Miami Multifamily Property Trades for $3.6 Million
7500-7514 NE 6th Court in Miami sells for $3.6 million in a deal brokered by Robert Burstein of ONE Commercial Real Estate.
The property, which spans 13,500 square feet, was sold for a price per unit of 223,438 and a price per square foot of 265. The buyer and seller were not disclosed.
The property is located in Miami’s multifamily market, which has seen strong demand in recent years due to population growth and a shortage of affordable housing. The property’s location in the city’s Upper Eastside neighborhood, which has seen significant redevelopment in recent years, likely contributed to its appeal.
Robert Burstein, the broker who represented the seller, is a seasoned commercial real estate professional with over 20 years of experience in the industry. His firm, ONE Commercial Real Estate, specializes in the sale and leasing of commercial properties in South Florida.
The buyer of the property is likely a real estate investor looking to capitalize on the strong demand for multifamily properties in Miami. With a price per unit of $223,438, the property is priced competitively for the market and offers potential for strong returns.
Overall, the sale of 7500-7514 NE 6th Court is indicative of the strong demand for multifamily properties in Miami’s growing market. With population growth and a shortage of affordable housing driving demand, investors are likely to continue seeking out opportunities in the city’s multifamily sector.