Pantzer Properties Acquires Multifamily Property In West Palm Beach For $78M

The multifamily property located at 1701 Clare Avenue in West Palm Beach has been sold for a total of $78,000,000. The property spans over 3.1 acres and consists of 178 units. The price per unit amounts to $438,202, and the total square footage of the property is 173,543, resulting in a price per square foot of $449. The transaction took place on 05/09/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $78,000,000
• Address: 1701 Clare Avenue, West Palm Beach
• Market: West Palm Beach
• Acres: 3.1
• Units: 178
• Price Per Unit: $438,202
• Total Square Footage: 173,543
• Price Per Square Foot: $449

The buyer of the property is Pantzer Properties represented by Jordan and Jason Pantzer. The seller is Eastwind Development. Truist Bank provided the financing for this transaction.