Kimark Holdings LLC takes title to an Ocean Sixteen apartment at Río Mar in a $1,059,000 exchange deed
Kimark Holdings LLC has taken title to apartment 254 at Ocean Sixteen at Rio Mar, Edificio 4, on Carretera 3, Mameyes 2, Río Grande, 00745, through an exchange deed, a permuta, recorded on June 18, 2026 with a value of $1,059,000. An exchange deed transfers ownership of a property in return for another asset rather than for a purchase price.
The apartment had sold for $1,054,000 on April 18, 2008, so the value recorded this year is $5,000 higher than the price 18 years ago. The record gives the unit 223 m2 of built area, a recorded value of about $4,748 per m2.
Sales in the building
Five other units on the same property have recorded sales since August 2025, at $984,000, $1,125,000, $1,390,000, $1,200,000 and, in September 2026, $1,100,000. The property covers 15,667 m2 / 168,636 sq ft. The Puerto Rico Land Use Plan classifies its area as common rural land (98%), urban land (2%), and its zoning is DTS, Desarrollo Turístico Selectivo, a district for tourism and recreation projects where infrastructure allows and where the area's scenery and natural conditions must be kept.
Sales in the neighbourhood
Between November 2024 and October 2025, the Mameyes 2 neighbourhood recorded 139 sale deeds, more than the 107 it recorded between November 2023 and October 2024. The neighbourhood's median sale price for November 2024 to October 2025 was $275,000, a little higher than the $270,000 median of the 12 months before. Sellers in Río Grande listed residential property at a median asking price of $360,000 in October 2026.