Terra Group Acquires 1.82 Acre Development Site In Bay Harbor Islands For $31.5M

A development site located at 1177 Kane Concourse in Bay Harbor Islands has been sold for a price of $31,500,000. The property spans across 1.82 acres.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $31,500,000
• Address: 1177 Kane Concourse, Bay Harbor Islands
• Market: Bay Harbor Islands
• Buyer: Terra Group - David Martin
• Seller: Northwood Ravin - David Ravin & Wharton Equity Partners - Peter C. Lewis & David Martin
• Brokers: Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales, & Jose Mota @Berkadia

The sale of this development site was facilitated by brokers Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales, and Jose Mota from Berkadia. The buyer, Terra Group, was represented by David Martin. The seller was a joint venture between Northwood Ravin, headed by David Ravin, and Wharton Equity Partners, led by Peter C. Lewis and David Martin.