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Residential

Grand Island Place I

  • Address

    1551 NE 167th Street
    North Miami Beach, FL 33179

  • MAP

Grand Island Place I was purchased in 2010 and consists of 199 units over 2 Apartment Buildings located at 1550 NE 168TH Street and 1551 NE 167th Street, North Miami Beach, FL, 33162. The apartments consists of 115 One Bedroom / One Bath Units; 41 Two Bedroom / Two Bath Units and 43 Three bedroom/ Two Bath units. The Ground Floor currently comprises a mix of Commercial Tenants of 15,000 sq ft which is an add on value to the property. A 6,000 sq ft former storage area was converted into a daycare and adding more value to the asset. As well as an additional source of income via the rooftop with numerous wireless tenants on leases.

As part of a combined sale with Grand Island Place II, both buildings were sold in 2015 after much Value additions.