Ohio firm buys Jupiter apartment complex for $26.7M

Sea Brook Place apartments sold for $256,731 per unit

Jun.June 02, 2017 01:17 PM

1026 South US Highway 1

An apartment complex in Jupiter just sold for $26.7 million to an affiliate of the Ohio-based real estate developer company Pleasant Valley Corp., records show.

The Sea Brook Place apartment complex at 1026 South US Highway 1 has 104 units, records show. It has about 82,197 square feet, according to Zillow.

Mangrove Bay Housing LLC, an affiliate of Palm Beach Gardens-based Eastwind Development led by John F. Weir, sold the multifamily complex for $325 per square feet. The sale price breaks down to $256,731 per unit.

The Sea Brook Place apartments were built in 2014, and contain three buildings on 4.68 acres, records show.

Eastwind Development was active last year in South Florida’s multifamily boom. The company sold two apartment communities for a combined $66 million last April and closed a $6.3 million deal for land to build a new Pembroke Pines apartment community just two days later.

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