NAI Realvest negotiates sale of office condo for $574,425 at the Oaks Professional Center in The Villages

ORLANDO, Fla. – NAI Realvest recently negotiated the $574,425 sale price for a 2,551 square foot office condominium at The Oaks Professional Center, at 8575 138th Lane in The Villages in Lady Lake, Fla.

Jack W. Lynch, senior broker associate at NAI Realvest negotiated the transaction – the first condo sale in the upscale office building built in 2009 – representing the seller, 138th Place Properties, LLC of Windermere, Fla.

CPMP Enterprises of Central Florida, LLC from Bellview, Fla. purchased the property and was represented in the sale by Gary Inclan of South Central Real Estate, Inc.
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For more information please contact: Jack Lynch, Senior Broker Associate, NAI Realvest 407-875-9989 or jlynch@realvest.com; Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

About NAI Realvest: NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.

NAI Realvest Negotiates Sale of Industrial Condo for $272,500 in Southwest Orlando

MAITLAND - NAI Realvest recently negotiated the sale of an industrial condo at Southwest Orlando’s All Star Service Center, 6610 Kingspointe Parkway off Sandlake Rd. West near the Florida Turnpike.

NAI Realvest associate Drew Saphos negotiated the transaction along with principal Christie Alexander and chairman George Livingston. NAI Realvest represented the seller, Columbus, Ohio-based United Midwest Savings Bank.

Legend Express, Inc. USA is the buyer who paid $272,500 for the 4,800 square foot facility which includes 720 square feet of office/showroom space.

Chuck McNulty of McNulty Group represented the buyer in the transaction.
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For more information, please contact: Christie Alexander or Drew Saphos, NAI Realvest, 407-875-9989; Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

About NAI Realvest: NAI Realvest in Orlando, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.

Lennar Reports Sales of 17 Terrace Condominiums in August at Heritage Bay in Naples, only 20 Terrace Homes remain for sale

NAPLES, Fla. - Lennar’s Southwest Florida Division reports it sold 17 new Terrace Condominiums in August and thus far in September, seven, at Heritage Bay, a gated golf and country club resort community located on Immokalee Rd. east of I-75 in Naples.

Matt Devereaux, director of sales for Lennar’s Southwest Florida division, said only 20 terrace condominiums remain for sale.

New two bedroom, two bath Terrace Condominiums at Heritage Bay offer 1,232 square feet of living space to 1,434 square feet and pricing starts from the mid-$100s.

Membership in the 27-hole Heritage Bay championship golf course is included with each home purchased at the Terrace Condominiums at Heritage Bay, and amenities include a two-story clubhouse that features fine and casual dining, card and meeting rooms, a resort-style swimming pool with a sun deck and a poolside “Chickee Bar.” State-of-the-art fitness facilities and seven lighted Har-Tru tennis courts with stadium seating for tournaments are also among the amenities, Devereaux said.

Eighty percent of the land at Heritage Bay in Naples is comprised of lakes, golf course and preserves, providing beautiful lake and golf views from most homes, Devereaux said.

For more information, contact:
Matt Devereaux, Director of Sales, Lennar-Southwest Florida 239-278-1177
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Stirling Sotheby’s International Realty Associate Plays Key Role in Auction

ORLANDO, Fla. - Stirling Sotheby’s International Realty recently honored senior business developer Troy Fletcher for his work in negotiating one of the firm’s most successful property auction agreements in 2009.

Fletcher, who joined Stirling Sotheby’s International Realty in mid-2008, worked with developers to secure the agreement to auction off 27 luxury condominiums remaining for sale at Artisan Park condominiums in Celebration.

The auction, which was widely marketed throughout the U.S. and internationally, was a resounding success. All 27 condominiums were sold, generating more than $6 million in sales.

“Troy Fletcher is a talented, enthusiastic executive who is part of the company’s elite Workout Team that focuses on supporting builders, developers and lenders,” said Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty.

For more information about this press release, contact:
Roger Soderstrom, Stirling Sotheby’s International Realty Founder/Owner 407-588-1260
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

About Stirling Sotheby’s International Realty:
Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates five performance centers which serve all of Central Florida. Visit www.StirlingSIR.com.

