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S. Florida Apartments to Convert to Condos
A recently completed Dania Beach apartment complex is on the market, to be sold as condos. S2 Development purchased the Atlantica apartments for $36.75 million. Prestige Cos. sold the ground lease for the 124-unit rental community at 610 N.E. Second Street. The S. Florida Business Journal reports CRE Lendco arranged a loan for the buyer in the amount of $30 million. The price equated to nearly $300,000 a unit.
The apartment complex is on a 4.7-acre land lease with Dania Beach-based East Side Five LLC. It’s located just east of the Casino at Dania Beach Jai-Alai.
Prestige Cos. broke ground on Atlantica in early 2023. It features six apartment buildings of three stories each, plus a clubhouse with a gym and pool, along with 237 parking spaces.
The floor plans range from 703 square feet with one bedroom to 1,159 square feet with two bedrooms plus a den.
- ◦Sale/Acquisition
- ◦Financing
