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Florida & Gulf Coast  + Miami + South Florida  + Apartments  |  October 27, 2021
partments at 16851 18th Avenue in North Miami Beach, FL
Lisa McDuffie
By: Lisa McDuffie

CushWake Arranges $6M Sale of Circa 1964 North Miami Beach Apartments

Cushman & Wakefield has arranged the sale of a 36-unit apartment community located at 16851 NE 18th Avenue in North Miami Beach. The final sale price was $5.8 million or $161,111 per unit.

Calum Weaver  and Perry Synanidis of Cushman & Wakefield represented the seller, EUS at 18th Ave LP., in the transaction. F Advance, which specializes in stabilized and value-add multifamily acquisitions, acquired the property.

“F Advance plans to renovate the property and provide updated units that are needed within the market,” said F Advance representative Demian Perelmuter.

The property was built in 1964 and fully leased at the time of the sale. It is made up of one three-story building with one- and two-bedroom units averaging 772 square feet.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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