Press Releases
Marcus & Millichap Brokers $5.9 Million Sale of 30-Unit Multifamily Property in North Miami
December 05, 2024
MIAMI, Dec. 5, 2024 – 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 580 NoMi Apartments, a 30-unit multifamily property which sits within the Historic Griffing Park Estates neighborhood in North Miami. The asset was sold for $5.9 million.
“In this off-market transaction, we were able to meet both the seller’s and buyer’s needs,” said Nicholas McAndrew, senior associate. “The buyer, a local owner and operator seeking to expand his portfolio in North Miami, posted a nonrefundable deposit at contract execution.”
McAndrew, Evan Kristol, and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Located at 580 NE 127th St., the four-story property, built in 1970, spans 19,209 square feet on a 0.38-acre site. About 70% of the units have been renovated with high-end finishes. Amenities include gated covered parking, secured entrances, central air conditioning, and laundry facilities.
“In this off-market transaction, we were able to meet both the seller’s and buyer’s needs,” said Nicholas McAndrew, senior associate. “The buyer, a local owner and operator seeking to expand his portfolio in North Miami, posted a nonrefundable deposit at contract execution.”
McAndrew, Evan Kristol, and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Located at 580 NE 127th St., the four-story property, built in 1970, spans 19,209 square feet on a 0.38-acre site. About 70% of the units have been renovated with high-end finishes. Amenities include gated covered parking, secured entrances, central air conditioning, and laundry facilities.
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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
