Fort Lauderdale sees largest bulk purchase, of 64 units at Las Olas by the River

The McKafka Group purchased 64 units at Las Olas by the River earlier
this month for $10.2 million, a deal that is purported to be the
largest bulk condo deal in Fort Lauderdale, according to Peter Zalewski
at Condo Vultures Realty. Fernando Levy-Hara, managing partner at
McKafka, said the purchase was completed July 2 in a deal with California-based
developer Montecito Property. There are 240 units in the
property, which was built in 2005 along the New River. Of the 64 units,
there are 62 two- and three-bedroom units. The deal represents an average
price of $164,516 per unit, or about $130 per square foot. [Sun
Sentinel]