Jorge Pérez & Jon Paul Pérez Of Related Group Acquire Development Site In Fort Lauderdale For $9.28M

The transaction involves 8.16 acres of mostly vacant land located at 6700 North Andrews Avenue in Fort Lauderdale, FL. The sale price is set at $9,280,000. The property is intended for development as Manor Cypress Creek, which will feature an eight-story building comprising 422 residential units, including 62 workforce units, along with 591 parking spaces and amenities such as a pool and fitness center.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $9,280,000
• Buyer: Jorge Pérez & Jon Paul Pérez - Related Group
• Seller: Yoav Merary - Naya USA
• Market: Fort Lauderdale, FL
• Acres: 8.16
• Development Plan: Manor Cypress Creek, 422 units, 62 workforce units, 591 parking spaces

The deal features key individuals Jorge Pérez and Jon Paul Pérez, who are both associated with the Related Group, acquiring the land from Yoav Merary, who represents Naya USA. This acquisition marks a significant step in the planned development of a multi-unit residential project aimed at enhancing housing options in the Fort Lauderdale area.