Armando Luis Acquires Multifamily Asset From Eric Weber In Miami For $4.85M

The asset involved in this transaction is a multifamily property located at 1051 Northwest 2nd Street, Miami. It sold for $4,850,000, comprising 20 units with a price per unit of $242,500. The total square footage of the property is 13,285, which equates to a price per square foot of $365.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,850,000
• Units: 20
• Price Per Unit: $242,500
• Total Square Footage: 13,285
• Price Per Square Foot: $365
• Buyer: Armando Luis
• Seller: Eric Weber
• Broker Representatives: Daniel J. Cunningham, River Rhoads, Cory Sanchez, Dillon Majeski & Evan Richardson - Marcus & Millichap

This transaction illustrates the active participation of key figures in the real estate market, with Armando Luis as the buyer acquiring the property from seller Eric Weber. The brokerage team from Marcus & Millichap, consisting of five representatives, facilitated this deal, confirming the ongoing demand for multifamily properties in Miami.