Wexford Real Estate Investors and Key International have purchased a development site in Boca Raton for $25.5 million. The property, located at 14, 33, 41 Southeast Fourth Street & 36 Southeast Third Street, spans 2.1 acres. The buyers plan to develop luxury apartments in downtown Boca Raton, featuring a 12-story complex with 190 units, amenities, and ample parking spaces.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $25,500,000
• Market: Boca Raton
• Address: 14, 33, 41 Southeast Fourth Street & 36 Southeast Third Street
• Buyer: Wexford Real Estate Investors - Philip Braunstein; Key International - Inigo Ardid
• Seller: DMBK LLC, DMBK III, 33 SE 4th Street Associates & Compson Associates

Philip Braunstein of Wexford Real Estate Investors and Inigo Ardid of Key International were the key individuals involved in the transaction. They facilitated the purchase of the development site in Boca Raton, with the intention of transforming it into a high-end residential complex. The deal signifies the strong investment potential in downtown Boca Raton and the buyers' commitment to luxury real estate development in the area.