Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Vacant Land In Downtown Fort Lauderdale
The transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, who represented the seller.
The transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, who represented the seller.
The mixed-use property features a 20,150-square-foot class A office building with an attached 18,048-square-foot private hangar that can accommodate up to four planes, a luxury 2-bedroom/2-bathroom apartment overlooking the runway, and a prime development opportunity for fee simple-owned land zoned for additional airplane hangars or industrial development.
Senior Director Yoav Yuhjtman, along with Senior Managing Directors Roberto Pesant and Jaret Turkell, and Associate Director Omar Morales of Berkadia South Florida led the transaction on behalf of the seller, New York-based real estate investment firm Axonic Properties.
Forman Capital’s Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of the borrower/sponsor. Jay Miller, Spencer Miller and Noah Rothman of BayBridge Real Estate Capital brokered the financing. The transaction closed on August 29.
The tower, which has already achieved a 75% pre-sale rate, is slated for completion in 2025. Condo units range in size from 900 to 4,750 square feet, with prices from $675,000 to $4.4 million.
Native Realty’s Jaime Sturgis and Sara Dorfman closed the property sale on behalf of the seller after just 21 days on the market.
The portfolio consists of 16 apartment buildings.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
The joint venture is planning a significant project following a $48.5 million acquisition in the city’s waterfront Harbordale neighborhood.
Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
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