Saturday, January 30, 2016

Marcus & Millichap Arranges $1.4 million Sale of 10-United Santa Marta Apartments in Miami, FL

Santa Marta Apartments, 1621 SW Third Street, Miami, FL

Evan P. Kristol
MIAMI, 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 Santa Marta Apartments, a 10-unit apartment property located in Miami, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,400,000 equating to $140,000 per unit.

Evan P. Kristol, a senior vice president investments, Felipe J. Echarte, a vice president investments, and Alejandro J. Gonzalez, an associate, all in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Miami, and the buyer, a private investor from Miami Beach.

“Our exclusive marketing campaign generated multiple offers and resulted in the highest price per unit sale of properties built between 2006 and 2009 in the area,” says Gonzalez.

Built in 2008 on a 0.17-acre lot, Santa Marta Apartments is comprised of six one-bedroom/one-bathroom units and four two-bedroom/one-and-a-half-bathroom units.

Santa Marta Apartments is located within the Little Havana submarket, with convenient access to The Dolphin Expressway, Interstate 95 and Southwest 8th Street.  The property is located at 1621 Southwest 3rd Street in Miami. 

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL

(954) 245-3400

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