Alta Developers has acquired a development site located at 100 SW 6th Street in Downtown Fort Lauderdale. The property, known as New River Central, was sold by Bizzi & Partners for a total price of $20,750,000. The site is designated for a fully entitled multifamily project with 400 units. The purchase price equates to approximately $51,875 per unit.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $20,750,000
• Units: 400
• Price Per Unit: $51,875
• Square Footage: 42,749
• Price Per Square Foot: $485
• Address: 100 SW 6th Street
• Market: Downtown Fort Lauderdale

The deal was facilitated by Gerard Yetming and Julian Zuniga of Colliers. Colliers International is actively working on multiple similar sites in the area, and interested parties can contact Julian Zuniga for more information. He can be reached at +1(786) 547 0153 or [email protected].