The family's investment vehicle, Heirs Funding, paid New York-based American Leisure Resorts $4.35 million or $637.83 per sf for a 6,820-sf condominium. That square-footage is roughly the size of two large three-bedroom, two-bath convention residences in a traditional neighborhood.
American Leisure's president Leon Cohen paid $3.1 million or about $455 per sf for the eight-year-old asset in March 1999, a gross profit of 40%.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
