Related ISG takes over sales of Urbn Village townhouses from Coldwell Banker

RelatedISG's Scott Lehr, Daniel Ares and Liz Lopez with a rendering of Urbn Village 

RelatedISG’s Scott Lehr, Daniel Ares and Liz Lopez with a rendering of Urbn Village

ISG World and RelatedISG International Realty are taking over remaining sales of an Oakland Park townhome development, Urbn Village.

RelatedISG’s Liz Lopez, Scott Lehr and Daniel Ares will be leading sales of the project at 3351 North Andrews Avenue, according to a press release.

Coldwell Banker previously handled sales and marketing. Urbn Village has 11 remaining units available for sale in the 30-townhome development. Nine townhomes are expected to be completed by July 2021.

The developer is Ramy Boorom. Architect Gustavo J. Carbonell designed the project. It launched sales in 2016.

Units range from one bedroom to three bedrooms, priced from the low $200,000s. With names inspired by New York condos, the four available floorplans options are East Side, Tribeca, Lennox and Uptown.

“South Florida is a hot market right now for buyers from all over the U.S.,” Lopez said in a statement. “Inventory for single-family homes has reached an all time low, making townhomes a hot commodity.”

The 10-building development also features commercial retail space, according to the release.

In November, Berkshire Hathaway HomeServices EWM Realty took over sales of a Coral Gables project, and in October, Douglas Elliman was hired to replace OneWorld Properties for the sales and marketing of a luxury mixed-use condo tower in downtown Fort Lauderdale.

Related offers two-year leaseback option at W Fort Lauderdale

Stephen Ross, Craig Studnicky and the W Fort Lauderdale
RelatedISG is now offering buyers a two-year leaseback option for units at the W Residences Fort Lauderdale.
The program is aimed at attracting buyers to the waterfront Fort Lauderdale Beach condo-hotel. The developer, Related Companies, paid $90 million for the project from the Y Group in 2009 after it was completed. The Y Group had sold 24 of 171 units at the time. Since then, Related sold 65 units, according to RelatedISG principal Craig Studnicky. That brings sales up to 50 percent.
Studnicky hopes the program will give buyers confidence in the development. “Psychologically, it takes the nervousness away from the buyer,” he said. “It gives the buyers and real estate brokers in South Florida tremendous confidence in the market. From a PR standpoint, it’s perfect.”
Under the leaseback program, buyers would receive 8 percent of the net purchase price on some two-bedroom, oceanfront units for two years. Prices range from $900,000 to more than $1 million, which means buyers would receive at least $72,000 annually for two years. After Related signs leaseback agreements with buyers, it then turns the units over to Starwood Hotels & Resorts to manage.
In the past, RelatedISG has offered to credit the project’s buyers’ condo fees, which average $1,400 a month or nearly $17,000 a year, but Studnicky said the new program “trumps everything.” Last year, the brokerage announced it was offering 6 percent referral fees to agents from New York in a push to attract buyers from the Big Apple.
Sales are led by Rebecca Batterman, who has four agents working on the project.
Related is also wrapping up a $60 million renovation of the project, led by Meyer Davis Studio.
Last year, the Related Group and Dezer Development announced a similar leaseback program to buyers at Hyde Midtown, which is now nearly 90 percent sold.

Source: The Real Deal Miami