The Residences on 16th, a 63-unit multifamily community in Naples, has sold for $12.54 million.
The buyer was the New York real estate investment firm Sharp Key Capital. The seller, Opus Reserve, is an Orlando LLC that according to Collier County records paid $15 million for the community in 2022.
Residences on 16th, which is at 5194 16th Place S.W., sits on 5.2 acres and is made up 16 two-story buildings…