Green Terrace Owner, LLC Acquires 84-Unit Multifamily Community In West Palm Beach For $13.5M

The asset involved in this transaction is a multifamily property located at 2800 Georgia Avenue in West Palm Beach, FL. It covers an area of 0.32 acres and consists of 84 units. The transaction was completed for a total price of $13,500,000, which translates to a per unit price of $160,714.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $13,500,000
• Address: 2800 Georgia Avenue
• Market: West Palm Beach, FL
• Acreage: 0.32
• Units: 84
• Price Per Unit: $160,714

This transaction involved several key individuals and companies. The buyer, Green Terrace Owner, LLC, was represented by brokers John Crotty, David Duckworth, Michael Fay, and Brian de la Fé of Avison Young, while Lamar Fisher, Francis Santos, and Paul Fisher represented the deal on behalf of Fisher Auction Company. Legal counsel for the transaction was provided by Jaime Leggett and Brett Amron from Bast Amron Partners. The property offers redevelopment potential, with zoning that allows for up to 20 units per acre, and the possibility for higher density under city programs.