Clement McNally Acquires The Palms Apartments From PBC Management Group For $4.37M In Riviera Beach

The sale involved a multifamily asset located at 2701 Avenue E, Riviera Beach, comprising 22 units and a total square footage of 16,972. The sale price was $4,370,000, resulting in a price per unit of $198,636 and a price per square foot of $257.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,370,000
• Units: 22
• Price Per Unit: $198,636
• Square Footage: 16,972
• Price Per Square Foot: $257
• Buyer: Clement McNally
• Seller: PBC Management Group
• Brokers: Evan Richardson, Dillon Majeski, Daniel Cunningham, Cory Sanchez & River Rhoads - Marcus & Millichap

The transaction was facilitated by Evan Richardson, Dillon Majeski, Daniel Cunningham, Cory Sanchez, and River Rhoads, all representing Marcus & Millichap. Their efforts culminated in achieving a record price per unit for mainland Riviera Beach, which indicates the strong and stable demand for properties with Section 8 tenancy in the current market environment.