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Cushman & Wakefield has been exclusively engaged to arrange the sale of the Owner’s 100 percent fee simple interest in 1625 First Ave North (the "Property"), a fully entitled, 0.73- acre multifamily development site located in St Petersburg, Florida.

The approved site plan consists of a four-story garage podium, with a 15-story, 224-unit residential tower above. The ground floor includes a residential lobby accessed from 1st Street North, a health & fitness center, short-term parking and drop-off area, and support space. The approved garage plan includes storage lockers, and 253 spaces, which includes 11 first-floor spaces.

Situated in Downtown St. Petersburg, one of Florida’s most sought after multifamily investment markets and opportunity zones, the Property will offer residents convenient access to robust institutional employment anchors and all the attractions that make St. Petersburg Florida’s premier lifestyle destination.

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1625 1st Avenue North
0.73 Acres
1625 1st Avenue North
St. Petersburg, FL  33713
Type: Land
Posted: 1/19/2023

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present 2150 Park, 20 fully renovated residences located at 2150 Park Avenue in the heart of South Beach. The property is currently operating as a Short-Term Rental facility with a hotel license in place under the Jurny Brand. The management agreement has the option to be terminated upon a potential sale of the property. It has been performing exceedingly well in the post-pandemic era with ADR levels surpassing $240 and occupancy levels hitting higher than 90%.

The property allows for multiple investment strategies including hotel, apartments, short-term rentals, condo-conversion and condo-hotel. The property was recently completely “gutted” with just the building frame remaining. All “behind the scenes” elements including electrical, plumbing, roofing etc. were replaced. Renovations also featured tile flooring throughout the rooms, upgraded kitchens with stainless steel appliances and modern cabinets, subway tile throughout the bathroom and the shower, new vanities and fixtures as well as modern furniture and light fixtures. With STR being very limited throughout Miami Beach, this truly is a stabilized turnkey, high-end boutique residence that does not exist near the Convention Center.

The property provides furnished units averaging 443 square feet, all 1BR/1BA units. 2150 Park is located only footsteps from the Miami Beach Convention Center, the Bass Museum of Art and the world-renowned Lincoln Road. The property is steps away from some of South Beach’s most iconic resorts including The Loews, The Setai, The Shore Club, The Delano, The W and Faena Miami Beach.

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On Hold
2150 Park
20 Units
2150 Park Avenue
Miami Beach, FL  33139
Posted: 5/3/2022
Cushman & Wakefield is pleased to offer 2825 Wynwood, a 0.96± acre landmark development opportunity strategically positioned at the corner of NW 29th Street and NW 2nd Avenue, Wynwood’s most prominent thoroughfares. Wynwood is globally recognized as Miami’s premier arts and entertainment epicenter. Known for its incredible public murals, trendy restaurants and world-class nightlife, Wynwood has attracted keynote employers such as Spotify, Founder’s Fund, Atomic and OpenStore, who are helping to transform it into Miami’s leading live, work and play environment.

2825 Wynwood is zoned to permit a broad range of uses including residential, retail, hospitality and office, among others. Zoning allows building heights up to 8 and 12 stories (with bonuses) on the southern and northern portions of the site, respectively. The permitted “by-right” residential density is 150 units per acre. (Density can be increased 50% to 225 units per acre through Trust Fund contributions). The property is ideally situated for intense mixed-use development designed to optimize its Main and Main location at the heart of Wynwood.
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2825 Wynwood
Offers Due:  Wednesday, February 8, 2023
0.96 Acres
2825 NW 2nd Ave
Miami, FL  33127
Type: Land
Posted: 12/14/2022
Cushman & Wakefield is pleased to offer 506 SE 8th Street, a 0.56-acre landmark development opportunity in downtown Fort Lauderdale’s bourgeoning “South of the River” submarket. This offering is comprised of two contiguous parcels along the south side of SE 8th Street, just three blocks south of the iconic New River and within a short walk to Las Olas Boulevard. The development site is also located directly across S Federal Highway from the exclusive Rio Vista neighborhood, one of South Florida’s most desirable residential communities.

