Real estate app Compound in contract to buy Miami condo

Compound, a real estate investment app founded by CEO Janine Yorio, is in contract to buy a one-bedroom unit at the Faena House condo in Miami Beach for $2.6 million.

The purchaser is technically many of Compound’s shareholder members, all of whom will own a percent of the apartment, which they are buying as an investment.

The 1,185-square-foot, eighth floor pad last sold for $3.4 million in 2015.

Fellow owners at the Faena include titans of finance, like Lloyd Blankfein and Ken Griffin.

Compound’s condo ownership is fractionalized into 100,000 shares, with the minimum investment being $260 for 10 shares.

“The point of the platform is to allow a large group of investors to make relatively small investments in these condos and build a collection of apartments they would not be able to own or even invest in,” Yorio says. “From what we have seen, the idea of building a diversified portfolio of apartments across different cities is appealing to the majority of our investors.”

Products You May Like

Articles You May Like

Recent Cannabis Use Linked to Higher Heart Risk in Those under 45
Lipstick Lobby Has Mass Shooting Survivors in Latest Campaign

Leave a Reply

Your email address will not be published.