Tzadik Management Announces Sale of of River Gardens Apartments

Tzadik Management Announces Sale of of River Gardens Apartments

Tzadik Management has closed on the sale of the River Gardens Apartment Complex, located at 2300 NW 6th Street in Fort Lauderdale, FL. The 12-unit Apartment Complex was acquired by a local buyer after after Tzadik owned the complex for nearly 18 months.

Several renovations took place during the tenure of Tzadik’s ownership, as well as a thorough stabilization process. This strategy resulted in a profit at sale that exceeded profoma calculations and a established a continued trend of distressed real-estate transformations. “Completing this sale is a true full circle moment for us” said Chief Acquisitions Officer, Alex Arguelles, “The speed in which we took this dilapidated shell and renovated it into a fully occupied Apartment complex is encouraging.”

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

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‘NOBE House’ Project sells for over $5M

‘NOBE House’ Project sells for over $5M

Tzadik Management has closed on the sale of the ‘NOBE House’ property, located at 8505 Harding Ave in North Miami Beach. The property was initially purchased by Tzadik in 2014 and just sold for over $5M.

The 24-unit project was sold to the Aventura-based Stark Development LLC. Fortune International Realty agent Michael Davalos acted as the representative for seller, who after working with the city of Miami Beach, has decided to turn the Condo Project into a Hotel.

Tzadik has managed over $300 million in apartment complexes and luxury condo developments. As one of the most rapidly growing Multi-Family management companies in the state, continue to look for more sales and acquisitions in the future.

 

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