Anthony Marlowe Sells Development Site In North Bay Village For $2.5M With Beachfront Realty

The development site located at 7922 East Drive in North Bay Village was recently sold in a closed transaction. The property is a speculative waterfront condo development lot with a building square footage (BSF) of 11,200. The sale price for the site was $2,500,000, which translates to a price per building square footage (PPBSF) of $223.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $2,500,000
• Building Square Footage: 11,200
• Price per Building Square Footage: $223
• Market: North Bay Village
• Seller: Anthony Marlowe
• Brokers: Samuel Heskiel & Shani Ben-Hanania - Beachfront Realty

This transaction marks a significant achievement for Anthony Marlowe, who acquired the development lot for $115 per foot in May of 2021. With the help of Samuel Heskiel and Shani Ben-Hanania from Beachfront Realty, Marlowe was able to sell the property for almost double the acquisition price in just approximately 20 months. This sale demonstrates the continuous demand for Florida waterfront properties and the lucrative opportunities they present.