Altman Management Co. Tapped to Manage South Florida Apartments

New River Yacht Club. Image courtesy of Altman Management Co

Altman Management Co. has been tapped to manage a luxury waterfront community in Fort Lauderdale, Fla. The company, which is the management division of The Altman Cos., will replace TRG Management as property manager of New River Yacht Club, according to Yardi Matrix data.

Kristi Novak, area vice-president for Altman Management Co., told Multi-Housing News that the 249-unit community is currently 95 percent occupied. The 26-story New River Yacht Club offers studio, one-, two- and three-bed units that range in size from 791 to 1,595 square feet. The units were built with kitchen islands and walk-in closets, and the community offers a pool, outdoor bar, communal dining area, fireplace, game room, fitness center and resident lounges.

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Located at 400 SW First Ave., New River Yacht Club is within walking distance to downtown Fort Lauderdale’s restaurants, retail and bars. The community is also located a few miles away from the area’s beaches, Las Olas and Fort Lauderdale Beach.

Novak also told MHN that the Altman management strategy will include offering services in the building and providing an exceptional living experience. The company also manages five other communities in South Florida including Altis Miramar, Altra Miramar, Saba Pompano Beach, Altis Little Havana and Altis Kendall Square, Novak told MHN.

Following Phases Underway

Altman’s latest management assignment, New River Yacht Club, was built in 2014, according to Yardi Matrix data, and is part of a three-phase project that a joint venture between The Related Group and Rabina Properties is working on.

New River Yacht Club was the first of three properties of the project, with a 349-unit community as the second phase and a 230-unit community as the third phase. The joint venture began construction on the second phase community in March 2020, while the final phase, New River Yacht Club III, is scheduled to complete this year after having received $47.9 million in construction financing in December 2019.