Marcus & Millichap Facilitates $9.93M Sale of 28-Unit Apartment Building in Coconut Grove
Miami, the ever-dynamic real estate market, has witnessed another significant transaction with the sale of the Silver Bluff Underline apartment building for $9,925,000. This newly constructed 28-unit property, nestled in one of Miami’s most coveted neighborhoods, Coconut Grove, signifies a robust investment with promising returns and appreciation potential.
The announcement was made by Marcus & Millichap, a trailblazer in commercial real estate brokerage, specializing in a wide array of services including investment sales, financing, and advisories. The firm’s profound expertise and broad service palette make it a go-to for investors looking to navigate the complex terrains of real estate investments.
According to Alex Zylberglait, Senior Managing Director of Investments at Marcus & Millichap, “This brand-new asset in one of Miami’s strongest neighborhoods will provide the new investor solid returns with strong appreciation potential. With a great unit mix and easy access to work and entertainment locations, this property is very well positioned to attract tenants.”
Zylberglait, together with Michael Crocchiola, an investment specialist also based in Marcus & Millichap’s Miami office, spearheaded the exclusive market listing on behalf of a private individual. Their vast experience and nuanced understanding of the Miami real estate market played a pivotal role in the successful closure of this deal.
Located at 2285 SW 27th St., the Silver Bluff Underline boasts a strategic position in Coconut Grove. This locality is renowned for its lush landscapes, vibrant lifestyle, and a rich array of amenities. The luxury apartment building spans over 25,000 square feet, featuring an assortment of one-bed/one-bath units, which vary from 450 to 680 square feet, and larger two-bed/two-bath units, each about 1,017 square feet in size. Residents can enjoy modern finishes, private balconies, and ample parking, reflecting a blend of luxury and convenience.
The availability of various shopping, dining, and transportation options in the vicinity further elevates the living experience, making it an attractive proposition for potential tenants seeking a blend of comfort and accessibility.
Marcus & Millichap stands out as a leader in the commercial real estate sector, boasting an extensive network of over 1,783 investment sales and financing professionals across more than 80 offices in the United States and Canada. As of the end of the previous year, the firm has been instrumental in closing 7,546 transactions, amassing a sales volume of approximately $43.6 billion. This accomplishment attests to the company’s unmatched proficiency in catering to the diverse needs of sellers and buyers in the commercial real estate domain.
For those intrigued by the evolving Miami real estate landscape or aiming to partake in its growth by investing in strategic properties, Marcus & Millichap remains a beacon of expertise and efficacy, guiding clients through their investment journeys with precision and insight.
The sale of the Silver Bluff Underline is not merely a transaction but a testament to the vibrant and resilient Miami real estate market, offering a glimpse into the potential that awaits investors and residents alike in one of the city’s most sought-after neighborhoods.
