The Real Deal Miami

Sale of former Trump condo-hotel closes

Group planning Conrad project pays $115M for Ft. Lauderdale property
Rendering of Conrad Hotel at 551 North Fort Lauderdale Beach Boulevard

Rendering of Conrad Hotel at 551 North Fort Lauderdale Beach Boulevard

The $115 million sale of a vacant beachfront Fort Lauderdale hotel that was to be called Trump International has closed.

CFLB Partnership, a group that owns the Hilton Fort Lauderdale Beach Resort, completed the purchase of the 551 North Fort Lauderdale Beach Boulevard property last week, the Sun-Sentinel reported. It plans to open the Conrad Fort Lauderdale Beach Residences there.

Sales of the Conrad’s 296 units are expected to launch soon. The units will be priced between $450,000 to more than $1 million. Buyers can close on unit purchases in 2014, but the Conrad won’t be completely operational until the following year.

Donald Trump pulled his name from the 24-story tower after a series of lawsuits and a bankruptcy filing. The Trump International Hotel and Tower was supposed to open four years ago. [Sun-Sentinel]Eric Kalis