Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Chateau View, a 15-unit apartment property located in Fort Lauderdale, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $2,200,000.
Alec G. Bashein, Brandon J. Rex and Evan P. Kristol, investment specialists 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 buyer, a private investor, was secured and represented by Joe Back with FM Capital.
“Chateau View exemplifies the strong demand for well-maintained multifamily properties in the east Fort Lauderdale submarket,” says Alec G. Bashein.
Chateau View is located at 3030 NE 21st Terrace in Fort Lauderdale, FL. The property is a three-story, elevator served building that was constructed in 1973 of concrete block with a painted stucco exterior and sits on a .31-acre site. It offers an excellent unit mix consisting of nine one-bedroom apartments and six two-bedroom apartments.