Only four luxury condominium units remain for sale at The Sanctuary condominium in downtown Orlando

ORLANDO, Fla. — Only four luxury condominiums remain for sale at The Sanctuary luxury condominium, bordered on Church St., Eola Pine and Osceola in downtown Orlando.

The first luxury condominium building to open in downtown Orlando, the 12-story Sanctuary tower is a signature community for developers Royal Palm and Historic Creations Design Group of Orlando.

Albert Kodsi, president of Royal Palm, said remaining units are priced from the mid $300s and range in size from 1,700 square feet of living space to 2,100 square feet.

For more information, contact
Steve Kodsi, President Historic Creations Design Group 407-422-4664
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Star Tower luxury condominium in downtown Orlando reports it sold more than half of its luxury units

ORLANDO, Fla. — Star Tower, the luxury condominium located in downtown Orlando, reports it has sold more than half of its condominiums.

Steve Kodsi, president of Historic Creations Design Group, developers of Star Tower, said remaining units are priced starting from the mid $300s and range in size from 1,700 square feet of living space to 2,000 square feet.

Kodsi also said three 3,600 square foot penthouse condominiums at Star Tower are priced at more than $1 million.

For more information, contact
Steve Kodsi, President Historic Creations Design Group, 407-422-4664
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

DiMucci Companies Seeks Permitting for Towers 14 with 28 Luxury Condominiums Priced from the $400s in Daytona Beach Shores

DiMucci Companies Seeks Permitting for Towers 14 with 28 Luxury Condominiums Priced from the $400s in Daytona Beach Shores

DAYTONA BEACH SHORES, Fla. - The DiMucci Companies, developer of the DiMucci Towers on S. Atlantic Ave. in Daytona Beach Shores, is seeking construction permits to start work Towers 14, which will offer 28 luxury oceanfront condominiums priced from the $400s to the $600s.

Anthony DiMucci, who heads The DiMucci Companies, said he plans to start construction when the market for luxury oceanfront condominiums improves perhaps late next year.

“What we’re finding is that the higher-priced, larger condominiums with better views are selling better than the smaller units,” DiMucci said.

“The luxury market has not been affected as much as the middle of the market by the real estate slowdown,” he said.

For more information contact:
Corinne LeClaire, Broker DiMucci Realty Company 386-322-2000
Anthony DiMucci, President The DiMucci Companies 386-322-2000
Larry Vershel Communications, Larry Vershel or Beth Payan 407-644-4142

NAI Realvest negotiates sale of 1,200 square foot office condo for $374,000 in Lake Mary

NAI Realvest negotiates sale of 1,200 square foot office condo for $374,000 in Lake Mary

ORLANDO, Fla. – NAI Realvest recently negotiated the $374,000 sale price for a 1,200 square foot office condominium at Lake Mary Professional Campus, a 10-building development located at the intersection of I-4 and Lake Mary Blvd.

Jack W. Lynch, senior broker associate at NAI Realvest negotiated the transaction representing the seller, Enlightened Debt Solutions of Lake Mary.

Richo Industrial, Inc., a Winter Park-based firm, purchased suite 1021 in the building located at 1301 S. International Parkway.

For more information, please contact:
Jack Lynch, NAI Realvest 407-875-9989 or jlynch@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

About NAI Realvest:
NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.

Only Seven Condominiums Remain for Sale Priced from $120,900 at Lakeside Condominiums in Windermere

Only Seven Condominiums Remain for Sale Priced from $120,900 at Lakeside Condominiums in Windermere

ORLANDO, Fla. - Only seven condominiums remain for sale priced from $120,900 at Lakeside Condominiums, located off Chase Road at C.R. 535 in Windermere.

Michael Roche, vice president of sales and marketing for Ashton Woods Homes in the Orlando region, said two and three-bedroom condominiums at Lakeside Condominiums range in size from 1,161 square feet of living space to 1,455 square feet.

Ashton Woods Homes opened Lakeside Condominiums in 2005 with 380 condominium units, Roche said.

