The Real Deal Miami

Jeff Greene adds to West Palm portfolio

$1.5M purchase comes less than a month after spending $31M on 4.5 acres

June 18, 2015 04:30PM

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Currie Park land assemblage and Jeff Greene

Currie Park land assemblage and Jeff Greene

Real estate investor Jeff Greene added to his portfolio in the Currie Park Corridor of West Palm Beach with the purchase of 0.87 acres, according to a press release.

Less than a month after buying 4.5 acres along Flagler Drive for $31 million, Greene spent $1.51 million on five connected residential lots, a sliver of the $1 billion project he could develop, which would include eight 15-story buildings.

Brad Capas of CapasGroup Realty Advisors brokered the deal, according to the press release. The .029-acre and 0.567-acre properties have 290 feet of frontage along the west side of the 2100 and 2200 blocks of Ponce De Leon Avenue in the Currie Corridor redevelopment district.

Greene has bought land to develop condominiums, office buildings and residential space in several areas downtown and in the Currie Park area north of downtown. His downtown holdings include a site on Dixie Highway between Quadrille Boulevard and 5th Street for which the city has approved two 30-story towers. One is slated for Class A office space and the other for a hotel and luxury condominiums.

At Dixie and Datura Street, Greene bought a property that is zoned for 10 to 12 stories and could be turned into a mixed-use project with residential and retail, he said. — Katherine Kallergis