Blue Sky Communities renovating Flamingo West Apartments

BUYER: Blue HC 54 LLC (managers: Shawn Wilson and James Chadwick), Tampa
SELLER: Flamingo West Apartments Inc.
PROPERTY: 3738 W. Idlewild Ave., Tampa
PRICE: $3.5 million
PREVIOUS PRICE: $950,000, October 1992
LAW FIRM ON DEED: Swann Hadley Stump Dietrich & Spears PA, Winter Park

PLANS, DESCRIPTION: Tampa-based Blue Sky Communities LLC purchased the 72-unit Flamingo West Apartments for $3.5 million.

The price equated to $48,611 per square foot. That figure is less than the average price per unit for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.