Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Flamingo Garden, a 36-unit apartment property located in Miami, Florida, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $4,572,000.
Evan P. Kristol, executive managing director investments along with Felipe J. Echarte, senior vice president investments in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
“The amount of interest produced from all parts of the country for the Flamingo Garden Apartments proves that the Marcus & Millichap platform can truly move capital across the nation to compete with local investors and maximize prices for sellers,” says Echarte
Flamingo Garden is located at 1400 NW 95th Street in Miami, Fla. The property consists of 10 one-story residential buildings spread out over a low density 2.85-acre site and is located in an opportunity zone. The property offers an excellent mix of eight one-bedroom and 28 two-bedroom apartments.