Cushman & Wakefield Arranges $ 5.8M Sale of North Miami Seaside Residence Group – PROFILE Miami

Cushman & Wakefield announced today that the commercial real estate services company has arranged the sale of a 36-unit condominium at 16851 NE 18th Avenue in North Miami Beach. The final retail price was $ 5.8 million, which is $ 161,111 per door.

Calum Weaver and Perry Synanidis from Cushman & Wakefield represented the seller EUS at 18th Ave LP. in the transaction. Demian Perelmuter with F Advance Mgmt., Which specializes in stabilized and value-adding multi-family purchases, acquired the property. “F Advance Mgmt. Plans to renovate the property and provide updated units that are needed in the market,” said Perelmuter.

Built in 1964, the property comprises a three-story building with one- and two-bedroom units averaging 772 square feet. The property was fully let at the time of sale.

By Katya Demina