Amaray Las Olas on Market for Sale
Posted on 1/5/2017Stiles announced today that it has named Cushman & Wakefield exclusive advisor in the disposition of Amaray Las Olas, a new luxury residential tower in Downtown Fort Lauderdale. [http://amaraylasolas.com/]
Cushman & Wakefield's South Florida Institutional Multifamily Team of Vice Chairman Robert Given, Executive Managing Director Zachary Sackley, Senior Managing Director Troy Ballard and Director Neal Victor has been chosen to market the tower for a joint venture of the New York-based Rockefeller Group and the Fort Lauderdale-based Stiles Corporation. The asset will go to market unpriced.
Amaray Las Olas is a 30-story, 254-unit multifamily tower developed on a 1.25-acre site at 215 SE 8th Street. The average unit in the 285,329-square-foot building is 1,123 square feet with a market rent of $3,488, or $3.11 per square foot. The first residents took occupancy in April and the building is currently 96 percent leased.
Units at Amaray Las Olas feature top-of-market interior finishes including light and dark color options with granite countertops; plank-style ceramic tile flooring; European solid-wood cabinets; and Whirlpool stainless steel appliances. The Estate and Penthouse Collections, which comprise the top six floors, feature upgraded units with premium KitchenAid appliances; wine and beverage consoles; quartz counters; upgraded showers and fixtures; and five-inch plank hard wood flooring. Ceiling heights throughout the building vary from nine to 12 feet.
Amaray Las Olas offers a luxury amenity package including a resort-style rooftop pool deck with a hot tub and private cabanas; an entertaining pavilion with gas grills; an expansive gym area with on-demand classes; saunas and massage treatment rooms; a clubroom with catering kitchen; business center; a dog run and a dog wash. Residents have access to a total of 327 on-site parking spaces with options including reserved parking, tandem spaces and large individual private garages.
Amaray Las Olas' location in the heart of Downtown Fort Lauderdale provides residents with a live-work-play experience. The tower offers immediate access to Las Olas Boulevard, home to some of South Florida's most prestigious employers, restaurants, retailers and cultural amenities. The building offers convenient access to Interstate 95, Fort Lauderdale-Hollywood International Airport and the Atlantic beaches.
"Amaray Las Olas represents the first urban high-rise to come to market in South Florida in over a decade," said Given. "Downtown Fort Lauderdale is on the cusp of a renaissance with development occurring in all asset classes and Amaray Las Olas represents the finest apartment delivery to date."
"A critical mass of residential, hotel, office, retail and infrastructure projects have brought life to the downtown Fort Lauderdale neighborhoods," added Given. "With the growth of Flagler Village, South of the River, and the Las Olas/CBD neighborhoods, the city is transforming into a vibrant and diverse 18-hour city."
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.