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| Jeff Greene |
MIAMI, FL -- A bulk
buyer has paid $195 per square foot - representing a 38 percent discount off of
the average sales price to date - for the remaining 150 new residential condo
units in the City Palms condo project in Downtown West Palm Beach, according to
a new report from CondoVultures.com.
Billionaire Jeff
Greene, who capitalized on the housing crash with credit default swaps and
then unsuccessfully ran in 2010 for one of Florida’s two U.S. Senate seats, led
the bulk group - comprised of four Florida corporations - that paid a combined
$34 million for more than 148,000 square feet of salable residential space and
nearly 26,300 square feet of commercial space in the 10-story City Palms project
on Hibiscus Street in Downtown West Palm Beach, according to the Palm Beach
Post.
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| City Palms, West Palm Beach, FL |
Prior to the Nov. 5,
2012 bulk deal, the original developer had sold 138 residential units - about
48 percent of the 288-unit project - for nearly $39.2 million for an average of
more than $310 per square foot since the first transaction was recorded in
October 2008, according to an analysis of Palm Beach County Property Appraiser
records.
For a complete copy
of the company’s news release, please contact:
Condo Vultures® LLC
is a real estate consultancy and marketing company based in the 225 Midtown
Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo
Vultures® LLC can be reached at 800-750-0517.
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