A well-funded New York real estate company has scooped up three Jacksonville apartments complexes for a combined price of nearly $20 million.
Meyer and Joseph Chetrit of New York’s Chetrit Group are both officers of the purchasing company, CF Florida Owner LLC.
The Real Deal calls the Chetrit brothers (there are five) one of New York’s “most powerful and secretive real estate families.”
Joseph Chetrit in 2004 was the lead investor in a group that purchased the 110-story Sears Tower in Chicago (later renamed the Willis Tower) for $840 million.
The Chetrits’ Williamsbury hybrid hotel, a 14-story combination hotel and apartment building, is considered one of the top 10 projects planned in New York. The family holds property in New York, Miami, Chicago and Los Angeles as well as other U.S. and international markets.
The Chetrits’ Jacksonville purchase included the Pine Barrens apartments, 11750 Alden Road, for $7.4 million; the Rivers End apartments, 5520 Collins Road, for $7.7 million; and the Villas at Bridgepoint, 1500 Monument Road, for $4.8 million.
The sites had a common seller, New Jersey-based Empire American Holdings LLC, a private holding company that owns residential and commercial properties across the U.S. and insurance agencies in New Jersey and Florida.
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