In this day and age, sellers and buyers of commercial properties are using different methods to complete their real estate transactions. Today, innovative real estate professionals are not relying solely on the MLS, printed flyers, property signs, and weekly “open house” events to sell or buy commercial properties. They are employing non-traditional methods and utilizing resources that were not available decades ago.
LFC, a leading online real estate auction, is helping property owners sell their commercial properties. LFC recently announced they have teamed up with the Carlyle Group and Noble House, LLC to help them sell five (5) commercial units at NuRiver Landing.
According to Shawn Miller, Vice President of LFC, “There has been a lot of interest in these five remaining commercial condominiums, and the auction will motivate buyers to move quickly and aggressively.”
NuRiver Landing is a luxurious live/work community located in downtown Fort Lauderdale. It has more than 400 residential condos; however, the available units at NuRiver are riverfront commercial condominiums. Owners of NuRiver properties enjoy numerous top-of-the-line, upscale amenities, including “a two-story state-of-the-art Fitness Center with indoor racquetball and basketball courts, a full-service business center, full-time concierge, covered garage parking and 24 hour controlled access rooftop swimming pool and meditation room that overlooks the New River.”
LFC will be auctioning off condos that range in size – from 1700 square feet to more than 4000 square feet. Although the bidding is expected to start at $200,000, there’s a strong possibility buyers will obtain a commercial condo for less than half of the original asking price.
In our previous post, Is There an Upside to Florida’s Condo Market?, we discussed the state of Florida’s condo market – the huge supply and inadequate demand, as well as the bargains you can find.
If you’ve considered purchasing a commercial condominium in Ft. Lauderdale, Florida, through an online auction or otherwise, you may want to enlist the services of an experienced commercial real estate attorney to help you navigate the entire online auction process.
The property acquisition attorneys of Schecter Law represent buyers, sellers, and developers of commercial property. We can help you acquire office space, hotels, buildings, warehouses, retail properties, shopping centers or raw land. Contact us today to discuss your commercial real estate needs.
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