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Flagler Village FATcity site sells for $23.12 million

An affiliate of Aventura’s BH3, a real estate investment and development firm, has paid $23.12 million for the  2.8-acre FATCity development site at 300 N. Andrews Avenue in downtown Fort Lauderdale.

The seller, an entity controlled by New York-based holdings group Traina Companies, will continue as co-developer.

While the Flagler Village area has no shortage of development projects, FATCity would arguably be the pinnacle if it follows previous entitlements. The FAT part of the name is an acronym for Florida Arts and Technology, which reflects existing development efforts.

Another view of the FATCity concept

The site is entitled for approximately 1.35 million square feet of transit-oriented, mixed-use development that could include 612 residential units, 85,000 square feet of retail space, 270,000 square feet of commercial space such as office and hospitality, and more than 1,300 parking spaces, a press release says. The site fronts an entire city block along the east side of North Andrews Avenue from Northeast Third Street to Northeast Fourth Street. It is two blocks east of the Brightline high-speed rail station.

The Traina Companies, led by father-and-son principals Joseph Traina, Sr. and Joseph Traina, Jr., assembled the multiple parcels and obtained city approvals in 2017.

“As a Fort Lauderdale resident, born and raised and now raising my family in this city, we are grateful for the exciting opportunity to play a key role in the continued transformation of Fort Lauderdale along with the current and future path of growth in the surrounding neighborhoods,” said Gregory Freedman, principal of BH3.

Freedman and Daniel Lebensohn, also principal of BH3, lead the firm which owns other properties in Fort Lauderdale’s Flagler Village and Progresso Village. Additionally, BH3 has owned and/or developed notable properties throughout South Florida, such as famed Privé at Island Estates, which was the subject of an SFBW Great Places and Spaces, Trump Hollywood, 1805 Ponce, and Terra Beachside.

BH3 on Jan. 29 also won the right from the Delray Beach Community Redevelopment Agency to develop a 7.4-acre, $100 million mixed-use project in the 600 to 800 block of West Atlantic Avenue in Delray Beach.

 

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.