Vladislav Doronin Acquires Fort Lauderdale Development Site For $63M Including $33M Loan

A development site located at 629 Southeast Fifth Avenue, 633 South Federal Highway, Sixth Avenue, and Fifth Terrace in Fort Lauderdale has been sold for $63,000,000. The property spans a total of 291,852 square feet and includes 251 units, resulting in a price per square foot of $215 and a per unit price of $250,996.

Summary of transaction details

• Property Type: Development
• Transaction Amount: $63,000,000
• Loan Amount: $33,000,000
• BSF: 291,852
• PPBSF: $215
• Units: 251
• PPU: $250,996

In this transaction, the lender MSD Partners, represented by Michael Dell, provided a loan amount of $33,000,000. The landlord of the property is identified as OKO, although no further information is available regarding this entity.