FORT LAUDERDALE, Fla. (August 23, 2019) – Berger Commercial Realty/CORFAC International Senior Vice President Steve Hyatt recently represented Colony Apartments, Inc. in the sale of Coral Cay to Contentus North Beach, LLC for $3.8 million. Following the closing on August 1, the 26-unit building is slated for redevelopment into a boutique beach hotel.
“For the last 50 years, Coral Cay was used as a private timeshare for a group of shareholders from the Midwest,” Hyatt said. “The buyer was attracted to the property’s proximity to Fort Lauderdale Beach and its location in the heart of the fast-growing and trendy North Beach area, which is undergoing massive redevelopment into a contemporary seaside village with upscale condos, hotels, restaurants and retail space.”
Located at 701 and 709 Orton Ave. in Fort Lauderdale, Coral Cay is a two-story, 7,116-square-foot apartment building situated on a 25,000-square-foot lot. The property includes a pool, sun deck and large grass recreation area.
For more information about Berger Commercial Realty’s brokerage services, call 954-358-0900.
About Berger Commercial Realty/CORFAC International
Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently-owned commercial real estate brokerage firms. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information, visit www.bergercommercial.com.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International has 60 North American offices and 20 offices in global markets. Founded in 1989, CORFAC firms completed more than 11,000 lease and sales transactions totaling approximately 500 million square feet of space valued in excess of $8.5 billion in 2015. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.