Press Releases
Marcus & Millichap Brokers $9 Million Sale of Multifamily Property in Miami Beach
July 21, 2025
MIAMI BEACH, July 21, 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 7700-7720 Abbott Avenue, a thirty-six-unit multifamily property in Miami Beach, Florida, for $9 million.
“7700-7720 Abbott Avenue represented a unique opportunity to acquire 36 contiguous units in Miami Beach with three parcels of land forming a corner lot,” said Joseph P. Thomas, Senior Managing Director Investments.
Thomas, Alec Demetriou and Adam Marcuvitz, investment specialists in Marcus & Millichap’s Fort Lauderdale office, marketed the property on behalf of the seller, Bristol Realty Partners LLC, and procured the buyer.
Built between 1940 and 1957, the three properties include 12 studios and 24 one-bedroom units on nearly 17,000 square feet of land. The site is near Miami Beach’s Town Center District, where several redevelopment projects are planned or underway, including the Gateway at 71st Street and Ocean Terrace.
“7700-7720 Abbott Avenue represented a unique opportunity to acquire 36 contiguous units in Miami Beach with three parcels of land forming a corner lot,” said Joseph P. Thomas, Senior Managing Director Investments.
Thomas, Alec Demetriou and Adam Marcuvitz, investment specialists in Marcus & Millichap’s Fort Lauderdale office, marketed the property on behalf of the seller, Bristol Realty Partners LLC, and procured the buyer.
Built between 1940 and 1957, the three properties include 12 studios and 24 one-bedroom units on nearly 17,000 square feet of land. The site is near Miami Beach’s Town Center District, where several redevelopment projects are planned or underway, including the Gateway at 71st Street and Ocean Terrace.
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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.
