West Palm Beach rentals command $15.6 million

The Essex House apartment complex is near the interchange of Okeechobee Road and I-95

TRD MIAMI /
Nov.November 13, 2016 10:00 AM

Commercial real estate brokerage Marcus & Millichap announced the sale of a 156-unit apartment complex in West Palm Beach for $15.6 million, about 50 percent more than its sale price last year.

The apartment property, called Essex House, is located on a 3.8-acre site at 537 South Sequoia Drive in West Palm Beach, one mile west of the interchange of Okeechobee Boulevard and Interstate 95.

Essex House, built in 1971 and 1974, features a community clubhouse and two gated swimming pools.

Brandon J. Rex and Evan P. Kristol, each a senior vice president investments in the Fort Lauderdale office of Marcus & Millichap, represented the seller. The brokerage firm identified neither the seller nor the buyer.

“The property is surrounded by an extraordinary concentration of nearly seven million square feet of retail and commercial space, providing residents with unparalleled convenience,” Rex said in a written statement.

An affiliate of Harvest Holdings, a Delray Beach-based company, bought Essex House in 2015 for $10 million.


Related Articles

arrow_forward_ios
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
The Bristol and David Brule Northern Star Industries (Credit: Michigan Tech)

Michigan manufacturing honcho buys condo at The Bristol in West Palm

Michigan manufacturing honcho buys condo at The Bristol in West Palm
JPMorgan Chase CEO Jamie Dimon (Credit: Win McNamee/Getty Images, Google Maps, iStock)

JPMorgan Chase buys own branch in West Palm

JPMorgan Chase buys own branch in West Palm
Richard Kayne, Founder and Co-Chairman of Kayne Anderson Capital Advisors, and a rendering of the self storage facility (Credit: TAYLOR / THEUS HOLDINGS, INC.)

Kayne Anderson buys self-storage in West Palm for $15M

Kayne Anderson buys self-storage in West Palm for $15M
One Clearlake Centre, JLL Capital's Maxx Carney, Chris Drew and Ike Ojala

West Palm office tower scores $39M loan

West Palm office tower scores $39M loan
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
From left: George Gleason the CEO of Bank OZK and Transwestern CEO Larry P. Heard, with 625 South Olive Avenue (Credit: Google Maps)

Transwestern buys lot, plans micro units near downtown West Palm

Transwestern buys lot, plans micro units near downtown West Palm
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...