Ask the Expert: Is the multifamily market in Fort Lauderdale being overbuilt?
Dec 02, 2019
Ask the Expert: Is the multifamily rental market in Fort Lauderdale being overbuilt?
“No, because there continues to be a high demand for that type of product. The newer multifamily product being built is fully amenitized with features that really separate them from the private clients we deal with. In fact, the new construction and amenities provide an opportunity for the owners of neighboring Class B and C assets to implement a value-add program and push rents based on interior and exterior upgrades. Our clients can often bring in quality tenants from the larger Class A buildings by offering them a safe apartment with beautiful finishes in the same neighborhood, but for $200 to $400 less in monthly rent!”
Senior Associate, Multifamily Investment Sales