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Apartment Complex Trades for $2M-Plus

POMPANO BEACH, FL-A New Jersey-based investor outbids two condo converters for the Lakeview Apartments, which sells for $2.3 million. But, unlike similar transactions in Southeast Florida, the buyer of the 20-unit multifamily property plans to keep the apartments as rental units rather than convert them into condos.

By Natalie Keith | Updated on May 08, 2006

(To read more on the multifamily market, click here.)

POMPANO BEACH, FL-Lakeview Apartments, a 20-unit multifamily waterfront property was sold for nearly $2.32 million. The property is located at 361 and 331 SE 19th Ave. and 1880 SE 3rd St.

The building was sold by California-based the Von Rath Trust to New Jersey-based Boynes LLC. Both firms were represented by Marcus & Millichap Real Estate Investment Brokerage Co. senior associate Kenneth Giacco and sales associate Dimitrios Langas, who are located in the company’s Fort Lauderdale office.

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