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| Capri Apartments, 800--801 Capri Street, Coral Gables, FL |
CORAL GABLES, 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 Capri Apartments, a
42-unit apartment property located in Coral Gables, FL. The asset sold for
$6,281,000 which represents $149,548 per unit.
Arthur D. Porosoff, a vice president investments in
Marcus & Millichap’s Miami office, had the exclusive listing to market the
property on behalf of the seller, a New York-based private investor. The buyer, a fund manager in New York, was
also secured and represented by Porosoff.
“The city of Coral Gables is one of Miami-Dade County’s most
desirable rental markets,” says Porosoff.
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| Arthur D. Porosoff |
“ In close proximity to downtown Miami, it offers a ‘city
within a city’ feel. Residents are attracted to its entertainment, fine dining,
luxury shopping, public parks, excellent school districts and growing financial
district.
“ Strong property operations and inflows of local and
foreign capital will continue to sustain Coral Gables’ active and liquid
investment market.”
Porosoff has sold 23 Coral Gables apartment buildings in the
last three years.
Built in 1969, Capri Apartments consists of 42 units in two
separate, four-story buildings.
The community is comprised of an attractive mix
of two studio/ one-bath apartments, 10 one-bedroom/one-bath apartments and 30
two-bedroom/ two-bath apartments.
Capri Apartments is located on the south side
of SW 8th Street and just east of Granada Boulevard at 800-801 Capri Street in
Coral Gables, FL.
For a complete
copy of the company’s news release, please contact:
Ashley Steele
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