March 12, 2025 – David Cohen and Alec Bashein of Horvath & Tremblay have arranged the sale of Paradise Point Apartments, an eight (8) unit multi-family building in Miami Beach, Florida. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,800,000.
The Paradise Point Apartments are located at 723 2nd Street in Miami Beach, Florida. The property was constructed of concrete block in 1925 and is comprised of eight (8) Studio units in 2,852 square feet of living area and 2,549 square feet of adjusted area. With an average unit size of 966 square feet per unit, the property offers vastly larger floor plans than a majority of comparable unit types for apartment buildings in the area. The property is situated on a 1,750 square foot lot and is one block from Washington Avenue. The property features individual electric hot water heaters, PVC plumbing, wall air conditioning units and is master metered for electricity. The Paradise Point Apartments have been meticulously upgraded and maintained by current ownership. Improvements include individual electric hot water heaters in all units, PVC plumbing installed throughout, upgraded hot/cold water lines, and the property has had a polymerized rubber sealant applied to the roof. The Property is well-located along 2nd Street, between Meridian Avenue and Washington Avenue which is a short walk to Fifth Street, Alton Road, Collins Avenue, Ocean Drive and Miami Beach. The densely populated neighborhood consists primarily of multi-family buildings and newer luxury condominiums. The location offers ease of access to major retailers, employment hubs, shopping, public transportation (several bus routes), and major roads including Interstate I-195, A1A, SR 907, and SR 934. It also offers convenient access to Interstate 95, which provides access to all of South Florida.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.