The Harris Music Lofts, a 38-unit apartment building located at 206-208 Clematis St in West Palm Beach, was recently sold in a closed transaction. The property, situated in the Downtown core of West Palm Beach, is the only apartment building on Clematis St east of the newly built Brightline Station.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,000,000
• Address: 206-208 Clematis St
• Market: West Palm Beach

The buyer of the property was Sean Conlon, a prominent figure in the real estate industry. The transaction was facilitated by Zachary Baraf from The Stanwich Group, who acted as the broker representing Conlon.

The Harris Music Lofts was acquired by Conlon as part of a 1031 Exchange, a tax-deferred strategy used by real estate investors to sell one property and reinvest the proceeds into a similar property without incurring immediate tax liabilities. Previously, Conlon also sold a 23-unit apartment building at 184 Sunset Avenue on Palm Beach, with Zach Baraf serving as the sole adviser on that deal as well.