Condominiums – Sold

Jacksonville, FL

Number of Units: 107

Originally built in 1972 as a rental property, Ocean’s Edge has a prime oceanfront location in Jacksonville, FL. A Developer renovated and converted the building to condos in 2006, and in July 2009, CCS acquired 107 unsold units from KeyBank at $94 per square foot after the bank foreclosed the property. The original developer had sold 75 units at an average price of $300,000 ($251 per square foot) before losing the property to the bank. CCS sold out the 107 units at an average price of $180 per square foot and has closed out of the project.