Woodward Properties Acquires Multifamily Property In Boynton Beach For $12.7M

A multifamily property located at 405, 406, 503, 504, 512, and 515 Southeast 20th Avenue in Boynton Beach has been sold for a total price of $12,700,000. The property consists of 72 units with an average price per unit of $176,389. The total square footage of the property is 49,000, resulting in a price per square foot of $259. The transaction took place on August 16, 2021, and the buyer is Woodward Properties. The sellers are Dillon Boynton represented by Austin & Lawrence Rolnick, and Kimberly Sorrentino represented by Pentaurus.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,700,000
• Units: 72
• Price per Unit: $176,389
• Square Footage: 49,000
• Price per Square Foot: $259
• Market: Boynton Beach

Woodward Properties, represented by Michael Woodward, acquired the property from the sellers, Dillon Boynton and Kimberly Sorrentino. The deal represents a significant transaction in the multifamily market of Boynton Beach.