The Real Deal Miami

Pompano complex sells for $10.5M

January 26, 2011 10:31AM

The Palm Islands Apartments, a 402-unit, 286,115-square-foot apartment
complex in Pompano Beach, has sold for $10.5 million, Marcus &
Millichap announced yesterday. The sale price represents an average of
$26,055 per unit and $37 per square foot. “Palm Islands is one of the
few 400-plus unit apartment communities in Broward County,” Kristol said. “Upon stabilization, the new owner will be in a position to
realize a significant rental upside.” The property is located at 401 NW
34th Street in Pompano Beach, one block west of I-95. TRD