Allen Konstam, Mark Drachman, Ira Chaimovits & Steve Neumann Acquire Development Asset For $7.5M

The asset involved in this transaction is located at 9440 West Bay Harbor Drive in the Bay Harbor Islands market. The development property was sold for $7,500,000, comprising 12 units with a price per unit of $625,000. The total square footage is 12,500, which reflects a price per square foot of $600.

Summary of transaction details:

• Property Type: Development
• Transaction Amount: $7,500,000
• Units: 12
• Price per Unit: $625,000
• Square Footage: 12,500
• Price per Square Foot: $600
• Buyer: Allen Konstam, Mark Drachman, Ira Chaimovits & Steve Neumann - Condra Property Group
• Seller: West Bay Club Association
• Brokers: Batsheva Rivkin - Sotheby's International Realty; Michael Golomb - 7even Capital

The transaction features prominent individuals such as Allen Konstam, Mark Drachman, Ira Chaimovits, and Steve Neumann, who are associated with Condra Property Group as the buyers. The sellers, West Bay Club Association, were represented in the deal by brokers Batsheva Rivkin from Sotheby's International Realty and Michael Golomb from 7even Capital.