David Olalde of Easton represented the buyer, 7640 Carlyle Associates, LLC, who paid $3,470,000 for the property.
The buyer is a private investor from New York City that owns about 250 residential units in the metropolitan area.
“My client already owns industrial assets in South Florida, so they asked if we could help them find apartments here since they’ve been priced out of New York City. We were able to locate a great property with a lot of upside in an area that is growing in popularity and where rents continue to rise.”
Olalde said the buyer plans on spending about a half million dollars to upgrade common areas and individual units at the apartment building, which is located at 7640 Carlyle Avenue.