Convent in Palm Beach County sells for $6M

Miami /
Jan.January 19, 2015 11:15 AM

A recently sold convent in Palm Beach County will be developed into a waterfront residential and retail project.

Cenacle Convent of Palm Beach County sold the nearly 10-acre site to a subsidiary of Trinsic Residential Group on Jan. 8, Palm Beach County records show. The waterfront property housed the Cenacle Sisters of Lantana.

Trinsic Residential was approved to build 244 condos or apartments at the site, the Sun Sentinel reported. Aura Seaside will include 10,000 square feet of retail. Because the convent was exempt from taxes, Lantana mayor David Stewart told the Sun Sentinel that the redevelopment will generate tax revenue for the town.

The Palm Beach property appraiser last appraised the site at $8.8 million. Buildings on the property, which included a school, were built between the 1950s and the 1960s. A previous sale for the site at 1400 South Dixie Highway in Lantana was not recorded. [Sun Sentinel]Katherine Kallergis


Related Articles

arrow_forward_ios
Villas at Cove Crossing at 2730 Lantana Road with Equity's Ben Mallah and Greystone CEO Stephen Rosenberg (Google Maps)
Greystone sells Lantana apartments to real estate mogul for $10M
Greystone sells Lantana apartments to real estate mogul for $10M
319 North Atlantic Drive and Richard Breeden (Douglas Elliman, Getty)
Ex-SEC head known as “King Richard” buys Lantana mansion
Ex-SEC head known as “King Richard” buys Lantana mansion
Thomas M. Herzog of Healthpeak Properties and 3061 Donnelly Drive, Meridian at Lantana (Credit: Google Maps)
Healthpeak sells senior housing facility in Lantana at huge discount
Healthpeak sells senior housing facility in Lantana at huge discount
1310 West Lantana Road
Motel 6 in Lantana sells to Hare Krishna company for $6M
Motel 6 in Lantana sells to Hare Krishna company for $6M
Related buys Water Tower Commons dev site in Lantana
Related buys Water Tower Commons dev site in Lantana
Related buys Water Tower Commons dev site in Lantana
Tampa firm buys affordable housing complex in Lantana
Tampa firm buys affordable housing complex in Lantana
Tampa firm buys affordable housing complex in Lantana
Sam Zell’s Equity LifeStyle Properties scores loan for mobile home park near Lantana
Sam Zell’s Equity LifeStyle Properties scores loan for mobile home park near Lantana
Sam Zell’s Equity LifeStyle Properties scores loan for mobile home park near Lantana
Bridge Investment Group pays $77M for senior living complex in Lantana
Bridge Investment Group pays $77M for senior living complex in Lantana
Bridge Investment Group pays $77M for senior living complex in Lantana
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...