New York City investment firm buys two Preserve Lane buildings

BUYER: Insignia Center LLC (Blackstone Management Properties LLC), New York City
SELLER: 7765 Preserve Lane LLC
PROPERTY: 7765 and 7775 Preserve Lane, Naples
PRICE: $1.58 million
PREVIOUS PRICE: $2.74 million, November 2006
LAW FIRM ON DEED: Cheffy Passidomo, Naples

PLANS, DESCRIPTION: New York City's Blackstone Management Properties LLC purchased the two-building Insignia Center development for $1.58 million.

The price equated to $195 per square foot.