Press Releases
Marcus & Millichap Closes $16.5 Million Sale of Multifamily Asset in North Miami
January 16, 2025
MIAMI, Jan. 16, 2025 – 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 SK Apartments, an 83-unit two-story apartment community in North Miami for $16.5 million.
“The sale of the SK Apartments is a sign that the market is recovering and an example of Marcus & Millichap’s unique marketing platform’s ability to form a market and obtain top of the market prices for Sellers,” said Felipe Echarte, senior managing director investments.
Echarte, Evan Kristol and Nicholas McAndrew, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller in the transaction, a private investor.
Located at 14555 NE 6th Ave., SK Apartments sits on a 1.99-acre lot at the corner of NE 6th Avenue and NE 145th Street. The property includes a mix of one- and two-bedroom units, averaging 645 square feet. The community has been well-maintained and significantly upgraded over the years, with improvements such as hurricane impact windows, new roofs, and modernized electrical systems. The property is near Interstate 95 and within a short distance of Florida International University’s Biscayne Bay Campus and Barry University.
“The sale of the SK Apartments is a sign that the market is recovering and an example of Marcus & Millichap’s unique marketing platform’s ability to form a market and obtain top of the market prices for Sellers,” said Felipe Echarte, senior managing director investments.
Echarte, Evan Kristol and Nicholas McAndrew, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller in the transaction, a private investor.
Located at 14555 NE 6th Ave., SK Apartments sits on a 1.99-acre lot at the corner of NE 6th Avenue and NE 145th Street. The property includes a mix of one- and two-bedroom units, averaging 645 square feet. The community has been well-maintained and significantly upgraded over the years, with improvements such as hurricane impact windows, new roofs, and modernized electrical systems. The property is near Interstate 95 and within a short distance of Florida International University’s Biscayne Bay Campus and Barry University.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
