MRK Partners Acquires Homestead Multifamily For $29.7M

A multifamily property located at 110 NE 10th Street in Homestead has been sold in a recent transaction. The property, consisting of 233 units, was sold for a total price of $29,658,000. This translates to a per unit price of $127,288. The property spans a total area of 160,508 square feet, resulting in a price per square foot of $185. The sale took place on November 23, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $29,658,000
• Units: 233
• Price per Unit: $127,288
• Square Footage: 160,508
• Price per Square Foot: $185
• Address: 110 NE 10th Street, Homestead
• Market: Homestead

The buyer of the property is MRK Partners, while the seller is Noel Hernandez. The transaction was facilitated by brokers Felipe J. Echarte and Evan P. Kristol, who represented both the buyer and the seller in this deal. The brokers are associated with Marcus and Millichap.