The Real Deal Miami

Jeff Greene adds to West Palm Beach portfolio

Billionaire developer pays $5.5 million for two properties along North Flagler Drive
May 01, 2014 09:45AM

Jeff Greene

Jeff Greene

Billionaire developer Jeff Greene picked up the only two available properties along North Flagler Drive in West Palm Beach.

Greene’s latest purchase gives him control of an entire block in an area poised for a substantial rezoning. He paid $5.5 million for two properties in the Currie Park neighborhood earlier this week. Affiliates of Lehman Brothers sold the parcels to Greene.

The 2617 North Flagler Drive property acquired by Greene was previously slated for a condo project called Prism. The second parcel is located at 2609 Poinsettia Avenue. They are now occupied by empty medical offices and a bank branch.

Palm Beach-based Greene is also on the verge of buying the former WCI-owned property along Flagler Drive, according to the Palm Beach Post.

Brad Capas of CapasGroup Realty Advisors and Mark Pateman of Cushman & Wakefield arranged the latest property sale to Greene. [Palm Beach Post]Eric Kalis