Adler Realty Negotiates Sale Of 2-Acre Ft. Lauderdale Landmark Site

Oct 08, 2015 No Comments by

Downtown Fort Lauderdale has been undergoing a dramatic transformation. With new developments reshaping the skyline, many developers are on the prowl for land sites that will redefine the Riverwalk neighborhood.

That is what drew Jim Ellis, a Fort Lauderdale developer to the Gross Family’s landmark site near the river.

After placing the 2-acre site on the market, it only took four months for Adler Realty Services to close the deal. The downtown Fort Lauderdale site sold for $7.2 million.

Adler’s Elliot Anker and Daniel Heisler represented the Gross Family in the transaction.

 

According to Mark Gross, “For over 20 years, the Gross Family has held on to the property, waiting for Ft. Lauderdale City Commissioners, to make available, scarce waivers of moratorium for downtown. Without development rights from the City, our properties’ value was severely depressed. The timing was finally right and Elliot’s and Dan’s work for us was outstanding.  From day 1, they hit the ground running; aggressively marketing our property to a well defined group of prospective buyer/developers.

The site is located next to the New River Yacht Club and steps away from Riverwalk.  Ellis, the buyer, plans to develop a 380-unit multifamily project and a free-standing parking garage on the larger parcel.

 

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Broward County Multifamily, Industry News, Multifamily, NA
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