Jay Krigsman Of Avondale Garden Apartments LLC Purchases Multifamily Complex In Pompano Beach For $18.5M

A multifamily property located at 111 Avondale Drive; 433 & 455 Southwest 2nd Street; 428-462 & 416 Southwest 1st Court in Pompano Beach, FL has been sold for $18,500,000. The property consists of 124 units within a 70,502-square-foot, 12-building complex, translating to a price per unit of $149,194 and a price per square foot of $262.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,500,000
• Buyer: Jay Krigsman - Avondale Garden Apartments LLC
• Seller: Joseph Maiuro - Kilmair Properties & Avondale Gardens LLC
• Lender: Bradesco Bank
• Units: 124
• Square Footage: 70,502
• Price Per Unit: $149,194
• Price Per Square Foot: $262

This transaction represents the first significant ownership change for the Avondale Gardens Apartments in the last 25 years. The buyer, Jay Krigsman, confirmed financing through a mortgage secured from Bradesco Bank amounting to $14,875,000.