Chaim Bazon Acquires Multifamily Asset From Matt Press And Stephen Vegh For $6.4M

The transaction involves a multifamily property located at 10000 East Bay Harbor Drive in the Bay Harbor Islands market. The sale price for this asset was $6,400,000, comprising 18 units. The property encompasses a total square footage of 15,612, resulting in a price per unit of $355,555 and a price per square foot of $409.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,400,000
• Units: 18
• Square Footage: 15,612
• Price Per Unit: $355,555
• Price Per Square Foot: $409
• Buyer: Chaim Bazon
• Seller: Matt Press - Equishares; Stephen Vegh - Westwood Realty Associates
• Buyer’s Representative: Howard Wolfson - Mack Ventures
• Seller’s Representative: David Cohen - Horvath & Tremblay

The sale was marked by collaboration among all parties, with a focus on a short-term rental deal in a desirable location known for strong tourism growth. The demand for such assets continues to be robust, with investors looking for opportunities with potential for future development.