Italian buyer pays $5 million for pair of South Beach apartment buildings

A pair of art-deco apartment buildings on South Beach has sold for $5 million, according to Marcus & Millichap, which handled the transactions. The first property was a 23-unit building at 1610 Euclid Avenue that sold for $2.69 million. The second was a 20-unit building at 1600 Pennsylvania Avenue that transacted for $2.31 million. Marcus & Millichap’s Arthur Porosoff had the exclusive listing to market the properties on behalf of the Miami Becah-based seller. The buyer for both properties was based in Venice, Italy. — Alexander Britell