Tarek Balis Acquires Multifamily Asset At 1241 West River Drive For $2,626,000

The property asset involved in the transaction is a multifamily building located at 1241 West River Drive in Margate. The sale price was $2,626,000, encompassing a total of 16 units and providing 11,671 square feet of space, resulting in a price per unit of $164,125 and a price per square foot of $225.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,626,000
• Units: 16
• Square Footage: 11,671
• Price Per Unit: $164,125
• Price Per Square Foot: $225
• Buyer: Tarek Balis
• Seller: Assaf Zonenshine
• Broker: Elior Levi - Fausto Commercial Realty Consultants
• Date of Transaction: 07/13/2026

The deal involved Tarek Balis as the buyer and Assaf Zonenshine as the seller, with Elior Levi representing the transaction through Fausto Commercial Realty Consultants. The transaction was completed on July 13, 2026, marking a significant exchange in the Margate market.