SOLDDevelopment Site
Esther Lee And Cary Paik Of Sunset Mews Acquire Development Site In Wellington For $2,985,000
2265 Cotton Tail Drive
$2,985,000
$13/SF
Building Size
217,800 SF
Asset Type
Development Site
Closing
Jul 6, 2026
AI
The development site located at 2265 Cotton Tail Drive in Wellington has been sold for $2,985,000. The property encompasses a total area of 217,800 square feet, translating to a price per square foot of $13. It is positioned adjacent to the Winter Equestrian Festival (WEF) showgrounds.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,985,000
- Buyer: Esther Lee & Cary Paik - Sunset Mews
- Seller: Peter Leone - Lionshare Properties South
- Broker: Sandy Nadler & Nicole Leibowitz - Balavaan Realty
Balavaan Realty diligently represented both the buyer, Esther Lee and Cary Paik, and the seller, Peter Leone, during this transaction. The closing marks another successful achievement in Wellington's esteemed equestrian market.
Players
Wellington Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.31%
Cash-on-Cash
-1.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93