Jeffrey Soffer sells Hallandale Beach casino parking lot for $31M

Billionaire Jeffrey Soffer offloaded part of his Broward County gambling site, a portion of a parking lot, for $31.1 million. An affiliate of Soffer’s Aventura-based Fontainebleau Development sold 12.2 vacant acres of the Big Easy Casino at 831 North Federal Highway in Hallandale Beach to an affiliate of Kadima Developers, records and real estate database Vizzda show. The price amounts to more than $2.5 million per acre. Aventura-based Kadima, led by co-founders Alejandro Chaberman and Joseph Melul, partially financed the acquisition with a $17.6 million loan from RMWC. Kadima immediately flipped three of the 12 acres for $12 million to […]This article originally appeared on The Real Deal. Click here to read the full story.