Starwood, JAG, Bachow Ventures Acquires Development Site In Fort Lauderdale For $7M

The development site located at 818-824 NE 4th Avenue in Fort Lauderdale has been sold in a recent transaction. The property, consisting of 379 units, was sold by 818 Ventures to a group of buyers including Starwood, JAG, Bachow Ventures - represented by Noah Bachow, and Brefrank Enterprises. The sale was facilitated by brokers Bradley Arendt and Mika Mattingly from Colliers. The transaction was closed at a sale price of $7,000,000, resulting in a per unit price of $18,470. The building has a total square footage of 58,500, translating to a price per square foot of $120.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,000,000
• Units: 379
• Price per Unit: $18,470
• Total Building Square Footage: 58,500
• Price per Square Foot: $120

The deal involved various buyers, including Starwood, JAG, Bachow Ventures represented by Noah Bachow, and Brefrank Enterprises. The sellers were 818 Ventures. The transaction was facilitated by brokers Bradley Arendt and Mika Mattingly from Colliers.