Kushner goes to Broward, buying site near Fort Lauderdale train station

Swire is selling the assemblage to Kushner, which plans to build a mixed-use project

TRD MIAMI /
Oct.October 02, 2019 04:30 PM
Charlie Kushner and Laurent Morali over Fort Lauderdale site (Credit: Google Maps)

Charlie Kushner and Laurent Morali over Fort Lauderdale site (Credit: Google Maps)

UPDATED, Oct. 3, 11:13 p.m.: Kushner Companies is making its first big real estate play in Fort Lauderdale.

The company, led by Charles Kushner, Nicole Kushner Meyer and Laurent Morali, is under contract to purchase three properties for $49 million across the street from the Virgin Trains station in downtown Fort Lauderdale’s Himmarshee District, sources told The Real Deal.

Swire Properties of Hong Kong and its partner Lionheart Capital are selling the lots at 200, 300 and 520 West Broward Boulevard. The land totals 4.2 acres and Kushner is planning a mixed-use project on the site.

New York-based Kushner could not be reached for comment.

Development has ramped up near Virgin Trains’ stations in Miami, Fort Lauderdale and West Palm Beach. Virgin Trains is also considering adding more stops throughout South Florida, including one in Aventura.

Kushner’s Fort Lauderdale site borders an Opportunity Zone, but is just outside of it. The firm is paying about $270 per square foot for the assemblage.

Records show that Swire affiliate FTL/AD General acquired the land between 2006 and 2007. In Miami, Swire is working on the second phase of Brickell City Centre. It’s also planning a residential project on a site immediately north and west of Brickell City Centre with Colombian businessman Carlos Mattos.

Kushner recently expanded to South Florida, acquiring two sites in Miami.

The company is under contract to purchase the property at 2000 Biscayne Boulevard in Miami’s Edgewater neighborhood, where it’s planning to develop the site into a 1,100-unit apartment project with a local as-yet-undisclosed partner. That assemblage is in an Opportunity Zone.

The second project for Kushner is in Wynwood, where it’s partnering with Block Capital Group on two mixed-use developments on Northwest 26th and 27th streets. Kushner and Block Capital paid $32 million for the assemblage, which they’ll develop into 152 rental apartments, 50,000 square feet of office space, 34,000 square feet of retail space and parking.


Related Articles

arrow_forward_ios
Daily Digest Miami

Construction worker killed in Hallandale electrocution, developer under contract for site near Fort Lauderdale Brightline

Rendering of Bodega Taqueria y Tequila, Keith Menin and Jared Galbut

Menin Hospitality’s Bodega is expanding to Fort Lauderdale

Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Daily Digest Miami

Carl DeSantis buys Delray office building, Faena lists Miami Beach home: Daily digest

The Fort Lauderdale home and Kenny Stills (Credit: ONE Sotheby’s International Realty and Getty Images)

Ex-Miami Dolphin Kenny Stills is selling his Fort Lauderdale home

JP Morgan's announces $5M investment in affordable housing in South Florida at the Black Archives Historic Lyric Theater in Overtown on Wednesday

JPMorgan to invest $5M to build 150 new affordable rentals in South Florida

Kushner Companies' Charles Kushner and Laurent Morali

Inside Kushner Companies’ $1B expansion into South Florida

WATCH: The next wave of South Florida development

WATCH: The next wave of South Florida development

arrow_forward_ios