Hewitt Real Estate Holdings Acquires 23-Unit Multifamily Property In Sarasota For $4.85M

The property asset involved in this transaction is a 23-unit multifamily property located at 785 North Osprey Avenue in Sarasota, FL. The total sale price was $4,850,000, resulting in a price per unit of approximately $210,870. The property encompasses 14,490 square feet with a price per square foot of $335, on a site size of 0.92 acres.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,850,000
• Buyer: Hewitt Real Estate Holdings
• Seller: Insula Companies
• Brokerage: Marcus & Millichap
• Brokers: Jason Hague & Ned Roberts
• Units: 23
• Square Footage: 14,490
• Price Per Unit: $210,870
• Price Per Square Foot: $335
• Acres: 0.92

Hewitt Real Estate Holdings acquired the property from Insula Companies, marking it as Hewitt's first multifamily acquisition. Marcus & Millichap represented the seller and successfully procured the buyer for this transaction.