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Investor Gets Divine Deal on Condos

MIAMI—This sale represented a 35% premium to the 2011 sale price of $1.1 million which illustrates just how much the market has improved in two years.

By Jennifer LeClaire | Updated on March 04, 2013

MIAMI—Divine Condos, a slightly fractured condo project in South Tampa, has changed hands. A private investor sold the distressed asset to another private investor for $1.475 million. That sale price equates to $56,731 per unit and $101 per square foot.

Casey Babb, a senior multifamily specialist at Marcus & Millichap‘s Tampa office, along with associate Luis Baez, had the exclusive listing to market the property on behalf of the local seller. A cooperating broker secured the buyer of the property.

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