Lakeside Condominiums, over looking Lake Burden, features resort-style amenities that include a large community clubhouse with billiards, a state-of-the-art fitness center, community swimming pool, sand volleyball court, and outdoor barbeque fireplace.

For more information, contact:
Michael Roche, VP Sales & Marketing Ashton Woods Homes-Orlando/Tampa, 407-647-3700;
John Reny, President, Ashton Woods Homes-Orlando/Tampa 407-647-3700;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

About Ashton Woods Homes:
Ashton Woods Homes is a subsidiary of the Great Gulf Group of Companies, a North American real estate conglomerate headquartered in Toronto, and currently has communities under development in Houston, Dallas, Atlanta, Phoenix, Tampa, Denver and Orlando.

Lennar Reports Sales of Eight Terrace Condominiums in One Week at Heritage Bay in Naples

Lennar Reports Sales of Eight Terrace Condominiums in One Week at Heritage Bay in Naples

NAPLES, Fla. - Lennar reports it recently sold eight Terrace Condominiums in one week at Heritage Bay, located on Immokalee Rd. east of I-75 in Naples.

Matt Devereaux, director of sales for Lennar’s Southwest Florida division, said all eight sales were in Building 15, which won’t open until November.

Only nine Terrace Condominiums at Heritage Bay remain for sale in Building 15 priced from the mid-$100s.

Three Terrace Condominium floor plans are available, with two and three bedrooms and two baths, Devereaux said.

New home buyers at Terrace Condominiums at Heritage Bay receive free membership in the 27-hole Heritage Bay championship golf course, which includes country club and tennis memberships and privileges at the Heritage Bay spa and fitness center.

The spectacular Heritage Bay community center with its two-story clubhouse also features fine and casual dining, resort-style swimming pool with a poolside “Chickee Bar,” seven lighted Har-Tru tennis courts with stadium seating, Devereaux said.

“We have created a resort-style community at Heritage Bay at spectacular pricing and value,” Devereaux said.

For more information, contact:
Matt Devereaux, Director of Sales, Lennar-Southwest Florida 239-278-1177
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Melrose-Sovereign Companies Awarded Contract to Manage Hyer House Condominiums in Downtown Orlando

Melrose-Sovereign Companies Awarded Contract to Manage Hyer House Condominiums in Downtown Orlando

ORLANDO, Fla. - Melrose-Sovereign Companies, which ranks as one of Florida’s largest community management companies, was recently awarded a contract to manage the Hyer House Condominiums, located on Hyer Ave. in downtown Orlando.

Ellen Lumpkin, co-founder and partner at Melrose-Sovereign Companies, said Hyer House is a residential condominium complex within walking distance of Lake Davis and Thornton Park.

Jack Hanson, co-founder and partner at Melrose-Sovereign said the firm currently manages properties for more than 150 developers, investors and owners throughout Florida,
Melrose-Sovereign Companies, formed in 2008 with the merger of Melrose Management Group and Sovereign Residential Services in Orlando, currently employs more than 100 property management specialists in offices in Jacksonville, Orlando, Daytona Beach, Tampa, Palm Harbor, Bradenton/Sarasota, Port Charlotte and Fort Myers.

For more information contact:
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com

Lennar Has 41 Terrace Condominiums under Construction, Priced from under $150,000, Ready by Dec. 1 -- With Golf

Lennar Has 41 Terrace Condominiums under Construction, Priced from under $150,000, Ready by Dec. 1 -- With Golf

NAPLES, Fla. - Lennar has 41 luxury terrace condominiums under construction now that will be ready by Dec. 1 with top model upgrades at its gated Heritage Bay Golf & Country Club community located on Heritage Bay Blvd. off Immokalee Rd. in Naples.

Matt Devereaux, director of sales for Lennar’s Southwest Florida Division, said two and three-bedroom condominiums with two-and-a-half baths at Heritage Bay Terrace Condominiums are priced from under $150,000 including golf membership at the Heritage Bay Golf Club with a 27-hole championship course designed by Gordie Lewis.

