Oceanfront land near Briny Breezes sells, new owner to build townhouses


An oceanfront lot next door to Briny Breezes has a new owner who plans  to build 14 luxury townhouses.

Gulf Stream Views LLC of Secaucus, New Jersey, paid $5.4 million for the site, according to property records. The new owner, a division of National Realty Investments Advisors, took a $16.5 million loan to buy the lot and develop the townhouses.

The lender is Trez Forman Capital Group. While the Palm Beach County Property Appraiser says the site is 1.5 acres, it was marketed as a 1.98-acre parcel.

Trez Forman President and Chief Executive Brett Forman said Tuesday that each three-story unit will include an elevator, a rooftop deck, a splash pool and a two-car garage. The three-bedroom townhouses will include 3,400 square feet of air conditioned space.

Prices range from $1.8 million to $2.25 million.

The property at 30 Briny Breezes Blvd. is in an unincorporated area just south of Briny Breezes.

The vacant site once was home to the Pelican Beach apartments. The property last sold in 2006 for $3.2 million, according to property records.

 [Summary]


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