Finvarb Group Adds To Deerfield Beach Assemblage With Acquisition Of Mixed-Use Property For $9.3 Million
Ronny Finvarb’s Finvarb Group has added to their Deerfield Beach assemblage with the acquisition of a mixed-use property at 233-245 N. Ocean Dr. in Deerfield Beach for $9.3 million. The 60,310 SF property was developed in 1988 and features a mix of office and retail tenants including Remax and 4D Gelateria.
Ronny Finvarb’s Finvarb Group has added to their Deerfield Beach assemblage with the acquisition of a mixed-use property at 233-245 N. Ocean Dr. in Deerfield Beach for $9.3 million. The 60,310 SF property was developed in 1988 and features a mix of office and retail tenants including Remax, 4D Gelateria, RNR Securities and Umberto’s Pizza. It was 97.2% leased at the time of transaction. The seller was Atlantic Pavillion Holdings who acquired the property in 2012 for $2.7 million.
233-245 N. Ocean Dr. is located adjacent to a 41,679 SF parking lot and JB’s on the Beach, a 9,000 SF beachfront restaurant located at 300 NE 21st Ave. which Finvarb Group acquired in March 2021 for $11 million. The most recent acquisition completes a complex transaction for the entire assemblage which totaled $20.4 million and was financed with a $14.2 million acquisition loan from Apollo Bank.
The Miami Beach-based Finvarb Group is led by hospitality and real estate investor Ronny Finvarb and one of the fastest-growing real estate development companies in the nation. Finvarb Group has developed and owns hotels in Miami Beach as well as different parts of Florida, Arizona and Texas. They recently completed the Kobi Karp-designed Kimpton Palomar South Beach which features Osteria Morini Miami Beach, a trendy, high-end Italian restaurant operated by the award-winning Altamarea Group.
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Ellish Builders Launches Little Harbor Estates Collection of Luxe-Waterfront Homes In Deerfield Beach
Ellish Builders has launches sales at Little Harbor Estates in Deerfield Beach, a collection of six luxury waterfront single-family homes. Tinka Ellington of Douglas Elliman is heading sales for custom homes which range from $2.9 million to about $3.5 million.
Ellish Builders has launched sales at Little Harbor Estates in Deerfield Beach, a collection of six luxury waterfront single-family homes. Tinka Ellington of Douglas Elliman is heading sales for custom homes which range from $2.9 million to about $3.5 million. Homes at Little Harbor Estates range from 4,900 SF to 5,700 SF and have between 90’ and 100’ of deepwater frontage. The six lots are located at 28, 30, 58, 60, 62 and 64 Little Harbor Way, with the exception of the first home which is scheduled for completion in October, the rest of the homes will be custom built as they are sold and designed by the buyer. Buyers will put down a $10,000 deposit for architectural drawings in addition to a $25,000 deposit for the land. The community is centrally locates between the Hillsboro and boca Inlet and right across from Royal palm yacht and golf club. The land has never before been developed, was acquired by Ellish Builders for $4 million in 2017, and is inside an exclusive, private neighborhood.
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Fouquet’s Hotel & Residences, Miami Design District has unveiled more than 40,000 square feet of amenities designed by RDAI, the Paris-based studio behind Hermès stores worldwide. The 143-residence development pairs rooftop leisure and wellness spaces with direct access to an 85-key Fouquet’s hotel.