Space Beach, LLC has purchased a 34 unit Multi-Family Property located at 656 Beach Drive in St. Petersburg for $2,325,000. Space Beach, LLC, an out of state Buyer, has plans to completely renovate the property including a social area and lobby. “My Buyer clearly had a vision for this property that he knew he could execute to create value,” says Paula Clair, CCIM West Coast District Member who brokered the deal.
The closing took place on December 30, 2016 but was not recorded until January. Once the deal was under contract, it took 60 days to close. The total sales price per unit was $68,382.
Paula Clair is the director for commercial services for Colliers international.