St. Petersburg, FL · Multifamily

ABOUT THIS TRANSACTION

Bridgewater Commercial Real Estate has sold the last of the Greenland Apartments portfolio with the $1,700,000  sale of 500 Bayview Dr NE, an 8 unit Multifamily Property on Snell Isle. The entire portfolio, including 900 1st St N and 105-117 7th Ave N, consisted of 37 Multifamily units that sold for a total of $6,650,000. Despite below market rents across all properties and a small amount of hurricane damage to the property on Snell Isle, Bridgewater was able to secure a purchase price of just under $180,000/unit, showing strength in the St. Pete Multifamily market.