LeFrak beefs up portfolio with $180M riverfront tower in Fort Lauderdale

The Pérez family’s Related Group sold an apartment tower on downtown Fort Lauderdale’s riverfront for $180 million, as deal flow persists despite a stubborn oversupply of apartments in South Florida. New York-based LeFrak Organization bought the 36-story, 337-unit Harbour at New River Apartments at 401 Southwest First Avenue from Coconut Grove-based Related Group and New York-based Rabina Properties, according to records and real estate database Vizzda. The buyer financed the deal with a $100 million loan from Northwestern Mutual, with a 2036 maturity date.  The purchase breaks down to about $534,000 per apartment.  Completed in 2024 on a 1.4-acre site, […]This article originally appeared on The Real Deal. Click here to read the full story.