The Real Deal Miami

Plantation apartment sells for $8.8M

November 11, 2011 11:15AM

A 167-unit apartment complex in Plantation has been sold for $8.8
million, according to Marcus & Millichap. The Landmark Towers were
purchased by a partnership from New York and Philadelphia.  Marcus &
Millichap’s Tal Frydman and Felipe Echarte, vice presidents in the
company’s Fort Lauderdale office, represented the seller, a New
York-based limited liability company and the buyer, a partnership out of New
York and Philadelphia. “The property had a high vacancy and a tremendous
amount of deferred maintenance,” Echarte said. “The deal was difficult
to complete as we had to find a unique buyer to assume the mortgage.”
The property is located at 601 NW 42nd Avenue in Plantation. — Alexander Britell