In one of the most interesting deals in recent memory, the 488 units of the Town of Briny Breezes was sold to a developer this week for $510 Million, making most of the property owners instant millionaires.
The residents of the mobile home park (that was also incorporated as a town) voted by an 82% margin to ratify the board's position accept the developer's offer and sell their little piece. The developer is Ocean Land Investments, and they are delighted with the decision of the residents. They see the property as a windfall, and indeed it is one of the last pieces of land in South Florida that has both beach and intracoastal frontage. Ocean Land Investments is proposing 900 condo units, a luxury hotel and a marina. We will keep a close watch on this property as it could turn out to be a great project.
Here is a map of the location of Briny Breezes:
The residents of the mobile home park (that was also incorporated as a town) voted by an 82% margin to ratify the board's position accept the developer's offer and sell their little piece. The developer is Ocean Land Investments, and they are delighted with the decision of the residents. They see the property as a windfall, and indeed it is one of the last pieces of land in South Florida that has both beach and intracoastal frontage. Ocean Land Investments is proposing 900 condo units, a luxury hotel and a marina. We will keep a close watch on this property as it could turn out to be a great project.
Here is a map of the location of Briny Breezes:
No comments:
Post a Comment