Deerfield Beach-Based Konover South LLC, Partner Acquire City Walk Retail For $512 PSF

May 16, 2019 No Comments by

On May 13, Deerfield Beach-based Konover South LLC, partnering with Gary Broidis, Principal of Delray Beach-based Atlantic Commercial Group, Inc., purchased the prime ground-level City Walk retail located in the heart of Delray Beach’s Pineapple Grove district.

Located at 200 NE 2nd Avenue, the ground-level 16,652-square-foot space houses culinary favorites Brulé Bistro, Joseph’s Wine Bar & Cafe, Yama Japanese Restaurant and more as part of the upscale four-story City Walk residential condominium building.

The seller was Citywalk Commercial Property, LLC, and a loan was assumed with Continental Casualty in the amount of $4.9 million.

The purchase price for the retail property was $8,525,000 equaling $512 per square foot.

 

In making the announcement, Coppa stated, “We are pleased to have ownership in the thriving downtown Delray Beach market, and in this property especially which is home to many of downtown’s most popular restaurants.”

In addition, Coppa said the space also offers both street front and garage parking, plus outdoor seating areas. Coppa added that property management will be provided by Konover South and that leasing will be handled by Gary Broidis.

 

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Industry News, NA, Palm Beach County Retail, Retail
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