Pinecrest Village Begins Apartment Sales

FORT LAUDERDALE-Apartment sales have begun for New York-based Tarragon Realty Investors Inc.’s condominium conversion project Pinecrest Village at Victoria Park here. Forty-four apartments were sold between Jan. 4, when sales began, and early Jan. 8.

Tarragon has more than $12 million budgeted for the property’s renovation and improvement. Pinecrest Village is the first project headed by Richard Schaffer, Tarragon’s new managing director for Florida condominiums.

Consisting of about 240 reconfigured and reconstructed luxury apartments, the building is located at the gateway to Victoria Park, next to downtown. Units are priced from $150,000 to $350,000, which is low for the area.