Apartment Land Sells for $107,000 per Acre

ST. LUCIE WEST, FL-Belmont at St. Lucie West paid Fountains of St. Lucie West Ltd. $3.55 million or $2.48 per sf for the 32.9-acre site southeast of Interstate 95 and St. Lucie West Boulevard. The property is zoned for a 444-unit multifamily rental community.

By David R. Corder | October 19, 2001 at 01:01 AM

The affiliate of Boca Raton, FL-based E.B. Development Inc. acquired the property, located just southeast of Interstate 95 and St. Lucie West Boulevard, from Fountains of St. Lucie West Ltd. The seller is a partnership between Juno Beach, FL-based Seven Kings Holdings and Levitt Corp. The land is within a 4,600-acre planned urban development.

West Palm Beach, FL-based RJS Realty Group represented the seller in the transaction.

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