MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $14.9 million sale of Lincoln Palms, a portfolio of five multifamily parcels totaling 66 units located off Lincoln Road in Miami Beach. The community comprises 35 studios, 28 one-bedroom apartments, two two-bedroom apartments and one four-bedroom townhouse. Apartment units feature ceramic tile and solid oak wood flooring, wall air-conditioning units and walk-in closets. Some units feature private patios or balconies. All five buildings have a connected courtyard with sitting areas and bicycle racks for residents. Arthur Porosoff of Marcus & Millichap’s Miami office represented the seller, a private investor from New York. Joseph Thomas and Frank Fausone of the firm’s Fort Lauderdale office secured the buyer, a private investor from Miami.
Lincoln Palms, a portfolio of five multifamily parcels totaling 66 units, is located off Lincoln Road in Miami Beach and comprises 35 studios, 28 one-bedroom apartments, two two-bedroom apartments and one four-bedroom townhouse.
Marcus & Millichap Brokers $14.9M Sale of Multifamily Portfolio in South Beach
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