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 1281 Building, a 33-unit apartment property located in Miami, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,260,000.

Alejandro Gonzalez, associate, Evan P. Kristol, senior vice president investments, and Felipe J. Echarte, vice president investments, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami, FL. The buyer was a private investor from Fort Lauderdale, FL.

Built in 1957 on a 0.36 acre lot the property is comprised of 33 units in a three-story building. The unit mix is comprised of 30 one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units.

1281 Building is located at 1281 NW 61st Street in Miami, FL is located within the Liberty City submarket on the corner of Northwest 61st Street and 13th Avenue.

About Marcus & Millichap (NYSE: MMI)

With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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.