🏆 Residential: The top sale to hit records in South Florida was in Palm Beach. Investor Thomas Frist and his wife Julie Frist sold a home at 242 Tangier Avenue for $15.4 million. The buyers were Donald Fornes, a software executive, and his wife Lauren Fornes, a designer and author. The Frists purchased the home for $7.9 million in 2016. The home spans 5,600 square feet and has five bedrooms, two full bathrooms and two half baths. It went on the market in December with an asking price of $17.8 million. Crista Ryan with Tina Fanjul Associates had the listing, and Heather Woolems with Sotheby’s International Realty brought the buyers.
🏆 Commercial: The top commercial real estate deal to hit records was in West Palm Beach, where the Temple Israel of West Palm Beach offloaded two vacant parcels at 1865 North Flagler Drive and 304 West Pine Street, which appears to be a parking lot, for $32 million. The buyer was Related Ross, which plans to construct a condo at the site. Related Ross recently secured a $157 million construction loan for the project, called Shorecrest.
📊 Commercial: A development site in Miami traded for $22.5 million. The buyer was Baton Rouge, Louisiana-based Provident Resources Group, who purchased the property, located near Florida International University, from an affiliate of Workforce Housing Partners. The 1.3-acre site will be home to a 20-story student-housing complex with 205 units and 820 beds, per the South Florida Business Journal.
📊 Commercial: In Delray Beach, a warehouse at 1205 Southwest Fourth Avenue sold for $17.2 million. The seller was an LLC tied to Tom Heller of Lighthouse Point, Florida, and the buyer was an affiliate of Faropoint Ventures, based in Hoboken, New Jersey. The property, which last sold in 2002 for $1.9 million, spans about 59,200 square feet, pricing the deal at under $300 per square foot. The building sits on a 3-acre lot.
If you like this digest, you can get it even earlier — every evening — by subscribing to TRD Data, here.