The .09-acre (39,204 sf) site is under contract for $8.2 million or $209.16 per sf from William Morris of Southcoast Partners.

The plans allow for the development to be connected to the original 42-story condominium tower. This second phase will be called 100 East Las Olas. The property will feature restaurants, boutiques and 12 three-story townhomes with private elevators.

"I think the most significant thing about this project is that this is in the central business district, it's totally upscale living and it's doing really well," Richard D. Zipes tells Globest.com. "This will be sophisticated, self-contained New York City-style living."

The townhomes at 100 East Las Olas will have 2,900 sf, a two-car garage, and outdoor terraces. Prices start at $1.5 million.

The 280-unit, $137 million Las Olas River House, under construction since November, combines two 42-story structures and one 34-story structure. It is on Las Olas Boulevard between First and Second avenues.

Las Olas River House town homes range in size from 1,260 sf to 7,000 sf. Prices range from the $400,000 to $1.8 million. Penthouse units are in the $3 million range. The company has sold 150 or the 280 units so far.

The Sieger Suarez Architectural Partnership was the architect. Interiors by Stephen G, did the interior design. Both did the same work on Las Olas River House.

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Developers Pay $209 per SF for Las Olas Condo Expansion Site

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