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The Real Deal Miami

Newly completed apartment project in downtown Dania Beach hits the market

Brokers say they expect the 144-unit rental building to fetch upwards of $40M
By Amanda Rabines | May 03, 2018 05:37PM

The Place at Dania Beach and Cushman & Wakefield’s Robert Given (Credit: Cushman & Wakefield)

A newly completed apartment project in downtown Dania Beach just hit the market.

Developer AHS Residential is listing The Place at Dania Beach unpriced, but a spokesperson for brokerage Cushman & Wakefield said the brokers are expecting it will fetch upwards of $40 million.

The 144-unit rental building at 180 East Dania Beach Boulevard was completed last year and has 6,770 square feet of ground-floor retail. The project features a rooftop pool and amenity deck as well as attached parking.

Cushman & Wakefield’s Robert Given, Troy Ballard, Zachary Sackley and James Quinn have the listing.

Apartments at the seven-story development average 890 square feet, with rents averaging about $1,784 per unit. The project is fully leased and is located just east of Federal Highway on Dania Beach Boulevard, near the recently completed Casino at Dania Beach.

Dania Beach has attracted companies like online pet supply retailer Chewy.com, which has its headquarters in the city’s Design Center of the Americas (DCOTA).

In December, a nearby apartment complex sold for about $90.3 million. The 336-unit property, which was completed by Ram Realty Services and Pinnacle Housing Group in 2016, sold for about $269,000 per apartment.

AHS is also in the midst of completing Deering Groves, a 280-unit rental community in south Miami-Dade. Other projects include a 175-unit apartment building near the Jackson South Community Hospital, and the Village at Crystal Lake, a 125-unit rental community in Deerfield.