Biggest Bulk Buy Sells Out for $13M

FORT LAUDERDALE, FL-Less than a year after mckafka Development Group closed on the then-biggest bulk condo deal in the city, the 62 units at Los Olas by the River have officially sold out for $13.3 million. Mckafka bought the units in the seven-story residential building from California-based Montecito Property Co. last July for $10.2 million.

McKafka sold the last 10 units on May 23. Most of the 62 units sold to foreign investors from South America and Europe. The two-and three-bedroom units range in size from 1,123 to 1,462 square feet and were priced between $175,000 and $264,000.