🏆 Commercial: The top commercial real estate deal to hit records was in Boca Raton, where a warehouse at 1095 Northwest Broken Sound Parkway sold for $12.7 million. The seller was an LLC tied to Allen Chelminsky, and the buyer was 1095 Broken Sound LP. The property spans about 54,000 square feet and was last sold in 2023 for $10.8 million.
🏆 Residential: Manalapan had the priciest home sale, where Frank and Dolores Mennella dropped $51.7 million on a 1.5-acre ocean-to-lake estate at 1460 South Ocean Boulevard. The seller was developer Vivian Dimond. The property last traded in 2024, and the recent sale breaks down to $34.5 million per acre and $2,624 per square foot. Serhant’s Gary Pohrer and Douglas Elliman’s Christopher Leavitt represented Dimond, and Philip Lyle Smith with Luxury Resort Portfolio represented the Mennellas.
📊 Commercial: An apartment complex at 2100 Miami Road in Fort Lauderdale changed hands for $9 million. The seller was an LLC tied to Eyal E. Halali, Idan Gotlib and Michal Peled Gotlib. The buyer was Oregon Property Corp. The complex, known as Ocean Wave Apartments, spans about 31,000 square feet and has 12 units.
By the Numbers: CMBS delinquency rates climb in March
The delinquency rate for commercial mortgage-backed securities climbed higher in March, led by the lodging and office sectors.
The share of CMBS loans that have been more than 30 days delinquent rose by 41 basis points to 7.55 percent in March from February, and 90 basis points year over year, according to a report by research firm Trepp. The period reverses February’s month-over-month decline.
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