488 SW First LLC Acquires Development Site In Fort Lauderdale From SWLFB LLC For $16M

A development site located at 488 SW First Avenue in Fort Lauderdale has recently been sold for a reported price of $16,000,000. The property, with a total square footage of 26,292, is situated in a prime location in the Fort Lauderdale market. The buyer, identified as 488 SW First LLC, acquired the site from the seller, SWLFB LLC. The transaction took place on May 5, 2022, and the sale was facilitated by James Ellis of Ellis Diversified.

Summary of Transaction Details

• Property Type: Development Site
• Sale Price: $16,000,000
• Address: 488 SW First Avenue, Fort Lauderdale
• Market: Fort Lauderdale
• Buyer: 488 SW First LLC
• Seller: SWLFB LLC
• Seller's Representative: James Ellis - Ellis Diversified
• Total Square Footage: 26,292
• Price Per Square Foot: $609

James Ellis, representing Ellis Diversified, played a crucial role in facilitating the sale of the development site at 488 SW First Avenue. Both the buyer and the seller were part of limited liability companies, with 488 SW First LLC identifying as the buyer and SWLFB LLC as the seller. The transaction was completed on May 5, 2022, marking a significant deal in the Fort Lauderdale market.