Cortland Acquires Delray Beach Multifamily Property For $73.9M

A multifamily property located at 1720 Depot Avenue in Delray Beach has been sold for a price of $73,900,000. The property consists of 284 units, resulting in a per unit price of $260,211.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $73,900,000
• Address: 1720 Depot Avenue, Delray Beach
• Market: Delray Beach
• Seller: Wood Partners
• Buyer: Cortland
• Brokers: Avery Klann, Hampton Beebe, Tyler Minix, & Jonathan Senn – Newmark Knight Frank

The sale was facilitated by brokers Avery Klann, Hampton Beebe, Tyler Minix, and Jonathan Senn from Newmark Knight Frank. Cortland acquired the property from Wood Partners. The transaction involved a total of 284 units with a per unit price of $260,211.