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Real Estate

Another bulk buy oceanfront!!

Cashflow In Miami
November 14, 2022

2730 South Ocean Boulevard and   2720 South Ocean Boulevard , Lake Worth.

Another bulk buy oceanfront!!

The Ambassador Palm Beach Hotel & Residences at 2730 South Ocean Boulevard for $87.7 million, as well as the Edgewater House at 2720 South Ocean Boulevard for $48.6 million got sold to  OKO and Cain. Seller Richard Schlesinger, of West Palm Beach-based Copperline Partners, signed off on lease and occupancy assignments for both buildings, and also on a $10.2 million deed for Edgewater House.

The deal gives OKO and Cain ownership of all 97 units at the oceanfront Ambassador Palm Beach, which was built in 1963 and is run as a hotel. The duo also now own all 36 units at Edgewater House, constructed in 1967 along the Intracoastal Waterway.

New York-based MSD Partners, through an affiliate, provided a $105 million mortgage to the buyers, records show.

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