The Site is zoned RAC-CC, permitting intense, mixed-use development and is ideally suited for high-rise residential development and/or offices. The Site is positioned along the southern end of the Fort Lauderdale CBD, in the path of development with several large-scale projects already planned nearby.
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506 Southeast Eighth Street
0.56 Acres
506 SE 8th Street
Fort Lauderdale, FL  33316
Type: Land
Posted: 12/6/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present 6375 West Irlo Bronson Highway (the "Property"), a 76.84-acre development site located in The Orlando MSA. The offering represents a generational opportunity for a developer to build a truly unique and impactful project that will transform the Orlando MSA.

The Property bears a Commercial Tourist(CT) zoning designation, which is primarily intended for intense tourist-related housing, commercial and recreational, and entertainment uses. The CT zoning designation has only two restrictions, no industrial uses, and a maximum residential density of 80 units per acre.

The Property benefits from its location on the northeast corner of the intersection of Interstate 4 and W Irlo Bronson Memorial Highway (Highway 192), providing easy access to Orlando’s major employment and entertainment destinations. The nearby Tourist Corridor Office submarket is home to 9.8 m.s.f of office space and features major corporate users including Lockheed Martin, Darden Restaurants, Wyndham Destinations, Visitana, and Houghton Mifflin Harcourt. Additionally, the Property is within 10 minutes of over 8.0 m.s.f. of retail and restaurant space and is adjacent to Disney’s sprawling 25,000 acre campus supporting over 77,000 employees.

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6375 W Irlo Bronson
76.84 Acres
6375 W Irlo Bronson Highway
Kissimmee, FL  34747
Type: Land
Posted: 3/24/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present a core-plus investment opportunity to acquire Advenir at Biscayne Shores, a 240-unit garden community in North Miami Beach, Florida. The property is one of only two garden assets that has been built since 2010 that is located east of I-95 in Miami-Dade County. Originally built in 2014, ownership has been in the midst of in-unit upgrades – adding quartz countertops, stainless-steel appliances, hard-surface flooring, and tile backsplashes. There is considerable upside to complete the renovations across all units. As a newly-built property it represents unique garden-style living as opposed to the other mid-rise and high-rises built in the area during the current development cycle. The property is located just off of Biscayne Boulevard, and is minutes from the major employment hubs of Downtown Miami and Aventura with over 23.6 million square feet of office space.
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Advenir at Biscayne Shores
240 Units
12016 NE 16th Avenue
Miami, FL  33161
Type: Conventional
Posted: 1/5/2023
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Avana Cypress Creek, a 220-unit multifamily asset located in Broward County. Delivered in 2009, Avana Cypress Creek represents a tremendous value-add opportunity to continue and expand on the current renovation program. Previous ownership has started renovating the units and is achieving average premiums of $75+. With well-designed floorplans and direct-access garages in 36% of the units, Avana Cypress Creek is poised to better compete with the newer assets which were recently delivered in the market. The current upgrades include vinyl-plank flooring, backsplash, Nest thermostats and other in-unit upgrades. The property is located adjacent to Florida’s Turnpike, providing excellent exposure and connectivity to South Florida’s largest employment centers of Cypress Creek, Sunrise, Plantation and Boca Raton.
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Avana Cypress Creek
220 Units
1700 S State Rd 7
North Lauderdale, FL  33068
Type: Conventional
Posted: 11/8/2022
The 142-acre Carolina Club Golf Course represents a unique and exciting infill development opportunity in suburban Broward County. Subject to rezoning and amendment of the land use plan, the property is ideally suited for a range of residential uses including single family homes, townhouses and garden apartments, consistent with its neighboring subdivisions. Excellent neighborhood circulation and convenient access to major highways places the property within minutes of the region’s most important employment centers, schools and entertainment districts. The neighborhood is served by an abundance of retails shops, dining establishments and grocers, positioning it very well for residential development.
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Carolina Club Golf Course
142 Acres
3011 N. Rock Island Road
Margate, FL  33063
Type: Land
Posted: 11/14/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Centre Lake, a transit orientated, incoming producing, development site. Situated on 11.1-acres, the site is adjacent to the Golden Glades Multimodal Transportation Facility and is currently improved with 234-units. The property is part of an areawide rezoning effort that, upon approval, will increase the "as of right" density to 125 units per acre. An additional 25% density bonus can be achieved by incorporating workforce housing or making a “contribution in lieu” payment.

