Village Greene Condominiums in Cocoa, FL Sold by Marcus & Millichap for $2 Million

Village Greene Condominiums, Cocoa, FL

 COCOA, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Village Greene Condominiums, a 124 out of 247 unit bulk condominium offering located in Cocoa, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. 

The asset commanded a sales price of $2 million.

Michael Donaldson, a senior associate and multifamily specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company in Ohio. 

Michael Donaldson

Ryan T. Shaw, an investment specialist in the firm’s Miami office, secured the Florida-based buyer, a limited liability company.

The Village Greene Condominiums are located at 1711 Dixon Boulevard.  The project was completed between 1964 and 1973 and was originally built as an apartment community but was later converted to condominiums. 

Almost 50 percent of the units have since been sold and this offering was for 124 of the 247 units, equating to just over 50 percent of the community.

Ryan T. Shaw

“This offering was a rare opportunity for an investor to acquire a fractured condominium community under $20,000 per unit” says Donaldson. “The distressed nature of the property being offered as a short sale, coupled with high vacancy, created a value-add scenario for the new buyer, who plans to rebrand the property and establish market rent and occupancy levels.”

Press Contact:

 Richard D. Matricaria

Regional Manager,

Tampa, FL

(813) 387-4700