Kolter Group and BH Group have paid $102.6 million for a trophy beachfront condominium development site located in Naples, Fla.
The seller was Bahama Club Co-Op.
The property features 220 linear feet of beach frontage in the heart of Naples and is one of the only remaining ultra-luxury beachfront development sites in the state of Florida. It is zoned as-of-right to allow up to 45 condominium units.
Located at 1121 Gulf Shore Blvd. North, the site is within steps of the beach and the 125-acre Naples Beach Club, Hotel and Residences project under the Four Seasons brand. It offers proximity to a wealth of upscale dining options, shops and entertainment options in Old Naples, and the numerous golf clubs and A-rated schools drive significant residen
