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Deerfield Beach news!!

Cashflow In Miami
June 12, 2021

221, 231 and 299 N. Federal Highway, Deerfield Beach, FL

The vacant property at 221, 231 and 299 N. Federal Highway was acquired in 2017 for $3.9 million by CRD Federal LLC, an affiliate of Chicago-based Centrum Partners. The property at 201 N. Federal Highway, which has a 28,683-square-foot office building constructed in 1962, is under contract from OER Property Co. The office building would be demolished.
Centrum Partners wants to build a mid-rise apartment complex along Federal Highway in Deerfield Beach.

By changing the land use from “commercial” and “residential moderate” to “residential irregular”, that would allow the developer to move forward with plans for 277 apartments in a five-story building.

The preliminary site plan by MSA Architects shows a parking garage in the middle of the apartment complex, with an interior pool court on one side of the garage and a garden courtyard on the other side.

The application states the developer would pay $138,500 into the city’s affordable housing fund and fund roadway improves along Northeast Second Street, from Federal Highway to Northeast Sixth Avenue.

At the same time theres some movement happening on the oceanfront side of town!

JB’s on the Beach oceanfront restaurant site in Deerfield Beach sold for $11 million, more than a year after it hit the market for $18 million.

The buyer is Sandcastle 1, led by Miami-based real estate investor Ronny Finvarb, with Ark Restaurants as minority member. Ark already owns and runs the restaurant business. Sandcastle 1 bought the 1.5-acre property from Boyle Beach House, led by John Boyle, according to a news release.

JB’s on the Beach includes a 9,777-square-foot building at 300 Northeast 21st Avenue and a nearly one-acre parking lot across North Ocean Drive.

Boyle Beach House bought the restaurant building in October 2001 for $3 million, and three years later paid $3.4 million for the parking lot across the street, deeds show.


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