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Berger Commercial Realty Corp. Announces Three New Deals In Miami-Dade And Broward Counties

FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla. and serving clients around the state, announced three new deals from broker Steve Hyatt in Miami-Dade and Broward counties.

“We’ve seen a lot of activity this summer in apartment buildings with fewer than 30 units,” said Hyatt. “In some cases, we’ve seen government entities form partnerships to purchase properties, and in other instances we’ve seen all-cash deals from foreign buyers.”

■ Hyatt acted as the sole broker on the $390,000 sale of the Overtown property, located at 1410 NW 1st Avenue in Miami, to buyer St. John Village 1410, LLC, from seller 1410 Holdings, LLC.

The 26-unit apartment building is located in the Overtown section of Miami. The property is being renovated by St. John Community Development Center in conjunction with The City of Miami under the U.S. Department of Housing and Urban Development (HUD) and the federally sponsored Neighborhood Stabilization Program (NSP).

■ Hyatt represented seller 421 Banks Road, LLC, in the sale of an eight-unit apartment building, located at 421 Banks Road in Margate, Fla., for $355,000 to buyer First Atlantic Ventures, LLC, represented by Racine Tan of Charles Rutenberg Realty.

■ Hyatt represented seller ECP Properties, Inc., in the $220,000 sale of a 20-unit apartment  building in Liberty City, located at 7136-7146 NW 14th Place, to buyer 7136  Building, LLC.

BRIEFS:

Property: 1410 NW 1st Avenue, Miami, FL
Purchase Price: $390,000
Seller: 1410 Holdings, LLC
Buyer: St John Village 1410, LLC
Broker: Steve Hyatt (sole broker on deal)
Description:  26-unit apartment building located in the Overtown section of Miami, being renovated by St John Community Development Center in conjunction with The City of Miami under the U.S. Department of Housing and Urban Development (HUD) and the federally sponsored Neighborhood Stabilization Program (NSP).
Property: 421 Banks Road, Margate, FL 33331
Purchase Price: $355,000
Seller: 421 Banks Road, LLC, represented by Steve Hyatt
Buyer: First Atlantic Ventures, LLC, represented by Racine Tan of Charles Rutenberg Realty
Description: 6,592 square-foot, newly renovated 8-unit apartment building on a 14,219 square-foot lot.
Property: 7136-7146 NW 14th Place, Miami, FL
Buyer: 7136  Building, LLC
Seller: ECP Properties, Inc, represented by Steve Hyatt
Sales price: $220,000
Description: 8,042 square-foot, 20-unit apartment building on a 112,473 square-foot lot located in Liberty City.

About Berger Commercial Realty Corp.:  Founded in 1998, Berger Commercial Realty Corp. is a full service commercial real estate firm.  A local, independent and privately-owned firm, Berger can customize services and adapt to clients needs and the ever changing real estate market.  Services include brokerage/tenant and buyer representation, property management, agency/project leasing, capital advisory / investment sales, construction/project management, and retail services. The company established a dedicated division, Berger Special Assets, to serve as receiver and enhance the value of distressed properties by providing expert management, leasing and sales representation on behalf of lenders and financial institutions.

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