Woodfield Acquires West Palm Beach Condos at Auction

Avison Young and Fisher Auction completed the sale of all of the units and the .32-acre clubhouse/pool parcel of the 84-unit, 13-building condominium community located at 2800 Georgia Avenue in West Palm Beach, Florida. Woodfield Development was the top bidder at $13.5 million. The development was over $1.5 million behind in paying its water bills.

Avison Young Principals John K. Crotty, David Duckworth, Michael T. Fay and Brian C. de la Fé, along with Fisher Auction Company’s Lamar Fisher, Francis Santos and Paul Fisher, led the marketing and auction process.

The property offers redevelopment opportunities, with existing MF-20 zoning permitting up to 20 dwelling units per acre. West Palm Beach’s Future Land Use designation allows for densities of up to 32 dwelling units per acre, while the city’s Affordable and Workforce Housing Overlay can increase allowable density to as many as 40 dwelling units per acre for projects that meet designated affordability requirements.

The property is located just south of Downtown West Palm Beach.

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Woodfield Development

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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◦Sale/Acquisition

3100, 3102, 3104, 3106 SE Brook St
Stuart, FLFlorida & Gulf Coast + 2-4 Units
Listing Status: Available
Listing Type: Highest & best offer
Price: $865,000
No. of Units: 4
Year Built: 1982
Opportunity Zone: No
Price per unit: $216,250
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105 NE 16th Terrace
Fort Lauderdale, FLFlorida & Gulf Coast + Apartment Buildings
Listing Status: Available
Listing Type: Call for offers
Price: $3,300,000
No. of Units: 14
Year Built: 1953
Opportunity Zone: No
Price per unit: $235,714
Learn More