FORT LAUDERDALE, FL - Corvin Capital, announced that the real estate investment manager, and developer have made its first southeast development investment in the state of Florida. Corvin together with Bizzi & Partners Development and Silverback Development, acquired the property for $12,000,000 and intend on completing New River Central by late 2020.
Located at 100 SW 6th Street, Fort Lauderdale, FL, 33301, New River Central will be approximately 625,000 square feet, and will have luxury amenities - such as, pools, spa, gyms, and lounges. The high-rise will be located in the desirable, high-growth market of Fort Lauderdale.
The property when completed will stand at 35-stories with 401 rental units, 5,500 SF of retail space, 20,000 SF of amenities and a nine-story parking structure with 477 spaces.
"This acquisition directly aligns with our investment parameters," said Mark Neuman, CEO of Corvin. "The property is exceptionally well-located and offers a significant development opportunity. We intend to build a luxury building, that is still affordable and in line with the strong demand for this type of product in Fort Lauderdale."
Josh Aryeh the COO of Corvin was quoted as saying, “New River Central’s incredible location is unique. The property is located in one of Fort Lauderdale’s most popular business centers, and is buoyed by a diverse economy, a strong presence of mature companies and is one of Florida’s most active ports. We at Corvin look forward to building a beautiful building for the community.”
Corvin Capital is an investment platform specializing in value-add opportunistic real estate strategies, with a specific focus on development and income producing assets. In addition, the firm provides a full range of advisory services including due diligence, project financing, loan syndications, and strategic advisory.