Cushman & Wakefield arranges $41 million sale on behalf of Ytech

Greenstone Companies acquires Ocean House for $220,430 per unit

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Ocean House
Cushman & Wakefield arranged the sale of Ocean House, a 186-unit multifamily property in the North Beach area of Miami Beach.

Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Ocean House, a 186-unit multifamily property in the North Beach area of Miami Beach. The final sale price was $41 million.

Calum Weaver, and Perry Synanidis of Cushman & Wakefield represented the seller, Ytech, in the transaction. Greenstone Companies acquired the property.

“Ocean House represents the largest garden-style multifamily property in Miami Beach. Located in the North Beach area of Miami Beach, the area immediately around Ocean House is poised to improve with the realization of the North Beach Town Center a planned mixed-use district created as part of the North Beach Master Plan,” Weaver said.

The property is within walking distance to the beach, the famous Collins Avenue and an array of fine retail and dining destinations. Amenities include multiple parks with playgrounds, places for social gatherings, outdoor gyms, a dog park, and access to the Tatum Waterway.