The Real Deal Miami

Downtown Delray Beach properties trade for $10M

Local investor buys seven parcels with redevelopment potential
July 22, 2014 03:00PM

20 West Atlantic Avenue

20 West Atlantic Avenue

Seven downtown Delray Beach properties totaling about 2.7 acres changed hands for $10 million.

Rectory Park of Delray Beach sold the 20 West Atlantic Avenue, 38, 40 and 44 South Swinton Avenue and 21 and 23 Southwest First Avenue parcels in a transaction recorded on Friday, according to Palm Beach County records. One of the properties is vacant, while the others are occupied by mixed-use, apartment and single-family residential buildings.

Another Delray Beach company, Atlantic Ave Development, is the buyer. Steven Michael is identified in state corporate records as the company’s registered agent.

No financing was recorded. — Eric Kalis