Tampa, FL (July 20, 2020) - Franklin Street has brokered the sale of Gandy Parkside, a 16-unit apartment community located in the city of Tampa, Florida.
Franklin Street’s Tampa multifamily investment sales team, Avery Jordan
, Mark Savarese
, Zach Ames
and Darron Kattan
represented the seller, Parkside Property Management, LLC and the buyer, Palm Street Capital, LLC in the $2,500,000 transaction. The buyer paid $156,250 per unit and is planning a significant value-add strategy through interior and exterior improvements.
“We were able to procure a true cash buyer during the COVID-19 pandemic,” said Avery Jordan, senior associate in Franklin Street’s Tampa office. “This competitive cash offer allowed us to move quickly from contract signing to closing in a 30-day timeframe.”
Gandy Parkside is located at 3208-3214 West Gandy Boulevard in Tampa, Florida. Built in 1985, Gandy Parkside is comprised of 12,992 SF of living space. The property is located in a prime South Tampa location near Bayshore Boulevard (0.5 Mi), Publix (0.5 Mi), Tampa Yacht & Country Club (1.2 Mi), the Selmon Expressway (0.7 Mi) and Downtown Tampa (9 Min).