EXISTING IMPROVEMENTS

Built in 1986, Centre Lake Apartments is a 234-unit single-story, villa-style property. The property is 94% occupied with below market rents. There is $640,000 of loss-to-lease revenue upside potential to be realized by pushing all the rents to market. Market rents are readily attainable of $1,300 for studios; $1,500 for one bedrooms and $1,925 for two bedrooms; 31 units (13%) are currently renting at or higher than these market rents. Assuming all units are at the respective market rents, there is $640,000 in loss-to-lease before capital enhancements. Current ownership has upgraded three units. New ownership can chose to implement a value-add program and receive $150 per unit rent premiums over the market rents which would add another $420,000 in upside income. All one and two bedroom units (69% of all units) have washer and dryer hookups in place.

DEVELOPMENT OPPORTUNITY

The Centre Lake property is positioned within an area that is being considered for up-zoning that would increase the site’s density potential to ± 1,733 units or about 156 units per acre. In September 2022, the Miami-Dade County Commission is scheduled to review a large area rezoning application that would dramatically increase the residential density potential of the N.W. 7th Avenue corridor, including the Centre Lake property, by including it in the North Central Urban Area District (“NCUAD”). As part of the NCUAD, the property will be designated “RM-Core” allowing up to 15 stories and a residential density of up to 125 units per acre "as of right." A density bonus of up to 25% can be achieved by participating in the County’s Workforce housing program, bringing estimated potential density to over 1,700 units. In addition, due to Centre Lake’s proximity to the new Golden Glades Multimodal Transportation Facility, existing bus stops and the Golden Glades Tri-Rail Station, it is eligible for a parking reduction of up to 30%.

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Centre Lake
234 Units
15754 NW 7th Avenue
Miami, FL  33169
Type: Conventional
Posted: 8/22/2022

Cushman & Wakefield is pleased to present the opportunity to acquire Emerson, a Class AA, 66-unit, townhome, build-for-rent community (the "Property"). Developed by Infinia Living, the Property is located in Gainesville, Florida along SW Williston Road, southwest of the University of Florida and southeast of the Butler Shopping District.

Emerson will offer residents top of the market finishes, thoughtfully curated unit features, immediate proximity to retail and dining options, and direct access to a notable medical and higher education employment presence.

Residents will have the options of a single, two, or three-story townhome, ranging in size from 920 s.f. to 2,204 s.f. Floorplans will feature one, two, and three bedrooms with select units including one or two car garages, dedicated terraces, and private yards.

The community’s focus on well-being and fulfillment inspired by Ralph Waldo Emerson will set the Property apart from its competitive set by merging daily life with all aspects of holistic wellness.

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Emerson
66 Units
2601 SW Williston Avenue
Gainesville, FL  32608
Type: Build for Rent
Posted: 10/11/2022
CUSHMAN & WAKEFIELD as exclusive marketing advisor, is pleased to offer Galleria East, an extraordinary mixed-use development opportunity strategically positioned in Fort Lauderdale’s coastal corridor of East Sunrise Boulevard. The site is zoned to permit dense, mixed-use development up to 150’ in height. FAR is unlimited by zoning and residential development is permitted up to 50 units per gross acre, or about 171 units. The Property also has rights to up to 136 parking spaces in the neighboring garage.

