NY Investor Buys Downtown Parking Lot at $95/SF – HUH ?

A New York hedge fund investor, Och-Ziff Management Group, has purchased a 1.55-acre site with a surface parking lot on it, across from the Omni Hotel, at a reported $6.4M, or some $95/SF.  I can’t (yet) explain it, but that is what is reported by Andrew Thurlow of The JAX Business Journal.

UPDATE:  an insider says it apparently was part of a larger portfolio of multiple parking lots across the nation; not sure where the allocation on the pricing came from…

About scottrogersjax

30 years' in commercial real estate investment sales, banking, mortgage banking, and valuation. Trained and schooled in Atlanta, and now heading the Investment Sales Team in the Colliers Jacksonville office.

Posted on May 2, 2015, in Downtown, JAX Business Journal, Land, Transactions and tagged , , . Bookmark the permalink. Leave a comment.

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