Bay Drive LLC Acquires Multifamily Property On 1955-1965 Bay Drive In Miami Beach For $2.65M

The multifamily property located at 1955-1965 Bay Drive in Miami Beach has been recently sold in a closed transaction. The property consists of 12 units with a total square footage of 9,304. The sale price for this off-market, value-add property was $2,650,000, resulting in a per unit price of $220,833 and a price per square foot of $285.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $2,650,000
• Number of Units: 12
• Price per Unit: $220,833
• Total Square Footage: 9,304
• Price per Square Foot: $285
• Market: Miami Beach

Ingrid Andres from The Island represented the seller, Josh Stein, as well as the buyer, Bay Drive LLC, in this seamless double escrow closing. This transaction was successfully completed, allowing both parties to achieve their respective goals in the deal.