The Real Deal Miami

Grupo Alco buys Fort Lauderdale site, plans luxury condominium project

Grupo Alco has paid $1.8 million for a vacant 0.64-acre parcel in Fort Lauderdale, planning to build luxury waterfront condominiums on the site. The property was sold by the Community Foundation of Broward, represented by Berger Commercial Realty’s Steve Hyatt. Grupo Alco was represented by Greg Jaxtheimer in the transaction. The property, which is located at 1100-1200 Seminole Drive, was originally an estate gift to the foundation from philanthropists Jack and Harriet Kaye. — Alexander Britell