Robert Suris Of The Estate Companies Acquires Development Site In West Palm Beach For $13M

The Estate Companies acquired a 1.19-acre development site at 411 West Railroad Avenue in downtown West Palm Beach, FL, for $13 million. The site is designated for a new apartment project with 310 units, a height of 15 stories, providing 411 parking spaces and a pool deck.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,000,000
• Buyer: Robert Suris & Jeffrey Ardizon - The Estate Companies
• Seller: Pedro F. Villar - Sunview Companies
• Lender: Banesco USA
• Mortgage Amount: $8,450,000

Robert Suris and Jeffrey Ardizon represented The Estate Companies in the acquisition, while Pedro F. Villar represented Sunview Companies in the sale. The transaction is intended for the development of Soleste Palm Station Two, a significant addition to the West Palm Beach market.