A Fort Lauderdale nonprofit acquired the Brickell site of the Stanley Axlrod UTD Towers for $14 million, The Real Deal has learned.
The company purchased the 1809 Brickell Avenue senior living facility in a transaction recorded on Wednesday, according to Miami-Dade County records. It assumed a $567,538 mortgage from the Secretary of Housing and Urban Development as part of the deal. The site had been under contract since March 2013.
Stanley Axlrod UTD Towers Inc. of Miami is the seller. Fedrick Ingram signed the deed as president of the nonprofit. Ingram is president of the United Teachers of Dade organization.
The facility is located on a 3.2-acre bayfront parcel.