All 41 Heritage Bay Terrace Condominiums are slated to close before Dec. 1, Devereaux said. Some of the top model upgrades offered are clean steel appliances, wood cabinets, Corian countertops and 18-inch tile floors.

Heritage Bay offers resort-style amenities, with a two-story clubhouse featuring fine and casual dining, a resort-style swimming pool with a “Chickee Bar,” a fitness area, and seven lighted Har-Tru tennis courts with stadium seating for tournaments.

Devereaux said more than 70 percent of the land at Heritage Bay is comprised of lakes, golf course and preserves, with exceptional lake and golf views.

For more information, contact:
Matt Devereaux, Director of Sales, Lennar-Southwest Florida 239-278-1177
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Several New Beach Street Courtyard Condominiums in Downtown Daytona Beach Now Available for Lease

Several New Beach Street Courtyard Condominiums in Downtown Daytona Beach Now Available for Lease

DAYTONA BEACH – If you toured the Beach Street Courtyard condominiums earlier this year and fell in love with the luxurious two-story loft homes but came down with a slight case of sticker shock, you now can take one of the upscale homes for a test drive before committing to buy.

Three of the 12 units atop more than 8,000 square feet of retail space at 128 S. Beach St. now are available as rentals, according to Aswin Suri, owner of EXIT Realty of Daytona. Suri is marketing the upscale mixed-use development for Richard Friedman’s Chadwick Real Estate Group.

The one- and two-bedroom lofts – which include garages, elevators, terraces and river views – range in size from 1,304 to 2,135 square feet of living space, Suri said. Rental prices range from $960 to $1,620 per month.

The Beach Street Courtyard project – which has been heralded by some city officials as the “new urbanism” in an aging downtown area – pairs the loft town homes with first-floor commercial space that will include a 5,000-square-foot restaurant with features such as al fresco dining in a cobblestone courtyard. Commercial space is available for lease as well.

Beach Street Courtyard condominiums, situated across the street from a city park, stand out from other developments for their location, amenities, as well as a multitude of pricy upgrades: granite countertops, energy-efficient stainless steel Viking appliances, polished hardwood floors, custom cabinets and doors, travertine tile, cathedral ceilings, premium hardware, Berber carpeting, ceiling fans, interior sprinkler systems and high-grade category 5 data/video/audio and telephone lines.

All of the units at Beach Street Courtyard remain for sale with prices ranging from $399,000 to $599,000. The leased units should be particularly attractive to investors who are interested in purchasing a luxury loft as income-producing property, Suri said.

For details on how you can make 128 S. Beach St. your new home address, contact Aswin Suri or Natali Levine, EXIT Realty at 386-257-3948.

For more information about this release, please contact:
Aswin Suri or Natali Levine, EXIT Realty of Daytona, 386-257-3948
Charlene Hager-Van Dyke, LV Communications, 386-837-8780 or 407-644-4142

Concordia Cape Coral opens Two Luxury Models Priced from the $70s, Second Phase under Development– 49 condominiums have sold within last 60 days

Concordia Cape Coral opens Two Luxury Models Priced from the $70s, Second Phase under Development– 49 condominiums have sold within last 60 days

CAPE CORAL, Fla. - Concordia Cape Coral, the master-planned luxury condominium community Concord Wilshire Realty is selling, has opened two professionally decorated model condominiums priced from the $70s.

Andy Garrett, managing director at Concordia Cape Coral, located off Del Prado Blvd. and Kismet Parkway, said one, two and three-bedroom condominiums at Concordia Cape Coral range in size from 1,182 square feet of living space to 1,642 square feet.

New condominiums at Concordia Cape Coral are priced from $76,830 to $128,076, Garrett said.
Over the past 60 days, Concordia Cape Coral has sold 49 condominiums at an average sale price of $91,000, Garrett said.

Only 43 condominiums remain for sale in the first phase. Construction of a second phase with 170 condominiums is nearly complete, and is planned to be released within the next 30 days.
Concordia Cape Coral will ultimately include 340 luxury condominiums with attached garages, surrounding a five-acre lake, with a Mediterranean-style clubhouse that features a tropical club room furnished for group and individual gatherings, state-of-the-art fitness center, and a large swimming pool and Jacuzzi overlooking the lake.

