PALM BEACH, FL-A Youngstown, Ohio-based private investor has acquired The Colony Apartments, a bank-owned apartment building comprising 11 units, for $2.6 million, which translates into $236,364 per apartment. The boutique apartment property is situated at Hammon Avenue in Palm Beach.
Dallas-based The Equity Bank was the seller of the property. Marcus & Millichap Real Estate Investment Services negotiated the deal on behalf of both the buyer and the seller. For the full story, go to Florida Real Estate Journal .
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