The project will deliver 384 apartment residences totaling approximately 391,747 square feet featuring structured parking and an extensive suite of lifestyle-focused, state-of-the-art amenities.
The deal was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors.
Berger Commercial Realty has also been retained as the exclusive leasing agent for the project. Keith Graves, Jonathan Thiel, Daniel Forman, and Lawrence Oxenberg will lead leasing efforts, bringing extensive market expertise and tenant representation experience to the assignment.
Selling for $4.7 million on Jan. 8, the property was designated a Federal Brownfield site in 1999. Stigliano Commercial Real Estate was instrumental in guiding the cleanup process and worked collaboratively with the property owner on redevelopment plans for more than seven years.
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Jonathan De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, represented the sellers in the transaction.
Cushman & Wakefield’s Scott O’Donnell, Deme Mekras, Miguel Alcivar, Greg Miller and Mike Ciadella represented iHeart in the transaction.
Before joining Illustrated, he led a high-producing team at BluEdge with nearly $80 million in combined commercial and residential volume across Palm Beach County and the Treasure Coast.
ONE Sotheby’s International Realty will handle the sale through an online auction starting December 3, with a live bidding event in New York on December 17.
The new company brings together decades of experience and billions in real estate transactions under one roof, positioning itself as a “one-stop shop” for clients seeking top-tier commercial brokerage expertise across Florida.