Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 7700-7720 Abbott Avenue, a thirty-six-unit multifamily property in Miami Beach, Florida, for $9 million.
“7700-7720 Abbott Avenue represented a unique opportunity to acquire 36 contiguous units in Miami Beach with three parcels of land forming a corner lot,” said Joseph P. Thomas, Senior Managing Director Investments.
Built between 1940 and 1957, the three properties include 12 studios and 24 one-bedroom units on nearly 17,000 square feet of land. The site is near Miami Beach’s Town Center District, where several redevelopment projects are planned or underway, including the Gateway at 71st Street and Ocean Terrace.
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.
