• Marcus & Millichap Arranges the Sale of a 24-Unit Apartment Building

    TAMPA, Florida, May 8, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Manhattan Luxury Apartments, a 24-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,825,000.

    Francesco P. Carriera, Michael P. Regan, Joshua Teplitzky and Cameron Barbas, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor as well as securing and representing the buyer, also a private investor. 

    Manhattan Luxury Apartments is a 24-unit apartment community located at 4205 South Manhattan Avenue in Tampa, Florida. The property consists of one, two-story residential building. The residential building is comprised of 24, one-bedroom/one-bathroom units with 600 rentable square feet. The property sits on approximately 0.73 acres of land. Amenities include washer/dryer, appliances and a patio/balcony in all units. This property has recently undergone complete renovations to the exterior of the property and interior of the units. Renovations to the interiors include condo-grade granite countertops, updated cabinets, stainless steel appliances, tile flooring, mosaic tile backsplash in the kitchens, bathrooms and updated light fixtures and faucets. Exterior renovations include completely new plumbing, electrical, roofs and repaved asphalt.

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    About Marcus & Millichap (NYSE: MMI)

    With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com