Updated May 15, 2026
SOLDDevelopment Site
Stephen Ross Of Related Ross Acquires 2.6 Acre Development Site In West Palm Beach For $55M
Quadrille Boulevard
$55,000,000
Units
130
Asset Type
Development Site
Closing
May 14, 2026
About this deal
AI
A development site located at Dixie Highway, South Quadrille Boulevard, Fern Street & Gardenia Street in West Palm Beach, FL has been sold for $55,000,000. The site spans 2.6 acres and is intended for the construction of a condo tower consisting of 100 to 130 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,000,000
- Asset Size: 2.6 acres
- Buyer: Stephen Ross - Related Ross
- Seller: Arnaud Karsenti - 13th Floor Investments
- Seller: Joseph M. Jacobs - Wexford Real Estate Investors
- Seller: David Levinson - L&L Holding Company
On the Map
$55,000,000
Development Site
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Players
Boulevard Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93