MIAMI—Miami doesn't have a corner on new multifamily development. Broward County is pushing its own projects forward with a new development site selling in Sunrise.
Aventura-based K-Group Holdings just sold a 6.9-acre multifamily development site in the heart of Sunrise to West Palm Beach-based Richman Group of Florida. The sale price was $15.4 million. At over $2.3 million per acre, this sale represents a high-water mark for land prices in Sunrise according to ARA.
ARA's South Florida Land Division senior vice president Troy Ballard was the lead advisor, representing the seller. ARA principals Avery Klann and Marc deBaptiste supported Ballard on the deal.
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