Waterside At Bay Beach – Sold 2015Administrator2017-11-21T11:09:19-05:00
Located on the southernmost end of Estero Island, the Waterside at Bay Beach community is a gated, luxury high-rise development featuring seven condominium buildings with a mile of frontage on Estero Bay. Halstatt Real Estate Partners took control of 19 unsold units, which were located in Waterside at Bay Beach Phase VII (the Manatee Bay building), a 58-unit high rise tower with 10 floors of residential units above ground floor parking. The acquisition also included an adjacent 2.05-acre development parcel with in-place entitlements for an additional 58 waterfront units within the Waterside at Bay Beach community.
After identifying the pent-up demand for existing units, Halstatt Real Estate Partners repriced the product and sold the units at a premium to the acquisition cost. Within 24 months of acquisition, local and regional developers were becoming more active, and the development parcel was quickly sold.
4191 Bay Beach Ln, Fort Myers Beach, FL 33931