Riviera Beach land between resorts sells for $10.5MProperty trades for steep discount from 2005, 2008 sale prices
June 02, 2014 12:45PM The Real Deal South Florida Real Estate News
Riviera Beach Investors plunked down $10.5 million for a beachfront property located between the Palm Beach Marriott Singer Island Resort & Spa and Hilton Singer Island Oceanfront/Palm Beaches.
The Orlando-based company acquired the 2.8-acre parcel at 3730 North Ocean Drive last Tuesday, according to Palm Beach County records. It did not obtain financing for the purchase. The property’s zoning allows for hotel or residential development.
Another Orlando company, Marriott Ownership Resorts, sold the land to Riviera Beach Investors, which got a significant discount…