Marcus & Millichap Inc.
02/27/2023 | Press release | Distributed by Public on 02/27/2023 12:35
Marcus & Millichap Brokers the Sale of a 10-Unit Apartment Building in Fort Lauderdale
Press Releases
Marcus & Millichap Brokers the Sale of a 10-Unit Apartment Building in Fort Lauderdale
February 27, 2023
FORT LAUDERDALE, Fla., Feb. 27, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Harbordale Residences, a 10-unit boutique apartment complex located in Fort Lauderdale, Florida.
"Harbordale Residences was an excellent opportunity to acquire one of a handful of rental buildings in the Harbordale submarket," said Evan P. Kristol, executive managing director investments. "The building had recent significant renovations including a new roof, exterior paint, and interior upgrades to 60 percent of the apartments."
Kristol, Brandon J. Rex, and Austin Michels, investment specialists in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Harbordale Residences LLC. The buyer, 700 SE 12 Holdings, LLC, was also procured by Kristol, Rex, and Michels.
Harbordale Residences is located at 700 SE 13th St. in a predominantly residential neighborhood. Built in 1967, the 14,672-square-foot property offers a unit mix of 10 one-bedroom apartments. Property amenities include landscaped grounds, 35 surface parking spaces, and individual onsite laundry facilities. Apartment amenities include ceramic tile or faux wood vinyl flooring, wall unit air-conditioning, and separate hot-water heaters.
"Harbordale Residences was an excellent opportunity to acquire one of a handful of rental buildings in the Harbordale submarket," said Evan P. Kristol, executive managing director investments. "The building had recent significant renovations including a new roof, exterior paint, and interior upgrades to 60 percent of the apartments."
Kristol, Brandon J. Rex, and Austin Michels, investment specialists in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Harbordale Residences LLC. The buyer, 700 SE 12 Holdings, LLC, was also procured by Kristol, Rex, and Michels.
Harbordale Residences is located at 700 SE 13th St. in a predominantly residential neighborhood. Built in 1967, the 14,672-square-foot property offers a unit mix of 10 one-bedroom apartments. Property amenities include landscaped grounds, 35 surface parking spaces, and individual onsite laundry facilities. Apartment amenities include ceramic tile or faux wood vinyl flooring, wall unit air-conditioning, and separate hot-water heaters.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2022, the Company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com..