Blueteck Acquires Development Site At 6562 Belvedere Road For $3 Million From Andrew Gurewitsch And Shawn Chemtov

The property asset involved in the transaction is a development site located at 6562 Belvedere Road, West Palm Beach. The sale price for the property was $3,000,000, with a building square footage of 35,022 and a price per building square foot of $85. The lot has a total square footage of 112,052, translating to a price per square foot of $26.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,000,000
• Building Square Footage: 35,022
• Price Per Building Square Foot: $85
• Total Square Footage: 112,052
• Price Per Square Foot: $26
• Buyer: Blueteck
• Seller: Andrew Gurewitsch - ALG Capital & Shawn Chemtov - Chemtov Mortgage Group
• Brokers: Robert Smith & Kirk Nelson - CBRE

The transaction involved key representatives including Andrew Gurewitsch from ALG Capital and Shawn Chemtov from Chemtov Mortgage Group as sellers. The property was marketed and brokered by Robert Smith and Kirk Nelson from CBRE. Notably, the property was sold with Site Plan Approval to develop approximately 35,022 SF of Warehouse/Office Space.