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| Las Villas Apartments, 626 SW 4th Street, Miami, FL |
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| Victor Pastor |
MIAMI, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
announced the sale of Las Villas Apartments, a 21-unit apartment
property located in the Little Havana submarket of Miami, FL. The asset sold
for $3,430,000 representing $163,333 per unit.
Associates Victor Pastor and Rafael Fermoselle,
along with Vice President Investments Arthur D. Porosoff of Marcus &
Millichap’s Miami office, had the exclusive listing to market the property on
behalf of the seller, a limited liability company from Miami. The buyer, a private investor from New York,
was also secured and represented by Pastor, Fermoselle and Porosoff.
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| Arthur D. Porosoff |
“The property sold for a record price per square foot in the
little Havana submarket. Demand for
hard assets has surpassed 2006 pricing, but the difference is that there are
fundamentals supporting this new wave,” says Porosoff.
The new construction property features covered parking,
balconies, patios, and beautiful views of Downtown Miami and the Brickell area.
The unit-mix is composed of nine one-bedroom/one-bath apartments and 12
two-bedroom/two-bath apartments. All units come equipped with porcelain tile
throughout, stainless steel appliances, washer and dryer connections, central
air-conditioning and open floor plans.
Las Villas Apartments is located at 626 SW 4th Street in
Miami, Florida.
For a complete copy of the company’s news release, please
contact:
Kirk A. Felici
First Vice President/Regional Manager, Miami
(786) 522-7000
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