Fairway Gardens sold for $160,714 per unit

Franklin Street has brokered the sale of Fairway Gardens, a 28-unit multifamily property located on a golf course in the city of Margate, Florida.

Franklin Street’s Fort Lauderdale multifamily investment sales team, Travis Jones, Dan Dratch, Greg Matus,AJ Stanford, and Ryan Wold closed the $4,500,000 all-cash deal in 46-days within 5% of the asking price.

Franklin Street’s Evan Seacat, Ryan Cassidy and Alec Laetham provided insurance for the new buyer.

“The Sellers were interested in testing the market but saw the value Franklin Street could deliver.” said Travis Jones, Senior Associate, Franklin Street. “We received multiple offers and, in the end, received a record number for this asset class in this particular area. The offer was all cash and the closing went smooth even amongst the stresses of the COVID-19 pandemic.”

Fairway Gardens is located at 1150-1170 NW 80th Ave, Margate, FL. Built in 1989, Fairway Gardens has 28- unites spread across 1.68 acres.

About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions - Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.