The Real Deal Miami

Firm buys last units at 2700 North Ocean Drive

June 10, 2010 12:45PM

2700 North Ocean Drive

Lionheart Capital, a Miami-based private equity firm, has purchased the remaining 146 condo units at 2700 North Ocean Drive in Riviera Beach in a $117.3 million bulk buy. Peter Zalewski, founder of real estate research firm Condo Vultures, said that the deal is the third-largest bulk sale in South Florida. The 2700 North Ocean Drive condominium has struggled recently, having sold 96 units — less than half its total — since it launched sales. [Sun-Sentinel]