Details, floorplans and pricing are available at http://www.concordiasales.com/, 239-214-2323 or info@concordiasales.com.

For more information, contact:

Susan Lucia, Marketing Director, Concord Wilshire Realty, LLC, 850-581-0766, s.e.lucia@hotmail.com

Steve Sirang, Chief Executive Officer, Concord Wilshire Companies 310-471-2400, ssirang@concordwilshire.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com

Nearly Half of Central Florida Home Buyers Pay Cash as Lower Priced Condominiums and Homes Impact Housing Market

Nearly Half of Central Florida Home Buyers Pay Cash as Lower Priced Condominiums and Homes Impact Housing Market

ORLANDO, Fla. - Almost half---42.3 percent---of all home buyers in Central Florida during the first five months of this year paid cash, according to recent figures from the Orlando Regional Realtor Association (ORRA).

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty www.StirlingSIR.com in Orlando, said while ORRA’s information includes condominiums and single-family homes that buyers have been snapping up for as low as $70,000, his firm has been closing cash sales in most price ranges this year.

“I think the historically large volume of cash sales is due not only to a large inventory of lower-priced condominiums – many left over from the deluge of condominium projects and conversions between 2005 and 2007 – but also homebuilder inventories and resale properties priced under $350,000, Soderstrom said.

Soderstrom said new conventional loans totaled just over 27 percent of all home sales during the period. FHA loans totaled 23.62 percent of all homes sold.

“FHA financing is becoming very popular today because of the low 3.5 percent down payment required, and the maximum loan amount has been raised to $417,000, which would apply to most homes sold in Central Florida,” Soderstrom said.

Soderstrom said he was surprised by the relatively low number of homes – 1.78 percent of the total – sold with Veterans Administration financing.

“Many individuals in Florida qualify for VA loans, which require no down payment on a mortgage of up to $417,000,” Soderstrom said.

“We are currently encouraging our buyers to utilize the VA loan program if they are eligible,” he added.

During the first five months of the year ORRA reported 7,834 home sales closed.

For more information please contact:
Roger Soderstrom, Owner/Founder, Stirling Sotheby’s International Realty 407.588.1260; http://www.StirlingSIR.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407.644.4142

About Stirling Sotheby’s International Realty:
Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, worldwide auctions, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates five performance centers which serve all of Central Florida.

Small Bay Partners to Start Construction of First Phase of Industrial Facility in Southeast Orlando

Small Bay Partners to Start Construction of First Phase of Industrial Facility in Southeast Orlando

ORLANDO, Fla. – Small Bay Partners, LLC, which ranks as one of the region’s most active developers of industrial facilities for small bay users, plans to start construction on the first phase of a new CommerCenter project at 7629 Narcoossee Road (just North of the Beachline Expressway) in southeast Orlando before the end of the year.

Howard Schieferdecker, one of the principals in the firm, said Small Bay is taking a fresh approach with its new project.

Along with industrial space, the firm plans to develop 14,000 square feet of retail space and 106,000 square feet of industrial condominiums in the 120,000 square foot CommerCenter facility.

The first phase will include 57,000 square feet, Schieferdecker said, including all of the planned retail space.

Small Bay Partners has developed more than 500,000 square feet of industrial space in four Central Florida locations in Sanford, Winter Garden, South and East Orlando.

Small Bay reports it has sold some 33,150 square feet of space – 45 percent of the condo space available – in the fourth phase at Monroe CommerCenter in Sanford.

Schieferdecker said 40,500 square feet of space remains for sale at Monroe CommerCenter IV with the total project being 73,650 square feet of small bay industrial space.

For more information contact:
Howard Schieferdecker, Principal Small Bay Partners, LLC 407-702-3131, haschief@aol.com;
Geof Longstaff, Principal Small Bay Partners, LLC - 407-786-5040; glongstaff@mercantilecc.com;
George Livingston, Principal, Small Bay Partners LLC - 407-857-9989 glivingston@realvest.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142