ONE Commercial Real Estate was exclusively retained by developers, New Urban Community, to arrange for the sale of Azul Stuart, a multi-family building comprised of forty-nine newly-constructed units. Azul was the first newly-constructed multi-family property located in downtown Stuart in decades. We were entrusted with selling the property at a premium price.
The purpose of this case study is to highlight the challenges presented in this assignment, as well as the solutions that ultimately led to a successful property sale.
No seller concessions made during contracted period. Multiple offers were presented.
ONE Commercial Real Estate was successful in arranging the sale of Azul Stuart, finding solutions for the many challenges presented. Azul Stuart sold to DiversyFund, a REIT based out of San Diego, California for $15,500,000 ($475.80 PSF). The property was at 98% occupancy upon closing, reaching 100% shortly thereafter.