The site is located adjacent to the Galleria Mall, ½ block from the Intracoastal Waterway and a less than 10-minute walk from Fort Lauderdale Beach. It is also walkable to multiple retailers (including a Publix grocer) and dining establishments. With 330+ feet of frontage along heavily traveled Sunrise Boulevard, the site is ideally suited for intense, mixed-use development including luxury multifamily (rental or condo), retail, office and/or hotel.
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Galleria East
3.41 Acres
2620 E Sunrise Blvd
Fort Lauderdale, FL  33304
Type: Land
Posted: 2/7/2023
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Milagro Coral Gables, a 237-unit midrise community located in downtown Coral Gables, Florida. Originally built in 2013, Milagro offers the opportunity to implement a significant value-add program including hard surface flooring in the bedrooms, new white cabinetry, quartz countertops, tiled backsplash and new plumbing and light fixtures. Over the last few years, Milagro has benefited from an infusion of capital invested including new exterior paint, upgraded clubhouse and leasing office and renovated pool deck. Milagro is perfectly positioned to implement this renovation program and compete with the new, high-end product in the submarket.

Milagro has one of the most preeminent locations in all of Coral Gables. Situated in the heart of Coral Gables, Milagro is among the most walkable sites in the region boasting a near-perfect 96 Walk Score. Just steps away is the iconic Miracle Mile, the cultural and business hub for Coral Gables with top-tier dining, retailers and Class-A office space. Milagro’s location in Downtown Coral Gables provides residents with an all-inclusive live-work-play environment that compares to Downtown Miami and Brickell alternatives.
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Milagro Coral Gables
237 Units
2263 SW 37th Avenue
Miami, FL  33145
Type: Conventional
Posted: 9/20/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present Ocean 18 Lofts – a fully renovated apartment opportunity in Miami Beach.
The property is situated in the North Beach are of Miami Beach on Normandy Isle, approximately 0.5 miles west of the beach. It is a 3-story building that contains 18 units of which, 11 are studios, five are one bedrooms and 2 are two bedrooms. Ocean 18 Lofts is available below the replacement cost to acquire and renovate comparable properties in the immediate area.
The property has below market rents. There is a loss-to-lease upside of $68,000 or over $300 per unit per month in rental upside by achieving current market rents at the property. Despite all units been fully renovated, there are only two units currently at market rents.
Ocean 18 Lofts is situated on Normandy Isle within Miami Beach. It is walking distance to the beaches, Collins Avenue, and area attractions. The immediate area surrounding the property is poised for significant investment and improvement. The Miami Beach Commission unanimously approved a master plan for the city’s North Beach neighborhood, which stretches from 63rd to 87th Street. The master plan will include a North Beach Town Center and is likely to revitalize the area with hundreds of millions of dollars of new developments and neighborhood improvements.
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Ocean 18 Lofts
18 Units
924 Marseille Drive
Miami Beach, FL  33141
Type: Conventional
Posted: 1/4/2023
CUSHMAN & WAKEFIELD as exclusive marketing advisor is pleased to present this premier development opportunity for sale. Known as Ocean Park Hotel & Residences, this site is ideally positioned just steps from the Atlantic Ocean in Fort Lauderdale, FL. The property is site plan approved for 54 residential condominium units and 100 hotel units in two, 12-story buildings.

Extensive frontage along the heavily traveled Sunrise Boulevard, and 360 degrees of extraordinary views make this parcel an exciting luxury condominium and hotel development opportunity.

In addition to its immediate access to world-renowned Fort Lauderdale Beach, the property is easily walkable to the Galleria Mall, Hugh Taylor Birch State Park and the Bonnet House museum. Downtown Fort Lauderdale is located just two miles away.

