Monday, March 25, 2013

Fort Lauderdale Beach Condo Tower Site To Be Sold To Baltimore Developer



Orion Condos rendering
Fort Lauderdale Beach, FL
MIAMI, FL -- With more than 120 new condo towers proposed for coastal South Florida since the real estate crash of 2007, the developer of the proposed 170-unit Orion project planned for Fort Lauderdale Beach has identified a buyer to purchase the project's site with entitlements, according to a new report from CondoVultures.com.

The prospective buyer - Mah Cignal Holdings based in the Baltimore area - won the right to purchase the nearly two-acre site on Fort Lauderdale Beach Boulevard with a winning bid of $22.5 million in a U.S. Bankruptcy Court-ordered auction, according to the South Florida Business Journal.

Silvia Coltrane
The transaction is reportedly scheduled to be completed in March 2013 although no deed transfer has been recorded as of March 24, 2013, according to Broward County Clerk of the Court records.

Silvia Coltrane's Transacta Prive Developers - which in March 2012 obtained approval to build the planned 18-story Orion condo tower on a former Howard Johnson hotel property in Fort Lauderdale Beach - formally put the development site on the market in December 2012 for an undisclosed price, according to the South Florida SunSentinel.

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC
225 Midtown Building
225 NE 34th St., Suite 209B,
 Downtown Miami, Florida, 33137.
800-750-0517.

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