Press Releases
Marcus & Millichap Brokers Sale of Six-Unit Multifamily Property in Fort Lauderdale
January 12, 2026
FORT LAUDERDALE, Fla., Jan. 12, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $1.8 million sale of a six-unit multifamily property in Fort Lauderdale, Florida.
“This sale underscores the continued demand for well-located waterfront multifamily assets in Fort Lauderdale,” said Austin Michels, associate director of investments. “This off-market transaction was an ideal fit for a 1031 exchange buyer seeking long-term stability and value in a quality asset. The property at 877 NE 18th Court achieved a strong $1.8 million sale price, equating to a record-setting $300,000 per unit, reflecting both the quality of the asset and investor confidence in the submarket.”
Michels, Brandon Rex, Evan P. Kristol and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office represented the seller, Brian Mayhew, and procured the buyer, Andrew Taubman.
The two-story property is located in Fort Lauderdale’s Middle River Terrace neighborhood. It features six two-bedroom, one-bathroom apartments and is near Federal Highway and downtown Fort Lauderdale, with convenient access to major employment centers, retail and dining.
“This sale underscores the continued demand for well-located waterfront multifamily assets in Fort Lauderdale,” said Austin Michels, associate director of investments. “This off-market transaction was an ideal fit for a 1031 exchange buyer seeking long-term stability and value in a quality asset. The property at 877 NE 18th Court achieved a strong $1.8 million sale price, equating to a record-setting $300,000 per unit, reflecting both the quality of the asset and investor confidence in the submarket.”
Michels, Brandon Rex, Evan P. Kristol and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office represented the seller, Brian Mayhew, and procured the buyer, Andrew Taubman.
The two-story property is located in Fort Lauderdale’s Middle River Terrace neighborhood. It features six two-bedroom, one-bathroom apartments and is near Federal Highway and downtown Fort Lauderdale, with convenient access to major employment centers, retail and dining.
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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.
