Marcus & Millichap Facilitates $2.8M Sale of Miami Multifamily Properties

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 two multifamily apartment buildings in Miami, Florida. The asset sold for $2.8 million.

“The seller, a local owner and operator, took advantage of the strong demand for apartment purchases in Miami and will be transitioning into less management intensive retail properties,” said Nicholas McAndrew, associate. “The buyer saw an opportunity to continue to grow their portfolio in Allapattah and assembled an acre of land prior to the completion of Beckham’s new Miami Freedom Park Stadium.”

McAndrew, Felipe Echarte, and Evan Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a local LLC and procured the buyer 7 Crowns, LLC.

The multifamily apartment buildings are located at 1910 and 1920 NW 29th St., situated in the Allapattah neighborhood. The properties, spanning 8,840 square feet, is comprised of 16 units with a mix of studio, one-bedroom, and two-bedroom apartments. Nearby national retailers include McDonald’s, Walgreens, and Dunkin’ Donuts.

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. 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 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.