{"id":258127,"date":"2026-05-04T19:27:08","date_gmt":"2026-05-04T19:27:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/258127\/"},"modified":"2026-05-04T19:27:08","modified_gmt":"2026-05-04T19:27:08","slug":"lefrak-buys-related-groups-new-multifamily-tower-in-fort-lauderdale-for-180m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/258127\/","title":{"rendered":"LeFrak Buys Related Group\u2019s New Multifamily Tower in Fort Lauderdale for $180M \u2013 Commercial Observer"},"content":{"rendered":"

The LeFrak Organization<\/a> has acquired Related Group<\/a>\u2019s new waterfront rental tower in Fort Lauderdale, Fla., for $180 million, property records show.\u00a0<\/p>\n

The 36-story building, called Harbour at New River, houses 337 apartments on a 1.4-acre site at 401 Southwest First Avenue, facing the New River, a block west of South Andrews Avenue. Northwestern Mutual<\/a> Life Insurance Company supplied a $100 million acquisition loan.\u00a0<\/p>\n

SEE ALSO: The Plan: More Student Housing Planned for Fordham\u2019s Bronx Fiefdom<\/a><\/p>\n

As part of the sale, LeFrak Organization agreed not to convert the units into condos until 2033.\u00a0<\/p>\n

Related Group, in partnership with Rabina Properties<\/a>, completed the 936,012-square-foot asset last year. In 2022, the developers secured a $99 million construction loan from Truist Bank, although public records estimate the project cost $75 million to build.\u00a0<\/p>\n

Harbour at New River was part of a three-phase project, which the joint venture has already sold off. BJ Verde Properties purchased<\/a> the 26-story, 349-unit New River Yacht Club, while the 20-story Regatta at New River sold for $115 million in 2021.<\/p>\n

The sale comes less than a year after Related Group sold another luxury rental tower in Fort Lauderdale: the 46-story Veneto Las Olas, which Zara\u2019s billionaire founder Amancio Ortega bought<\/a> for $180 million.\u00a0<\/p>\n

The purchase appears to be LeFrak Organization\u2019s first acquisition in Broward County. The New York-based firm is perhaps best known for the LeFrak City housing complex in Queens, which it developed in the 1960s and still owns.\u00a0<\/p>\n

In Florida, the LeFrak Organization has mostly focused on Miami-Dade County, where it developed the SoL\u00e9 Mia mixed-use master planned community and the Link multifamily towers near the Douglas Road Metrorail station. The third phase remains under construction.<\/p>\n

Representatives for Related Group and the LeFrak Organization did not immediately respond to requests for comment.<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The LeFrak Organization has acquired Related Group\u2019s new waterfront rental tower in Fort Lauderdale, Fla., for $180 million,…\n","protected":false},"author":2,"featured_media":258128,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[111906,8001,2152,249,251,250,111907],"class_list":["post-258127","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-401-southwest-first-avenue","tag-channel","tag-development","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news","tag-harbour-at-new-river"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/258127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=258127"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/258127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/258128"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=258127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=258127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=258127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}