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, , in this seamless double escrow closing. This transaction was successfully completed, allowing both parties to achieve their respective goals in the deal.