The Pomerantz Family Acquires Normandy Isles Multifamily For $15.9 Million

The recently closed transaction in Normandy Isles, Miami Beach involved the sale of a multifamily property located at 2050-2070 and 2095 Bay Dr. The property spans a total of 35,405 square feet and consists of 70 units. The sale price for this transaction was $15,852,000, resulting in an average price per unit of $226,457.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,852,000
• Units: 70
• Price per Unit: $226,457
• Square Footage: 35,405
• Address: 2050-2070 and 2095 Bay Dr, Normandy Isles, Miami Beach

The buyer in this transaction was The Pomerantz Family. Representing the buyer was Jon Kotler from Keller Williams Elite Properties. On the other side, the seller was represented by Shelly Argy and Ryan Shaw from Marcus & Millichap. It is worth noting that the sale also included the vacant lot at 2095 Bay Dr, which measures 7,250 square feet.