A vacant parcel fronting West Avenue in South Beach just traded hands for $4.75 million, with plans for a new boutique condo project. Casaluna LLC, led by Boston-based developers Abner Kurtin and Jonathan Seelig, sold the property at 1312 and 1320 14th Terrace to 1414 West Avenue LLC. The buying entity is linked to Spencer Blank of Boca Raton-based Redcliff Builders and investors Axel Knauf and Bernard Petit of Belgium. The price equates to $297 per square foot of land.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $4,750,000.00
• Buyer: 1414 West Avenue LLC
• Seller: Casaluna LLC
• Buyer's Representative: Yanarys Fundora (Pulse International Realty)
• Seller's Representative: Rena Kliot (Pulse International Realty)

Rena Kliot, owner of Pulse International Realty, represented the seller, and Yanarys Fundora, of the same firm, represented the buyer in this transaction. Kliot facilitated the original purchase of the land by Kurtin and Seelig in 2015 for $4.1 million. The new owners, along with Redcliff Builders and investors from Belgium, plan to build a 14-unit modern condo building with various unit sizes ranging from one-bedroom to three-bedroom layouts. The buyer's representatives are already involved in handling the sales of the upcoming condo units.