Originally acquired in 2021, the campus was repositioned through a multi-year strategy to concentrate tenancy, enhance the office assets and unlock a portion of the site for residential development, enabling two distinct paths for value creation.
The sites offer the opportunity to construct 3.1+ million gross square feet, across multiple towers and to a height of 1,049 feet. By-right uses include condominium, hotel, office, retail, or any combination, thereof.
The team has closed over $25 billion in multifamily transactions.
The approved plans included 180 residential units, 70 hotel rooms and 9,508 square feet of ground-floor retail.
C&W’s Calum Weaver, Garrett Pordes, Robert Given, Zach Sackley and Troy Ballard of Cushman & Wakefield represented the seller, Finvarb Group, in the transaction.
Calum Weaver, Robert Given, Zach Sackley, and Troy Ballard of Cushman & Wakefield represented the seller, Boardwalk Properties, in the transaction.
Calum Weaver, Robert Given, Zach Sackley, Troy Ballard and Garrett Pordes of Cushman & Wakefield will oversee marketing efforts.
The property, which is situated at 942 Northeast First Avenue, will be home to the Legacy Hotel & Residences, a 50-story mixed-use tower with 274 branded residences atop a 256-room hotel.
A .63-acre development site in Fort Lauderdale just traded hands for $10 million, or just over 454,000 per unit. CLICK ON THE HEADLINE FOR MORE
A West Palm Beach developer paid $2.3 million per acre. CLICK ON THE HEADLINE FOR MORE
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