Fort Lauderdale’s Flagler Village neighborhood just north of downtown has attracted many apartment projects and now it could get its first new condo tower.
BRYL Development will take its plans for the Flagler 626 building before the city’s Development Review Committee on March 22. It calls for a 12-story building with 99 units, 105 parking spaces, and a pool. The building would total 185,531 square feet.
It would be on the 0.62-acre site at 626, 630 and 636 N.E. 1st Ave. The developer acquired the property for $725,000 in 2014.
Doron Broman, who manages BRYL along with Uri Redler, Shimon Langbart and Doron Brown, said there are too many rental projects in Flagler Village and there’s a need for an affordable condo project. His partners are from Israel and two of them are also investors in the Canvas condo project that recently started construction in Miami.
“We like Flagler Village a lot,” Broman said. “It reminds us of Wynwood with the creativity and the artists so outside of downtown.” Broman said units in Flagler 626 will be priced around $350 per square foot considerably less expensive than condos in Miami or on Fort Lauderdale beach. The units will average 1,100 square feet, he said.
The design plans show units ranging from 671 to 1,580 square feet. However, 67 units would be less than 1,000 square feet. That means prices would start in the mid-$200,000s. Flagler 626 would also have four ground-floor townhouses, ranging from 936 to 1,345 square feet.
“It’s a lower entry point,” Broman said. “As the economy gets better and the middle class is improving, people will have the confidence to buy housing. By the time those condos are ready to sell and finished two years from now, we think the economy will be even better.”
The South Florida economy has done well with steady job and wage growth. However, new condo sales have slowed down in recent months, mostly due to foreign investors impacted by the strong U.S. dollar.Broman said Flagler 626 will employ the deposit model used by most Miami condo projects: 10 percent at reservation, another 20 percent at ground breaking, another 20 percent during construction, and the rest at closing.
Some real estate experts have questioned whether the deposit-heavy Miami model can work in Fort Lauderdale. Broman predicts it will be successful. He needs to sell half of its units to break ground. He expects to sell about 25 units to the domestic market and 25 to international investors, since renting the condos out should generate a nice return.Broman added that his partners recently sold 35 units at Canvas to Israeli investors.Flagler 626, which has a brick facade, was designed by Nest Plans’ Stewart Robin. The attorneys on the project for the developer are Stephanie Toothaker and Jordana Jarura of Tripp Scott.
Source: South Florida Business Journal
Construction of the Langford Hotel in Downtown Miami is racing towards completion, with a revised estimated opening date of 'winter 2015,' exteriors basically finished, and the interiors extremely close to being done. Located in an historic bank building, the name refers to the surname of the building's builder in 1920s Miami, a Mr. Langford.
Listed on the National Register of Historic Places, the beaux arts building' interiors were sadly mostly already gone, but remaining elements have been meticulously preserved and often replicated or recreated when missing. The original cornice in the lobby has been recreated from a salvaged scrap. The sculpted three lintels above the street-fronting doors were duplicated from the one remaining original. The elevator doors are being preserved and restored. The original letter box, an elaborate vault-like vessel hanging from the wall, is an ode to the onetime supreme importance of the US Postal Service.
The hotel will have two restaurants, on the first floor as well as the roof, both operated by the Pubbelly Group, a small first floor lobby and a larger second floor lobby with lobby bar and library. The building was originally 11 stories, but a twelfth has been added containing the rooftop restaurant, an outdoor dining terrace, and the upper level of the two-story penthouse. Rare for Miami, the building even has a basement, albeit a very small one.
When I made less than $30,000 in 2007 I was trying to sell houses as a real estate agent and flip houses with my father. I loved flipping houses, but was less excited about selling houses as a real state agent. I did not like cold calling, holding open houses, talking on the phone or many of the other tasks it takes to be a successful agent. I wanted things to happen for me, without stepping out of my comfort zone. It was no surprise that I did not find much success and I did not make much money as an agent. It is pretty rare to find success if you aren’t willing to step out of your comfort zone and take chances.
The biggest mistake I made that year was fixing up one of our flips myself. I replaced windows, doors, a kitchen, baths, flooring and fixtures. I worked very hard to fix up this house and it took me six months to finish. I learned a lot about construction during this process, but I also learned to never fix up a house myself again!
While I was busy fixing up this house, we were not buying more flips and I was not selling any houses as an agent. I didn’t have time to do anything else and it was not fun doing manual labor every day. Even though I thought working on this house myself would save me money, it cost me much more money in opportunities lost. The really sad part was we lost money on this house, because of a declining market and it took me so long to repair it.
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The former consumer market was built in 1993 in monolithic construction and equipped according to the requirements at that time. The tenancy agreement was terminated on 25.02.2017, the business is discontinued. The property is already ready for use.
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DescriptionTotal area is 1,769 m²The construction of warehouse will be completed in 2017.
Financial performanceAbsolute income is 300,000 €.The current yield of 7%
-Modern tilt slab construction-Timed security gate access for before and after business hours-24 Hour CCTV Security Surveillance-Electric container height roller door-Excellent clear span warehouse area-Multiple allocated on site car spaces-Excellent amenities including shower
Unique Estates present to your attention a unique building, located on Lion's bridge square, one on the symbols of Sofia. The bridge is decorated with four bronze statues of lions, from where it's name comes from. The construction of the bridge is done by the famous Czech brothers Prosek. The building and the decoration of the bridge is done according to the project of Vaclav Prosek, while the lions' figures are done by the Viennese company Philip Waagner Biro, and were placed there in 1891. The area is very central, with roundabout and metro station, and many good transport connections. Close to the hotel many shops, banks and institutions are located.
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Unique Estates has the pleasure of presenting to your attention this unique project of gated, luxury building, with the comfort of 5-star hotel. The construction started and it will be with the most modern technologies, covering all world-class standarts.Various types of apartments can be bought in the building - with different exposure, area and floors. Next to each big apartment there is a small one, which can be united with the big one.All the apartments will be finished with the specifications of the future owners.The price is VAT included
This property will be sold by AUCTION on Wednesday, July 13th at 12 Noon. The auction will be held on site at the property. Inspection will be held the day of sale from 11 AM. Everyone is welcome to attend the auction. This new construction, two-story building consists of 17,356 square feet of concrete walls and hurricane impacted windows and doors on 0.60 acres. Each floor has over 7,600 square feet of Flex Space and is ready for your final touches! There is ample parking spaces on site, including covered parking under the building along with elevator access. This property comes equipped with its own alarm and sprinkler systems, as well as its own HVAC and water heater on each floor. Zoned Commercial General
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FULLY ENTITLED AND READY FOR CONSTRUCTIONPlans for Building 100 submitted for reviewSite plan provides for 125,000 up to 1,000,000 SF buildings – single and multi-tenantMaster planned for efficient traffic flow, building usage, and consistent architectural controlsUtilities in placeExperienced industrial developer – over 40 million square feet developed in Southeast U.S.
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