Cushman & Wakefield’s Denny St. Germain and Robert Supplied with 1151 Southwest Ninth Avenue in Fort Lauderdale (Cushman & Wakefield, Google Maps)
Denny St. Romain and Robert Presented are normally brokering land income for anyone else. But in a latest $22 million offer for 11 nearly vacant acres in Fort Lauderdale, the Cushman & Wakefield brokers are the customers.
The duo’s Delaware entity, New River Point, paid out $2 million an acre for a two-bedroom dwelling accomplished in 1958 at 1151 Southwest Ninth Avenue, and five adjacent and contiguous vacant parcels, records and Vizzda demonstrate. Zoned for solitary-family enhancement, the assemblage is around five estate residences fronting a canal.
New River, whose president is St. Romain, attained two balloon home loans totaling $16.5 million from the vendor, an entity managed by Michael and Gene Whiddon in Fort Lauderdale, information clearly show. The Whiddons obtained the properties by way of give up claim deeds from Angelyn Whiddon in 2012.
Angelyn Whiddon paid $18,000 for the six loads in 1968, information clearly show. In 2017, the Whiddons submitted ideas with the town of Fort Lauderdale to rezone the assemblage for 215 multifamily units, but they did not move ahead, metropolis data show.
Presented declined remark by means of e-mail. St. Romain did not respond to two voicemails searching for remark.
In June of past yr, Offered was component of an investment decision group that marketed the greater part of a 1.3-acre enhancement web-site at 409 Southeast Eighth Avenue in Fort Lauderdale. The potential buyers, a partnership concerning Jorge Pérez’s Connected Team and Henry Pino of Alta Growth, paid out $15.5 million for the assets.
Presented invested in the true estate on his personal, individually from the brokerage, he beforehand instructed The True Offer. His entity paid out $11.3 million for the total good deal in March of previous 12 months, flipping 1 acre to Associated and Alta for a $4.2 million gain.
Progress web site sales have slowed relatively recently from their pandemic highs. Last thirty day period, A Delaware entity tied to Coral Gables trader Maria Menzel compensated $12.5 million for six vacant parcels in Miami’s Edgewater, information show. Also last month, Rishi Kapoor’s bought a Coral Gables enhancement internet site for $35.6 million.
