DEVELOPMENT SITE IN NORTH BAY VILLAGE, FLA. SELLS FOR $1.4 MILLION

Site Planned to be Redeveloped as a Luxury Condominium Tower

 North Bay Village, Fla. (May 26, 2021) — Coldwell Banker Commercial represented both the seller, Cedar Island LP, and the buyer, MBM Developments, LLC of a development site in a transaction valued at $1.4 million. The property is located at 7922 East Dr. in North Bay Village, Fla. The buyer and the seller were represented by MJ Ridenour, a commercial real estate professional with Coldwell Banker Commercial NRT.

MBM Developments, LLC plans to redevelop the 0.28 acres site, which is zoned RM-70, with a luxury condominium tower.

“This vacant property drew interest from several residential developers, and a luxury condominium building will surely attract buyers interested in owning their own residence in North Bay Village,” said Ridenour.

“Our company is bullish on North Bay Village and South Florida. This Harbor Island site will especially help meet the heavy residential real estate demand the area is experiencing,” said Anthony Marlowe, president of MBM Developments, LLC.

About Coldwell Banker Commercial NRT

Coldwell Banker Commercial NRT, the local affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com

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Media Contact:  Matthew LiPani, 941.487.1549 or matthew.lipani@cbhomeoffice.com