NYFL Commercial Holdings buys Cypress Terrace building
BUYER: NYFL Commercial Holdings LLC (principal: Tom Venetis), Fort Myers
SELLER: Bank of Florida —Southwest
PROPERTY: 7001, 7011 and 7051 Cypress Terrace, Fort Myers
PRICE: $2.25 million
PREVIOUS PRICE: $6.6 million
LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers
PLANS, DESCRIPTION: Tom Venetis' NYFL Commercial Holdings LLC purchased Palm Professional Terrace, a 30,019-square-foot, two-story, retail/office building and a 0.7-acre outparcel on Cypress Terrace and U.S. 41 for $2.25 million. The purchase equated to $75 per square foot of building space.
Chase Mayhugh of Mayhugh Realty, Inc. represented the buyer, and Michael J. Frye of the Frye Commercial Group at Re/Max Realty Group Commercial Division represented the seller.