The Colliers’ Real Estate Development Division – once focused on commercial buildings – is leveraging its extensive expertise in Construction Management to assist condo boards with multi-million-dollar capital improvements and renovations mandated by the Building Safety Act.
The vacant site is comprised of five adjacent parcels of land divided by SW 14th Place with three parcels to the north and two parcels to the south.
Pulso Capital purchased the property for $551,282 per unit.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam J. Tiktin and Alex Lazo represented the seller, GSK Hollywood Development Group, LLC.
Plans call for a midrise design and programming for 252 residential units across studio, one, two, three and four-bedroom units as well as over 300 parking spaces.
The transaction equated to $176,944 per unit.
JLL Capital Markets closed the sale and secured the equity for the 793-unit Modera Academical Village.
Judith (Judy) A. Dolan, Senior Vice President with Levy Realty Advisors, LLC, and Stephen Hyatt, Senior Vice President with Berger Commercial Realty, joined forces to sell the two adjoining properties in Fort Lauderdale.
“Having delivered one of our first luxury multifamily projects in Plantation more than a decade ago, we remain highly invested in the city of Plantation and are thrilled to have the opportunity to bring the next generation of amenity-rich, luxury living options to the area with The Ellsworth,” said Jeff McDonough, Stiles Residential Group President.
One of the few remaining vacant parcels in the central business district, the property is primed for office, multifamily, hotel, or mixed-use development totaling more than 500,00 square feet of rentable space.
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