NYC Firm Buys 10-Lot Development Site

FORT LAUDERDALE, FL-New York City-based Rockefeller Group Development Corp. has acquired the 10-lot, 1.25-acre French Quarter restaurant parcel just off Las Olas Boulevard for $13 million. The site is one of the last remaining development sites in the Las Olas area south of Broward Boulevard.

Miami-based Transwestern vice president Darryl Robinson and senior vice president Peter Harrison represented Rockefeller Group in the transaction. The seller, Louis Flematti, represented himself. Transwestern introduced the opportunity to Rockefeller and arranged the joint venture structure while providing due diligence support.

The site is currently zoned for mixed-use, office, retail and residential hotel. The parcel is one block north of Las Olas Boulevard and stretches from the former restaurant at 215 SE Eighth Ave. west along Southeast Second Court to Sixth Avenue.

“The site provides Rockefeller with an outstanding opportunity and options for development including office, residential or hotel,” Robinson says. “The possibilities are numerous and Rockefeller can take a ‘wait-and-see’ approach as they decide which development avenue they wish to take.”

Harrison tells GlobeSt.com that the restaurant remains on the site, but is closed. Rockefeller Group has not finalized plans for the site. The property was being sold because the restaurant was no longer the best and highest use for the site. “It’s all about location, location, location,” Harrison says. “This is a great development site.”