Located at 221 E Lantana Rd in Lantana, this multifamily property was recently sold in a closed transaction. The property spans 5,000 square feet and is comprised of 8 units. The sale price for this asset was $2,045,000, which translates to a per unit price of $255,625 and a price per square foot of $409.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $2,045,000
• Address: 221 E Lantana Rd
• Market: Lantana

JD Bols & Associates purchased the property from Stephen Marcuccio & Gary Scott. The transaction was facilitated by Alexis Shapiro from ONE Commercial Real Estate. Alexis acted as an advisor to the sellers even before the purchase, providing market insights and expertise to ensure the viability of the asset. The selling process was challenging, requiring the cooperation of all the owners in the condominium to agree to sell and convert the property to a multifamily building. The seller's efforts paid off, as the property sold above the asking price. Additionally, it is worth noting that the property has appreciated by an impressive 162% since it was purchased 16 months ago.

For more information about this transaction or to inquire about similar properties, you can contact Alexis Shapiro, the multifamily advisor, at 954.573.4449 or [email protected].