Shutts & Bowen Partner Scott Marcus recently facilitated the $6 million sale of 4.93 acres connected to the Fort Lauderdale First Church of the Nazarene (2300 S.W. 15th Ave.) which will be used to launch a new residential community.
The land was acquired by FL-5 Holdings, LLC, an affiliate of the Miami-based 13th Floor Homes. FL-5 Holdings plans to develop the church land as part of its planned Marina Landings residential community, which is expected to include 34 homes with an average six of 2,800 square feet and four bedrooms, with prices expected to begin in the low $1 millions.
Marcus said the transaction was the result of approximately three years of effort, something which involved extended contract negotiations and title matters amidst the Covid pandemic.
“We are very pleased to successfully bring this transaction to a close for our client,” said Marcus
Marcus, who is a member of Shutts’ real estate practice group, has more than 25 years of transactional commercial real estate experience, counseling clients in purchases and sales of raw land, industrial, multi-family and retail properties.
Related News:
- "Developer buys Fort Lauderdale church site, launches home sales," South Florida Business Journal, August 31, 2023
- "13th Floor launches sales of Fort Lauderdale single-family development," The Real Deal, August 31, 2023
About Shutts & Bowen LLP
Shutts & Bowen, established in 1910, is a full-service business law firm with approximately 270 lawyers in offices in Ft. Lauderdale, Jacksonville, Miami, Orlando, Sarasota, Tallahassee, Tampa, and West Palm Beach. Learn more about Shutts & Bowen at www.shutts.com.