Fred Nusbaum Sells 30 Unit Multifamily Portfolio In Miami Beach For $6.95M With Compass Brokers

The asset involved in this transaction is a multifamily property located at 300 76th Street in Miami Beach. The property comprises a total of 30 units spread across three buildings, with a sale price of $6,950,000. It offers a square footage of 21,408 and a price per square foot of $324. The property is currently 100% occupied and has a current cap rate of 2.82%. This portfolio presents a value-add opportunity along with potential for short-term rental conversion.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,950,000
• Units: 30
• Square Footage: 21,408
• Price Per Unit: $231,666
• Price Per Square Foot: $324
• Seller: Fred Nusbaum
• Seller's Representative: Jesse Spencer, Juan Sotolongo, Eli Polsky & Brandon Polsky - Compass
• Cap Rate: 2.82%
• Occupancy: 100%
• Total Buildings: 3
• Value-Add Opportunity: Yes
• STR Conversion Potential: Yes

The transaction was facilitated by Fred Nusbaum as the seller, represented by Jesse Spencer, Juan Sotolongo, Eli Polsky, and Brandon Polsky from Compass. This team was instrumental in the brokerage process, highlighting the asset's potential and ensuring a smooth deal closure.