By Judy Wilson | Affiliate Editor
Deerfield Seashore – A 20-unit advanced on A1A has bought for $5.4 million to traders 2332 Walton Realty, Inc.
Inbuilt 1969, the ten,000-square-foot property, renamed Pier Stroll on Deerfield Seashore, closed at full listed worth in keeping with Daniel Cunningham, vice chairman for Marcus & Millichap, the realtors who dealt with the transaction.
“By a mix of our advertising and marketing course of and the property’s glorious location, we have been in a position to safe a purchaser and shut at full record worth. Pier Stroll is a transparent instance of the demand we’re seeing from consumers that need to personal and function trip and seasonal rental properties,” mentioned Evan Marcus, first vice chairman of investments at Marcus & Millichap.
One other spokesperson for the realtor, Princess Pitts, termed it “an exceptional sale and speaks to the demand for high quality properties on the barrier island.”
The property rental web site VRBO exhibits 3,718 out there models in Deerfield Seashore, from properties to condos to villas.
Pier Stroll, at 460 A1A, is a block from the ocean and 4 blocks from the fishing pier. It options 9 efficiencies, three studios, seven one bed room/one bathtub and 1 two bed room/two bathtub unit.
The worth introduced $539 a sq. foot. There are few native comps with this quantity of sq. footage and huge lot dimension, however the numbers could also be record-breaking for seashore properties right here.
A 24-unit advanced in Fort Lauderdale with nearly 9,000 sq. ft bought for $5.5 just lately and 16 models on Bayshore Drive Fort Lauderdale bought for $7.2 million.
Marcus & Millichap additionally represented the sellers of the Deerfield Seashore property in addition to securing the financing. Associates contributing to the sale with Cunningham and Richardson have been River Rhoads, Dillon Majeski, David Purisch and Steven Goldwyn on the firm’s Fort Lauderdale workplace. Walton Realty exhibits addresses within the Bronx, Fort Lauderdale, and Boca Raton.