The historic Mirasol apartment building near the entrance to Davis Islands has been sold and will continue as a multifamily rental property.
The price for the 58-room building, built in the 1920s, was $10,375,000, according to Frank Carriera, an agent for Carriera Regan of Marcus & Millichap, which represented both the buyer and seller. Carriera declined to identify the buyer, but said it is a local resident who wants to keep the property as is.
There was speculation that the Mirasol could be returned to its original use as a hotel or converted to condominiums. It became apartments in the 1950s.
The buyer plans to revitalize the interiors, exterior and amenities, Carriera said.