In the most recent activity, Palm Beach Land Trust LLC principal David Barley made a $3-million profit for his associates in 90 days. Three months ago, Barley bought a prime parcel at Livingston Street and Garland Avenue from entrepreneur Bob Stine's Star S Properties for $7.75 million or $2.62 million per acre ($60.10 per sf). The developer then sold the corner to Orlando Land Trust LLC Feb. 24 for $10.75 million or $3.63 million per acre ($83.37 per sf).

The $3.63-million-per-acre price is the second highest on record, according to Globest.com research. The highest recorded per-acre price is the $4.72 million ($108.26 per sf) that Orlando developer Cameron Kuhn paid in November 2003 to the locally based Tavistock Group for the 2.29-acre Jaymont Block Downtown, as GlobeSt.com previously reported.

Barley tells GlobeSt.com he initially purchased the 2.96-acre parcel "to protect my interests" in the $387-million, mixed-use 400 North Orange Project. His associates plan to start developing the project at year's end on a 5.6-acre parcel at Livingston Avenue and North Orange Avenue, as GlobeSt.com previously reported. Barley's associates paid Columbus, OH developer Ronald A. Pizzuti $17.1 million, or $3 million per acre (70 cents per sf), for the tract.