Lee & Associates Represents Buyer In $7M Lauderhill Sale

A sale transaction occurred for the property located at 1901 N State Rd 7, Lauderhill, FL, 333..., within the Lauderdale Lakes market. The property was sold by 2001 Property Ventures, LLC for a transaction amount of $7,000,000. The development site will be part of the 441 Arthouse project, which is set to include residential units and commercial space.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $7,000,000.00
• Buyer: Undisclosed
• Seller: 2001 Property Ventures, LLC
• Buyer's Representative: Matthew Jacocks-Lee & Associates
• Closing Date: November 17
• Future Development: 245 apartments and 10,000 square feet of commercial space

Matthew Jacocks, representing both sides of the transaction through Lee & Associates South Florida, is collaborating with Yury Gnesin for the upcoming construction of the 441 Arthouse project. This project has received initial approval from the City of Lauderhill for development. Once site plan approval is obtained, the project aims to address the residential demand in the vicinity.