Pennsylvania developer buys Oakland Park landmark building

Local developer Amos Chess kept one-third interest

TRD MIAMI /
Aug.August 30, 2017 10:30 AM

3101 North Federal Highway

UPDATED, 5:38 p.m., Feb. 7: Two Oakland Park buildings just sold for $16.3 million, property records show.

BrickBox Oakland Park LLC, led by Dan Deitchman, bought a two-thirds interest in the cylindrical 74,442-square-foot building at 3101 North Federal Highway, which once housed the Chateau Madrid nightclub and restaurant. Chateau Madrid featured artists like Louis Armstrong.

Deitchman owns BrickBox Development, a Pennsylvania-based real estate firm that renovates historic and distressed properties. Records show BrickBox assumed the seller’s nearly $7 million mortgage from Bank Leumi.

Deitchman also bought a two-thirds interest in the adjacent 27,300-square-foot building anchored by Chase Bank, at 3201 North Federal Highway.

The seller is Round Corner LLC, which is led by investor Amos Chess. The company paid $10.4 million for the Kenann Building in 2013 and $4.1 million for the adjacent building in 2014. Earlier this year, Deitchman and Chess filed plans to redevelop two former strip clubs in Oakland Park after the city won a 30-year legal fight to close the clubs.

The mixed-use office building’s design was reportedly inspired by the futuristic cartoon, The Jetsons. It was built in 1968 by developer Kenneth G. Burnstein and sits on about 2.5 acres, including surface parking.

The building, which is now anchored by Citibank, has been home to other restaurants and clubs like The Rooftop and Hot Chocolate.

Deitchman bought the property at a time when the office market in South Florida is stabilizing. Office vacancy rates are falling and asking rents inching up, according to Colliers International South Florida’s second quarter reports.

Correction: A previous version of the story incorrectly stated the buyer bought full-interest in the Kenann Building and left out the sale of the adjacent office building. 


Related Articles

arrow_forward_ios
Charles Cohen and a rendering of the project (Getty, Pelli Clarke Pelli Architects)

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm
4700 North Congress Avenue and Velocis Managing Partner Fred Hamm (Google Maps)

Private equity firm sells West Palm medical offices at discount

Private equity firm sells West Palm medical offices at discount
Swire president Kieran Bowers and Brickell City Centre (Google Maps)

Swire sells Brickell City Centre office buildings for $163M

Swire sells Brickell City Centre office buildings for $163M
As resi brokers in South Florida report an uptick in sales and rentals largely fueled by homeowners fleeing dense markets like New York, office brokers say they’re starting to see a similar trend play out among tech firms. (iStock)

More tech firms eye Miami as Covid carries on

More tech firms eye Miami as Covid carries on
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Anabella Smith, Louis Archambault, Scott Goldstein

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...