YAHOO FINANCE Press Release Tzadik Management closed late Wednesday afternoon on the sale of a 196-unit community located near Atlanta, GA. The sale, totaling well over $15.5M, was the third community Tzadik has sold in the past two months. ATLANTA, Oct. 18, 2019 (GLOBE NEWSWIRE) — Tzadik Management closed late Wednesday afternoon on the sale
Tzadik Management has closed on yet another Miami Apartment sale. The 2-Story, 36 Unit Garden Style Building located at 820 NW 70th Street in Miami, FL sold yesterday for $1.35 Million, ending Tzadik’s 5-year ownership of the property. This sale is the latest in a series of sales completed by Tzadik in the Miami area in the past year.
In another step of analogous sales, Tzadik Management has sold two of their earlier assets, 1251 and 1281 NW 61st Street for $1.45M million in early September.
Tzadik Management has closed on yet another Miami Beach sale. ‘Tzadik Boutique’, a 20-unit 2 story apartment complex in the heart of Miami Beach, sold yesterday ending Tzadik’s 5 year ownership of the property. The sale of this property marks the second Miami Beach sale in the past year.
This sale caps the latest distressed property flip orchestrated by Tzadik, further establishing the trend they have set in past years. “We were able to take advantage of this opportunity to revitalize what at the time was a distressed and run down property” said Chief Acquisitions Officer, Alex Arguelles. “Our ability to recognize the potential in this area and capitalize on it is a good sign moving forward.”
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. These operations resulted in a profit sale of over $300,000 and a continued trend of distressed real-estate transformations.
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.