New York-based LeFrak Organization has dropped $180 million on Harbour at New River, a 36-story, 337-unit apartment tower on the downtown Fort Lauderdale riverfront. The purchase plants a high-end flag at 401 Southwest First Avenue in LeFrak’s growing South Florida portfolio.
Deal Details and Financing
The Pérez family’s Related Group and Rabina Properties sold the building to LeFrak for about $534,000 per unit, and the buyer financed the acquisition with a $100 million loan from Northwestern Mutual that matures in 2036, according to The Real Deal. The roughly 1.4-acre property was completed in 2024 and includes a mix of studios and one- to three-bedroom apartments, the outlet reports.
Rents, Incentives and Leasing
Asking rents for available units are being advertised between roughly $3,000 and $6,000 a month, and the property is pitching concessions, including about one month free, to pull in tenants, according to the building’s leasing materials and local listings. Harbour at New River lists current move…..