Thursday, June 16, 2016

Marcus & Millichap Arranges $4.44 Million Sale of 30-Unit Singer Island Hotel and Cottages on Singer Island, FL

Singer Island Hotel and Cottages, 1166 East Blue Heron Boulevard, Singer Island, FL

Derek R. Gibbs
SINGER ISLAND, FL,  June 16, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Singer Island Hotel and Cottages, a 30-unit portfolio of five contiguous buildings on four parcels sitting on almost a full acre on Singer Island, Fla. The asset sold for $4,445,000.

Derek R. Gibbs and Daniel J. Cunningham, vice president investments in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller. The buyer, was secured and represented by Brian L. Rosen, a senior associate also in Marcus & Millichap’s Fort Lauderdale office. 

The property was built between 1952 and 1971 as a multi-family apartment and short-term rental complex and was later converted into a destination rehabilitation and recovery center. The unit mix includes 22 one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units and six studios.

Singer Island Hotel and Cottages is located at 1166 E Blue Heron Boulevard and is walking distance to the ocean and close to new retail and hospitality developments.

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

Ryan Nee
Vice President / Regional Manager, Fort Lauderdale, FL

(954) 245-3400

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