San Marco Apartments, located at 8842 Fontainebleau Blvd., wasbuilt in 1971. It consists of 243,320 rentable sf. The unit mixincludes 99 one-bedroom and 176 two-bedroom apartments. Theapartments, which range in size from 680 sf to 1,000 sf, rent forbetween $775 and $1,015 per month.

Among recent multifamily property sales of more than $10 millionin Southeast Florida, the per-unit price of San Marco Apartments isless than the average; however, the price is close to the stateaverage. The average price per unit in the area rose to $145,090,while the state average is $107,385, states a recent report byMadison-LaPaul in Miami. The South Florida average was given aboost by strong activity among condominium converters.

Miami and the entire Southeast Florida region have been known ashot multifamily markets in recent months. In fact, SoutheastFlorida had the greatest number of multifamily sales of more than$10 million of any region statewide in the second quarter. In theregion, 19 properties with 7,374 total units sold for nearly $1.1billion combined.