Marcus & Millichap Facilitates $4.2M Multifamily Sale
Marcus & Millichap facilitated the $4.15 million sale of River Del Mar, a three-story, 24-unit apartment building in North Miami Beach.
“Due to the lack of inventory within the local marketplace here in South Florida, we were able to generate multiple offers creating competition amongst local and out-of-area capital,” said Nicholas McAndrew, associate. “Ultimately, this resulted in a local Buyer putting up a nonrefundable deposit upon executing the contract and waiving his financing contingency.”
McAndrew, Evan Kristol, and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a local LLC, and secured the buyer, a Florida-based private LLC.
River Del Mar is comprised of 21 one-bedroom apartments and three two-bedroom apartments. Between 2007 and 2009, the units underwent extensive renovations. The property is just off NE 19th Avenue, less than a mile west of Biscayne Boulevard.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.