Thomas Neary Of Bowery Properties Acquires Multifamily Asset The Queue In Fort Lauderdale For $47.75M

The Queue, a 191-unit boutique Class A midrise apartment community located at 817 Southeast 2nd Avenue in Fort Lauderdale, was sold for $47,750,000. This multifamily asset encompasses 296,703 square feet, translating to a price per unit of $250,000 and a price per square foot of $160. The property, built in 2017, occupies 1.56 acres and includes features such as structured garage parking, a two-story fitness center, and a zen garden courtyard.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,750,000
• Buyer: Thomas Neary - Bowery Properties
• Seller: Paul Coelho - ETXE IV, Inc
• Brokers: Calum Weaver, Robert Given, Zach Sackley & Troy Ballard - CBRE
• Units: 191
• Square Feet: 296,703
• Price Per Unit: $250,000
• Price Per Square Foot: $160

This acquisition marks Bowery Properties' third major transaction in South Florida within the last year, further solidifying the firm's position in the multifamily market with a total of 787 units acquired during this time. Previous acquisitions include Windward Vista, a 352-unit community in Lauderhill, and The Stratford, a 244-unit property in Kendall.