Cushman & Wakefield has been retained to sell a portfolio of 322 apartment units located in Miami’s South Beach.
Calum Weaver, Robert Given, Zach Sackley, Troy Ballard and Garrett Pordes of Cushman & Wakefield will oversee marketing efforts.
“This is the largest portfolio of art-deco units to be marketed on South Beach and provides a generational investment opportunity to acquire a critical mass of units in one of the most supply-constrained markets in the U.S.,” Weaver said.
The apartment units are within walking distance to South Beach’s attractions, including Lincoln Road, Ocean Drive, Collins and Washington Avenues. Over the past four years, Boardwalk Properties has invested $7 million to improve the properties, including gut renovating 61 units at 1600-1606 West Avenue and 1567 Meridian. The remaining 261 units have the potential to increase income with value-add improvements focused on interior upgrades.
The properties are located at 1600 West Avenue, 1606 West Avenue, 1567 Meridian Avenue, 850 15th Street, 1455 Euclid Avenue, 1440 Euclid Avenue, 1251 Euclid Avenue, 844-860 Euclid Avenue, 1326 Pennsylvania Avenue, 1336 Pennsylvania Avenue, 1110 Pennsylvania Avenue, 1226 Drexel Avenue, 1348 Drexel Avenue, 1025 Meridian Avenue, 948-952 Meridian Avenue, 710 Meridian Avenue, 1017 Jefferson Avenue, 951 Jefferson A
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