Kushner Providers and Aimco sold a portion of an assemblage in Fort Lauderdale to rental developer Harvey Hernandez.
Hernandez’s Newgard Progress Team paid out $31.2 million for the 1-acre assets at 200 West Broward Boulevard, near the Brightline station. The sale was finalized on Friday.
Kushner obtained the web site as aspect of a much larger assemblage, and introduced in Aimco in early 2022.
Kushner and Aimco compensated $49 million for the total internet site that provided 300 and 520 West Broward Boulevard. The builders afterwards secured a zoning modify to the maximum density, for a blended-use venture that named for 1,300 household models, place of work, retail and a hotel throughout 4 towers.
Kushner and Aimco sold the .8-acre 520 West Broward Boulevard house a year in the past to Woodfield Enhancement.
Newgard’s recently obtained property is zoned for a 49-tale setting up with 381 household units, about 8,300 sq. ft of professional room and 426 parking spaces. The developer did not say whether the challenge will be condos or flats.
Kushner and Aimco prepare to build the property at 300 West Broward Boulevard into virtually 1,000 models. Development could begin up coming year, in accordance to a supply. The builders obtained approval from the Fort Lauderdale Growth Assessment Committee this summer time for a 956-unit tower.
Newgard’s other developments include the Gale Residences & Hotel in Fort Lauderdale, and the organization is creating Lofty Brickell, a prepared 44-tale condo tower fronting the Miami River. The developer claimed the latter is much more than 94 p.c offered.
Kushner also has tasks in Miami Gardens and in Miami’s Wynwood and Edgewater neighborhoods.
Earlier this 12 months, Kushner and the Miculitzki family’s Block Money Team shut on a $91 million refinancing of Wynd 27 and Wynd 28, a two-setting up condominium, office and retail venture at 127 Northwest 27th Avenue and 129 Northwest 26th Avenue in Wynwood.
In a separate deal, Kushner and PTM Partners system a 1,300-device, two-tower condominium enhancement in Edgewater.
