The Real Deal Miami

Pompano Beach condo sells

September 22, 2008 04:14PM

A private investor has sold the 180-unit condo project Banyan Village East in Pompano Beach to a Miami Lakes-based management company for $7.675 million. The buyer intends to rent out the property’s 147 unsold apartments while the market for condo sales remains slow. The building, located at 1880 Northeast 48th Street, received interest from 12 potential buyers in the two weeks it spent on the market. The buyer was chosen based on its ability to close on the deal quickly. Marcus & Millichap represented both the buyer and seller. TRD