Berger Commercial closes $6.7M land sale
FORT LAUDERDALE – Broker Reese Stigliano, SIOR, of Berger Commercial Realty Corp., recently closed a $6.76 million sale for BF Accona, LLC, an affiliate of BankFirst of South Dakota.
Stigliano represented the bank in the sale of a 21.49-acre, multifamily parcel, located at 715 Hank Aaron Drive in West Palm Beach, to Aaron Drive Holdings, a West Palm Beach-based company managed by developer and former Florida U.S. Senate candidate Jeff Greene.
BankFirst of South Dakota took the title to the land in August 2009 after winning a $44.8 million foreclosure judgment against Hallandale Beach-based developer SWP Palm Beach. The property had been approved for 620 condominiums, 57 townhouses and 20,000sf of retail space, but construction on the project never began.
Aaron Drive Holdings paid cash, allowing the company to close in less than a month.
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