Press Releases
Marcus & Millichap Brokers Sale of Vacant Multifamily Property in Fort Lauderdale
May 22, 2025
FORT LAUDERDALE, Fla., May 22, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $1,850,000 sale of Middle River Place, an eight-unit multifamily property in Fort Lauderdale, Florida. The property had previously been operated as affordable housing for veterans but has recently been converted to market-rate rentals.
“The sale of Middle River Place speaks to the demand for well-located multifamily assets in South Florida,” said Austin Michels, associate. “Through our marketing process, we generated multiple competitive offers from both local and foreign investors within the first week of marketing. Because of this, we achieved the highest price with the best possible terms for our clients. The property went to contract with the buyer within the first week of marketing and was delivered vacant at closing.”
Michels, Brandon Rex and Evan P. Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, two nonprofit organizations.
Located at 200–204 NW 17th Court, the property consists of four single-story concrete-block duplexes built in 1966 on a 0.39-acre site. The unit mix includes six two-bedroom and two one-bedroom apartments, with an average unit size of 769 square feet. Community amenities include a gated courtyard with a fire pit, picnic tables, a barbecue grill and shared laundry facilities.
“The sale of Middle River Place speaks to the demand for well-located multifamily assets in South Florida,” said Austin Michels, associate. “Through our marketing process, we generated multiple competitive offers from both local and foreign investors within the first week of marketing. Because of this, we achieved the highest price with the best possible terms for our clients. The property went to contract with the buyer within the first week of marketing and was delivered vacant at closing.”
Michels, Brandon Rex and Evan P. Kristol, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, two nonprofit organizations.
Located at 200–204 NW 17th Court, the property consists of four single-story concrete-block duplexes built in 1966 on a 0.39-acre site. The unit mix includes six two-bedroom and two one-bedroom apartments, with an average unit size of 769 square feet. Community amenities include a gated courtyard with a fire pit, picnic tables, a barbecue grill and shared 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, 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.
