W Fort Lauderdale Hotel & Residences hits the market with CBRE

Just three years after completion, the  $430 million condominium-hotel, W Fort Lauderdale Hotel & Residences, is on the market, according to the Sun Sentinel. CBRE is selling the 346 hotel rooms and 171 condo-hotels separately or as a package. The asking price is yet to be reported. 

MMD Realty started marketing the condos-hotels last December for  $500,000 to more than $1 million but so far on 23 have sold. But as of this week MMD is no longer marketing the units, according to  MMD founder Michelle Farber Ross.

“This is the time to double down,” Peter Zalewski, a principal at Condo Vultures, said. “Condo-hotels are the exception to the overall improving South Florida condo market.” [Sun Sentinel] — Christopher Cameron