ARA Newmark Brokers $10M Sale of Waterfront Development Site in Fort Lauderdale
FORT LAUDERDALE, FLA. — ARA, A Newmark Company (ARA Newmark) has brokered the $10 million sale of a 0.6-acre waterfront development site at 321 N. Birch Road in Fort Lauderdale. The site has more than 200 feet of frontage on the Intracoastal Waterway and is steps away from the beach and the Atlantic Ocean. The site is approved for an 11-story, 22-unit condominium project, as well as a marina with four 70-foot boat slips. Troy Ballard, Avery Klann and Marc deBaptiste of ARA Newmark represented the sellers, Jeremy Bedzow and Grand Birch LLC. An affiliate of Sobel Co. known as 321 Birch LLC purchased the development site. According to ARA Newmark, the sales price of $454,000 per unit is the new record for land pricing per unit for a non-oceanfront site in South Florida.