Naftali Group continues expansion in South Florida with second acquisition

Fort Lauderdale, FL New York-based developer, Naftali Group, a privately held global real estate development and investment firm, has closed on a 700,000 s/f development site at 201 North Federal Hwy. Located in the submarket of Flagler Village, Naftali purchased the site for $20 million. Situated on the corner of North Federal Hwy. and Northeast 2nd St., the property is only a half-mile from Las Olas Blvd. and the New River.

“We’re pleased to continue expanding our presence in South Florida’s luxury residential market with 201 North Federal Hwy.,” said Miki Naftali, CEO and chairman of Naftali Group. “The property’s desirable location, nestled between Flagler Village to the North and West – an area known for its young population, art scene, and nightlife options – and Downtown Fort Lauderdale and Las Olas to the South, presents a prime opportunity to develop in an eclectic and burgeoning neighborhood of Fort Lauderdale.”

Downtown Fort Lauderdale, Tarpon River, Las Olas Isles and Victoria Park, can be reached within a five to ten-minute drive of 201 North Federal Hwy. Positioned within the submarket, the property’s central location on the corner of North Federal Hwy. and Northeast 2nd St. is appealing for a variety of demographics and renter profiles who are seeking a live-work-play environment. 201 North Federal Hwy. offers excellent visibility and will benefit from street-level retail as well as sweeping southernly and protected eastern views to the ocean.