JD Bols Acquires Ocean Ridge Multifamily Property From Felix Charney For $4.85M

The property involved in the transaction is a multifamily asset located at 6600 North Ocean Boulevard in Ocean Ridge. The sale price of the property was $4,850,000, comprising 17 units and totaling 10,825 square feet, which translates to a price per unit of $285,294 and a price per square foot of $448.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,850,000
• Units: 17
• Square Footage: 10,825
• Price Per Unit: $285,294
• Price Per Square Foot: $448
• Buyer: JD Bols
• Seller: Felix Charney
• Brokers: Daniel J. Cunningham, Dillon Majeski, River Rhoads, Cory Sanchez & Evan Richardson - Marcus & Millichap

Marcus & Millichap represented both the buyer, JD Bols, and the seller, Felix Charney, ensuring a seamless transaction process. According to River Rhoads, the Lead Agent, the firm successfully closed the contracted price despite the property being over 35% vacant at the time of closing and amid multiple competing offers.