Hernan Rey Of Flow Property Group LLC Acquires Multifamily Asset In Fort Lauderdale For $3.365M

A multifamily property located at 408 Northeast 7th Avenue in Fort Lauderdale has been sold for $3,365,000. The asset encompasses 9,856 square feet on a 0.61-acre lot and comprises 16 units, resulting in a price per unit of $210,313 and a price per square foot of $341.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,365,000
• Units: 16
• Square Footage: 9,856
• Price per Unit: $210,313
• Price per Square Foot: $341
• Buyer: Hernan Rey - Flow Property Group LLC
• Seller: Edward Figaredo, Luis Carreras & Lazaro Alonso
• Broker: Joseph Thomas - Marcus & Millichap

The transaction involved Flow Property Group LLC, which recently acquired a 21-unit multifamily portfolio in Fort Lauderdale for a total of $4.47 million. This particular deal was facilitated by Joseph Thomas of Marcus & Millichap, with financing provided by BrightStar Credit Union amounting to $2.38 million.