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NYFL Commercial Holdings buys Cypress Terrace building

  • By Business Observer Staff
  • | 9:11 p.m. November 12, 2009
  • Commercial Real Estate
  • Share

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.

 

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