DELRAY BEACH, FL - Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of Fall Ridge at Delray, a 60-unit apartment community located in Delray Beach. The final sale price was $13.55 million or $225,833 per unit.
Calum Weaver and Perry Synanidis of Cushman & Wakefield represented the seller, B and H Delray LLC, in the transaction. Grand Capital Group LLC acquired the property.
Built in 1980 the property sits on 4.86 acres. The property is a rare villa-style community totaling 10 triplex and 5 eight-plex units. All units are spacious two bedrooms-two bathrooms averaging 855-square feet. All units have washer/dryer hookups.
“Last year there were over $11 billion in multifamily sales in South Florida, which is more than double the previous highest sale activity in the region. We expect 2022 will be very similar to this year with continued strong sale activity fueled by positive market fundamentals,” said Weaver, Executive Managing Director at Cushman & Wakefield.
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.