Marcus & Millichap : Brokers the Sale of a Boutique Multifamily Townhome Complex in Boca Raton
January 02, 2023
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Marcus & Millichap Brokers the Sale of a Boutique Multifamily Townhome Complex in Boca Raton
January 03, 2023
BOCA RATON, Fla., Jan. 03, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Boca Sunrise Apartments, a nine-unit boutique multifamily townhouse community located in Boca Raton, Florida. The property sold for $2,725,000 million or $302,777 per unit.
"Boca Sunrise Apartments is an excellent Boca Raton location. The community is within walking distance to schools, restaurants, shopping, and other neighborhood amenity retailers," said Brandon J. Rex, senior vice president investments in Marcus & Millichap's Fort Lauderdale office. Rex and Evan P. Kristol, executive managing director of investments, represented the seller, Boca Sunrise Apartments LLC. The team also procured the buyer, a New-York based private investor.
Built in 1978, the property is comprised of one two-story townhouse-style building with a mix of six two-bedroom/o ne-and-a-half-bath, two three-bedroom/ two-and-a-half-bath, and one three-bedroom/one-bath townhouse units, as well as one non-conforming studio unit. The property is on .57 acres and features 24 on-site parking spaces, galley-style kitchens, small patios, and a laundry room.
Boca Sunrise Apartments is situated just east of Interstate 95 and south of Glades Road at 1600 NW 15th Avenue in Palm Beach County. The townhomes are within minutes of a Whole Foods-anchored shopping center tenanted by Bed Bath & Beyond, Barnes & Noble, Nordstrom Rack and more.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 03 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 21:33:03 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
