Rochemont Group Acquires Multifamily Property In Delray Beach For $2.15M

The Tower Apartments, located at 401 Northeast 2nd Avenue in Delray Beach, has recently been sold. The multifamily property spans 5,073 square feet and was purchased for $2,150,000. With a price per square foot of $424, this transaction offers a true value-add opportunity for the buyers, Richard & Pierre Rochemont of Rochemont Group. The property was sold by the estate of Alyce Beck.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,150,000
• Address: 401 Northeast 2nd Avenue, Delray Beach
• Market: Delray Beach
• Buyer: Richard & Pierre Rochemont - Rochemont Group
• Seller: The Estate Of Alyce Beck

Alexis Shapiro of ONE Commercial Real Estate represented both the buyer and the seller in this transaction. The entire process, from listing to closing, was completed in under 60 days. Tower Apartments garnered multiple offers due to its prime location at the entry to the Pineapple Grove district of Delray Beach and the potential for value appreciation. The buyers, with previous experience working with the historic board, aim to renovate the property while preserving its historic charm and integrity.

For more multifamily opportunities, interested parties can contact Alexis Shapiro at [email protected] or 954.573.4449.