Tuesday, January 17, 2012

Marcus & Millichap Sells 53-Unit Apartment Community in Naples, FL for $2.7 Million


FT LAUDERDALE, FL, Jan. 17, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Oceans 52 (top left photo), a 53-unit apartment community located in Naples, Fla, according to Gregory Matus, Regional Manager / Vice President of the firm’s Ft. Lauderdale office.

The asset commanded a sales price of $2,700,000 representing $50,830 per unit.

Senior Associate William J. Berthiaume, II and Senior Vice Presidents Still Hunter, III (middle right photo) and Evan P. Kristol (lower left photo) of the Ft. Lauderdale office had the exclusive listing to market the property on behalf of the seller, a private investor from Jupiter, Fla.

 The buyer, a private investor from Miami, was secured and represented by Vice President Investments Alex Zylberglait and Associate Ryan Shaw of the Miami office.

Oceans 52 is a 53-unit apartment community with eight one-story buildings and a freestanding clubhouse with leasing center.  All apartments are two-bedroom/one-and-one-half bathroom of approximately 960 rentable square feet.

 “The property recently underwent extensive renovations including the exterior and many apartment interiors at a total cost of approximately $500,000.  After 21 days on the market, it closed at full list price in all cash,” says Berthiaume.  The property is located at 4058 Bay Shore Drive in Naples, Fla.

Press Contact:
Gregory Matus
Regional Manager / Vice President, Ft. Lauderdale
(954) 245-3400

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