In what marks a new sales record for the area, First Street Apartments, also known as North Fork Gardens, has traded hands. The 65-unit apartment community sits on Northwest 1st Avenue in the Dorse Riverbend submarket of Fort Lauderdale.
The purchase price of $6.9 million, or $107,000 per unit. This represents an 82% appreciation in value above the $3.8 million price paid for the property in 2015. Franklin Street’s
multifamily investment sales team, which included Hernando Perez, Greg Matus, Dan Dratch
and Kameron Djamal
, along with the director of Capital Markets for Franklin Street Tony Gannacone
, represented both the buyer, City View Colony, LLC and the seller, First Ave. Apartments, LLC. Both are locally-based investors with properties throughout South Florida. Franklin Street’s
Insurance Services team, led by Evan Seacat
and Ryan Cassidy
, insured the asset for the seller.
To see story visit http://www.globest.com/sites/jenniferleclaire/2017/07/24/multifamily-sale-sets-new-record-in-fort-lauderdale-submarket/