Berger Commercial Realty Brokers Sale Of Victoria Park Multifamily Property

Berger Commercial Realty/CORFAC International Senior Vice Presidents Steve Hyatt and Keith Graves, CCIM, SIOR represented the seller in the $2.175 million sale of a multifamily redevelopment property in Fort Lauderdale’s Victoria Park neighborhood.

The property, located at 828-840 NE 15th Avenue, closed on May 29. The seller, 828, 836 & 840 NE 15th Ave., LLC, was represented by Hyatt and Graves. The buyer, 828-840 NE 15th Ave, LLC, was represented by Sivan Manoah of Palm & Company.

Situated on .46 acres, the property currently includes a nine-unit rental apartment building. The buyer plans to redevelop the site with six new duplex units.

Located in the upscale Victoria Park area just south of downtown Fort Lauderdale, the property is near Las Olas Boulevard, Fort Lauderdale Beach and some of the city’s most desirable dining, shopping and entertainment destinations.

“This transaction reflects the continued demand for well-located multifamily redevelopment opportunities in east Fort Lauderdale,” said Hyatt.

 

“Victoria Park remains one of the city’s most attractive neighborhoods for luxury townhouse and boutique residential development because of its proximity to downtown, Las Olas and the beach,” added Graves.

The sale also underscores the ongoing transformation of older multifamily properties in Fort Lauderdale’s urban core. Many 1950s- and 1960s-era apartment buildings in east Fort Lauderdale are being acquired for redevelopment into new luxury townhouses and high-end residential units, driven by buyer demand for newer housing in walkable, amenity-rich locations.