A parcel of land in downtown Fort Lauderdale recently sold for $17.25 million to a West Palm Beach developer. The lot presently used as a parking lot is located at 100 E Las Olas and measures 0.87 acres and neighbors the 42-story Las Olas River House condo and nearby downtown Fort Lauderdale condos such as WaterGarden, Las Olas Grand, 350 Las Olas Place and Symphony.
The developer, Kolter is in the beginning phase of proposing a high rise condo tower and hotel with restaurants and retail shops. Each building would be separate.
According to tax rolls, the land previously sold in 2007 for $14,925 million. Situated in a highly desirable and sought after area, the land has well appreciated over time since it's original sale in 1998 for $7million.