Sunday, October 18, 2015

Marcus & Millichap Brokers $1.83 Million Sale of 16-Unit Apartment Building in Fort Lauderdale, FL

Brandon J. Rex
FORT LAUDERDALE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Hemingway at Knoll Ridge, a 16-unit apartment property located in Fort Lauderdale, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,830,000 equating to $114,375 per unit.

Brandon J. Rex, a vice president investments, and Evan P. Kristol, a senior vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Oakland Park, Fla. 

“Hemingway at Knoll Ridge presented an investor with the opportunity to acquire a boutique apartment community in a strong rental submarket with historically low vacancy,” says Rex.

Built in 1971, Hemingway at Knoll Ridge is situated on a 0.34 acre lot and is comprised of two two-story buildings. The 16-unit boutique multifamily community consists of all one-bedroom/one-bath units.  The property offers residents a gated courtyard area, as well as two on-site laundry facilities and parking.

Hemingway at Knoll Ridge is located at 5410 and 5414 NE 22nd Terrace in Fort Lauderdale, Fla.

For a complete copy of the company’s news release, please contact:

Ryan Nee
Regional Manager, Fort Lauderdale

(954) 245-3400

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