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2700 North Ocean
City:
Singer Island
County:
Palm Beach
Type:
Condos
Category:
Sale
Length:
0 months
Lessor/Seller:
2700 North Ocean LLC (Dan Catalfumo)
Lessee/Buyer:
Singer Island Condominiums (Oz Holdings, Flager Group and others)
Area:
150 units Value:
99,999,999.99 USD
Company:
Pordes Residential Sales & Marketing, Aventura FL
Agent(s):
Mark Pordes
Condo sales expert Mark Pordes brokered the largest residential sale in Palm Beach, Broward and Miami-Dade counties this year, negotiating the sale of 150 units at the luxury 2700 North Ocean condominium towers on Singer Island in Palm Beach County. The deal is valued at roughly $120 million.
His deal took several months to complete. “We figured out a structure that worked for both the developer, Catalfumo and OZ Holdings, the private equity fund from New York,” Pordes says. “It took awhile because the deal kept changing.
“At first, it was going to be a partnership, and then became an outright buyout. To make it work, though, the lender required more time and diligence to get comfortable with the assignment of debt to the new group.”
“Our approach is working for developers, investors and lenders,” Pordes says. “I expect to complete deals in the pipeline in the upcoming months.”
/CONTACT Julie Talenfeld or Jennifer Clarin of Boardroom Communication, 954-370-8999 or jtalenfeld@boardroompr.com.
Pordes Residential Sales & Marketing
18851 NE 29th Avenue, Suite 1011
Aventura, Florida 33180
P. 786-245-8379
www.pordesresidential.com
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