The Real Deal Miami

Bulk buyer snaps up 32 WPB condos

November 10, 2010 11:15AM

Private equity group Ouellette Investments, led by principal Louis
Ouellette of Pompano Beach, paid $2.2 million for 32 units in the
Cypress Trail condo in West Palm Beach, according to a report from Condo
Vultures. The deal works out to an average of $61 per square foot, a
drop from the previous average closed sales price at the project of $134
per square foot. The properties are comprised of two- and three-bedroom
units adding up to around 36,000 square feet. The report was based on
records from the Palm Beach County Clerk of the Court. TRD