Ascend Properties has broken ground on the 179-unit METROPOLITAN in Wilton Manors, a property with some back story: Located at 1224 NE 24TH ST, the development site until recently was home to a mobile home park damaged by Hurricane Katrina, but not before it served as the setting for _Striptease_, with DEMI MOORE and BURT REYNOLDS. “The current real estate cycle is characterized by STRONG COMPETITION FOR SITES in desirable neighborhoods like Wilton Manors,” says Ascend principal RICHARD FINKELSTEIN (center, flanked by principals DEAN BORG and MICHAEL WOHL). The partners were able to obtain the site in an OFF-MARKET DEAL from the family that had owned it for generations, working with Wilton Manors officials on development plans to elevate the property’s appeal and value.
Recently formed Ascend Properties broke ground earlier this week on its second residential project the – Metropolitan – a 179-unit rental apartment development here. The Boca Raton-based firm headed by real estate veterans Dean Borg, Richard Finkelstein and Michael Wohl, began sonctruction earlier this summer on Pointe 100, a planned 100 new single-family home development. Ascend states that the two new luxury in-fill projects are valued at $100 million.