Cushman & Wakefield Tapped To Sell Amaray Las Olas
The owners of one of Fort Lauderdale's newest towering apartments are looking to reap its $3.11/SF average rents by seeking a new owner.
The Rockefeller Group and Stiles Corp have tapped Cushman & Wakefield to market Amaray Las Olas, a 30-story, 254-unit apartment tower at 215 SE 8th St, about a mile from Lauderdale Harbours. Amaray Las Olas is one of the newest apartment towers in the area; residents started to move in last April.
With average market rates of $3,488/month, and average unit sizes of 1,123 SF, rents are topping $3/SF and the entire project is 96% leased, according to Cushman & Wakefield. Robert Given, Zachary Sackley, Troy Ballard and Neal Victor, all with Cushman & Wakefield, are marketing the property at an unlisted price.
“Amaray Las Olas represents the first urban high-rise to come to market in South Florida in over a decade, thus making it a generation acquisition opportunity,” Given said.