Kislak Begins Conversion of 272-Unit Citation Way

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CORAL SPRINGS, FL-With the conversion of Citation Way now under way, sales have begun at the 272-unit multifamily complex located at 9845 Westview Dr. Miami Lakes-based J. I. Kislak Inc. acquired the 18-acre property for condo conversion in September 2004 for just under $27.8 million or a little more than $102,000 a unit.

Units include one-, two- and three-bedroom layouts ranging from about 900 sf to 1,350 sf. Hollywood-based Kirschner Realty International is handling the sales and marketing and has opened an on-site sales center. Prices range from the mid-$100,000s to the high $200,000s.

Kislak is remodeling the clubhouse, upgrading the landscaping and pool area and adding new fitness equipment in the gym. The property includes a lake, tennis courts and covered parking, offers quick access to University Drive and the Sawgrass Expressway. Because of the size of the units and the quality of local public schools, families are seen as a prime market. Tom Bartelmo, president and CEO of Kislak, says the property “lets buyers live in the middle of an already established community for a reasonable price.”

The Kislak portfolio includes more than 3,000 residential units in Florida, Nevada and Arizona. It recently completed conversion of the 230-unit Colonnades at Plantation.