Ocean Park Hotel & Residences offers a developer the rare, infill opportunity to create a marquee project within the coastal community of Fort Lauderdale Beach.
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Ocean Park Hotel & Residences
1.26 Acres
2870 E Sunrise Blvd.
Fort Lauderdale, FL  33304
Type: Land
Posted: 1/12/2023
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire One Park Place (the “Property”) – a 20-unit condominium community with an additional 10,664 square feet of ground floor retail space located in Lake Park, Florida. The property was built in 2018 and features 20 condo-quality oversized units that feature high ceilings, hard flooring, modern kitchens, in-unit washer/dryer and large patios/balconies. The property was built with the intent to sell units as individual condos. No units were ever sold and ownership controls 100% interest in the property. The property also features 10,664 square feet of unfinished ground floor retail area that allows the new owner to generate more than $260,000 in additional rental revenue. The property is currently 100% occupied and has maintained a 95%+ occupancy over the past few years. With in-place rents averaging only $1,655 per unit or $1.51 per square foot, there is at least $480 per unit upside potential by simply eliminating the loss-to-lease, and moving rents to market. The property is located along Park Avenue in Downtown Lake Park.
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One Park Place
20 Units
801 Park Avenue
Lake Park, FL  33403
Posted: 8/29/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Pinebrook Pointe, a 394-unit garden-style asset located in Broward County, Florida. Originally built in 1989, Pinebrook Pointe has tremendous value-add upside with the opportunity to expand on the current renovation program including new white cabinetry, quartz countertops, stainless steel appliances, new electrical fixtures, smart home features and more. Over the last few years, Pinebrook Pointe has received an infusion of capital invested into the property including adding vinyl plank flooring throughout select units and fully upgrading ~50% of the units. Pinebrook Pointe is perfectly positioned to implement this renovation program and compete with the newer product in the submarket.
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Pinebrook Pointe
394 Units
3495 Pinewalk Drive North
Margate, FL  33063
Type: Conventional
Posted: 12/7/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Residences at The Green, a 300-unit, luxury, garden-style apartment community located in Bradenton, Florida (the "Property"). Completed in 2019, the Property is situated on 11.2 acres within the master-planned Lakewood Ranch Community, the best-selling, master-planned, multi-generational community in the country for the last five years.

Residences at The Green features three, four-story residential buildings and four garage buildings. The apartment homes average 1,056 s.f. across one, two, and three-bedroom floor plans. Unit interiors feature stainless steel appliances, granite countertops with gourmet kitchen islands, custom designed cabinetry, pendant lighting, luxury vinyl flooring, walk-in closets, full-size washer & dryers and private balconies. The Property boasts an impressive amenity package including a resort style pool and sundeck, outdoor fireplace & tv lounge, custom grilling & outdoor dining area, custom designed fitness center with specialized cardio equipment & fitness on demand training, wine tasting room overlooking the pool deck, a sports room with billiards, a professional business center, indoor dog parlor & pet salon, dog park, and easy access to miles of running and bike trails among other offerings.

Residences at The Green was developed by highly respected, Class "A" mixed-use developer, Tavistock Development Company and is designed to be a part of a thriving mixed-use community. The Property stands out from its peers as the only multifamily community in Lakewood Ranch with a walkable, integrated grocery-anchored retail and town center consisting of over 133,000 s.f. of retail space, featuring tenants such as Starbuck’s, Chipotle Mexican Grill, Panera Bread Company, Burgerfi, LA Fitness, CVS and Winn Dixie. In addition to its on-site retail, the Property benefits from its position within CORE, a 305-acre research and medical hub that will house over 4.5 m.s.f. of office, research, residential and commercial space.

The Property is ideally located at the epicenter of Lakewood Ranch at the intersection of Lakewood Ranch Boulevard and State Road 70. Residents benefit from easy access to extensive retail and recreational offerings, “A” rated schools, and an abundance of employers. The Property’s location is minutes from I-75 providing direct connectivity to the I-75 Corridor Office Submarket, home to more than 21 m.s.f. of 94% occupied office space and convenient access to more than 65 m.s.f of office space throughout the Tampa and Sarasota MSAs.

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Residences at the Green
300 Units
11645 Monument Drive
Bradenton, FL  34211
Posted: 1/20/2023