Newgard Development Group Acquires Future Development Site In Downtown Fort Lauderdale
The land has entitlements for a 49-story building with 381 residential units, 8,256 square feet of commercial space and 426 parking spaces.
The land has entitlements for a 49-story building with 381 residential units, 8,256 square feet of commercial space and 426 parking spaces.
Local downtown real estate investor Shai Ben Ami, Broker-Principal of Urban Core, represented Centro Retail Downtown, an entity managed by Ben-Ami along with Israeli public company partner Mishorim Investments, as well as the buyer, Ocean Bank, in the sale and purchase.
The parcels sold for a total of $7 million which, coupled with the recently acquired 1.6-acre riverfront property on 7th Street, brings Newgard’s total land investment to $57.5 million.
Gil Blutrich, CEO of Mishorim Development Group LTD, along with local partner Shai Ben Ami, purchased the 4,350-square-foot ground floor retail space at the 37-story tower. CLICK ON THE HEADLINE FOR MORE
A Hialeah-based entity purchased the 10th floor of the office condo property. CLICK ON THE HEADLINE FOR MORE
According to a source, the ixed-use tower would include market-rate apartments plus an as-yet undetermined use. CLICK ON THE HEADLINE FOR MORE
The building’s office condo conversion is taking place as the downtown Miami office market continues to strengthen. CLICK ON THE HEADLINE FOR MORE
CIASF will be presenting a project overview, followed by a discussion from the players who will transform downtown in office, retail and residential sectors. CLICK ON THE HEADLINE FOR DETAILS
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