Marcus & Millichap Inc.
08/28/2025 | Press release | Archived content
Marcus & Millichap Brokers Sale of 20-Unit Multifamily Portfolio in Miami Beach
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Marcus & Millichap Brokers Sale of 20-Unit Multifamily Portfolio in Miami Beach
August 28, 2025
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MIAMI BEACH, Fla., Aug. 28, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a two-property, 20-unit multifamily portfolio in the North Beach area of Miami Beach, Florida. The portfolio sold for $5,250,000.
"We received a number of strong offers for 69th and Abbott Apartments due to Marcus & Millichap's unique marketing platform which allowed us to access a foreign buyer who closed on the property in an all-cash transaction," said Felipe Echarte, senior managing director investments in Marcus & Millichap's Fort Lauderdale office. Echarte and Evan Kristol, executive managing director investments, represented the seller.
The portfolio comprises two contiguous, two-story buildings at 350 69th St. and 6877 Abbott Ave. Each property has 10 units with a mix of studios and one-, two- and three-bedroom apartments, averaging 810 square feet. All units have been renovated with impact windows and doors, and most include new kitchens and bathrooms, appliances, air conditioners, flooring, lighting and plumbing fixtures. Exterior upgrades include new landscaping, secured fencing, custom railings and painting.
The North Miami Beach market is undergoing revitalization with the implementation of the Town Center District and other projects that are bringing new residential, retail, dining, employment and entertainment options to the community.
"We received a number of strong offers for 69th and Abbott Apartments due to Marcus & Millichap's unique marketing platform which allowed us to access a foreign buyer who closed on the property in an all-cash transaction," said Felipe Echarte, senior managing director investments in Marcus & Millichap's Fort Lauderdale office. Echarte and Evan Kristol, executive managing director investments, represented the seller.
The portfolio comprises two contiguous, two-story buildings at 350 69th St. and 6877 Abbott Ave. Each property has 10 units with a mix of studios and one-, two- and three-bedroom apartments, averaging 810 square feet. All units have been renovated with impact windows and doors, and most include new kitchens and bathrooms, appliances, air conditioners, flooring, lighting and plumbing fixtures. Exterior upgrades include new landscaping, secured fencing, custom railings and painting.
The North Miami Beach market is undergoing revitalization with the implementation of the Town Center District and other projects that are bringing new residential, retail, dining, employment and entertainment options to the community.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on August 28, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 12, 2025 at 16:14 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]