Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Grandview Heights, a boutique apartment community in West Palm Beach, Florida, for $1,550,000.
“Grandview Heights presented an excellent opportunity for the buyer to acquire a boutique property in one of the most desirable locations in West Palm Beach,” said Evan Kristol, executive managing director of investments.
Kristol, Felipe Echarte and Brandon Rex, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Sun Lux Services LLC. Evan Richardson, Daniel Cunningham, River Rhoads, and Dillon Majeski, investment specialists in the firm’s Fort Lauderdale office, represented the buyer, a Florida-based private investor.
The Grandview Heights apartment community comprises two buildings with six multifamily units, offering one- and two-bedroom floor plans, private patios, and expansive balconies. Grandview Heights is one of 13 historic districts in the city of West Palm Beach. The district is bounded by M Street, Park Place, Lake Avenue, and Alabama Avenue, spanning approximately 21 square blocks.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
