Tag Archives: investments

IBRE and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

Ian Black Real Estate and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

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Sean Dreznin sells apartments

Sean Dreznin sells apartments

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Sean Dreznin successfully closes the sale of 2 additional apartment buildings in St. Petersburg, FL

Sean Dreznin from Ian Black Real Estate successfully closed the sale of 2 additional apartment buildings in St. Petersburg, FL

Queen Anne Apartments in St. Petersburg, FL, SOLD by NAI Tampa Bay's Multi-Family team, Kyle Keelan and Sean Dreznin

Queen Anne Apartments in St. Petersburg, FL, SOLD by Sean Dreznin

Sean Dreznin simultaneously closed the purchase and sale of The Casa Grande Apartments and the Queen Anne Apartments this past week.

Led by Sean Dreznin, the 22-unit Casa Grande and the 18-unit Queen Anne seamlessly closed.

The buyer was completing a 1031 exchange and the sellers had enhanced and stabilized the property before bringing it to market.

Please contact Ian Black Real Estate and the multi-family team for all your Apartment and Investment Goals!

Sean Dreznin – (941) 961-8199 sean@ian-black.com

SOLD * SOLD * SOLD - We can sell yours, just ask Sean Dreznin or Kyle Keelan @ NAI Tampa Bay

SOLD * SOLD * SOLD – We can sell yours, just ask Sean Dreznin

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TerraCap Mgmt Corp Acquires Sarasota Office Bldg

TerraCap Mgmt Corp Acquires Sarasota Office Bldg

By David Davis
March 5, 2014

Pic via CoStar, presented by Sean Dreznin

Pic via CoStar, presented by Sean Dreznin

88,000-SF Investment Trades for $11.5M

TerraCap Management Corp., a Florida-based company, acquired the 10-story office building at 1 S. School Ave. in Sarasota, FL from Y Associates Ltd and the Sarasota Family YMCA for $11.5 million, or about 130 per square foot.

The 88,178-square-foot, 4-Star office building was constructed in 2000 on 2.4 acres in Sarasota County. The asset is almost 80 percent leased to multiple tenants, and includes a four-story covered garage with 240 stalls.

As part of the sale, the buyer assumed an existing $7.82 million loan secured by the property with a 5.5% fixed rate through October 2015.

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Bradenton apartment units sold for $65,000 per unit

Bradenton apartment units sold for $65,000 per unit

By Michael Braga , Herald-Tribune / Monday, February 24, 2014

Mil & Ros Investments Inc., an Osprey company managed by Mats G. Rosander, sold 16 apartment units in four buildings at 4540 19th St. Circle W in Bradenton to Forth Worth, Texas resident Charles Bamberger for $1.04 million, or $65,000 per unit.

Rosander’s company paid $775,000 for the four-building complex in June 2007.

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NAI Tampa Bay sells 605 Unit Class A Condo Portfolio for $54,000,000

NAI Tampa Bay sells 605 Unit Class A Condo Portfolio for $54,000,000

Crosswynde Condo Complex sold by NAI Tampa Bay

Crosswynde Condo Complex sold by NAI Tampa Bay

Crosswynde

NAI Tampa Bay sells 605 Unit Class A Condo Portfolio for $54,000,000

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Prime Land in Sarasota, FL FOR SALE ** Motivated Seller ** MAKE OFFER

Prime Land in Sarasota, FL FOR SALE ** Motivated Seller ** MAKE OFFER

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Contact Sean Dreznin to get started on your new building!!

Contact Sean Dreznin to get started on your new building!!

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Census: More renters than buyers

Census: More renters than buyers

Phillippi Shores Apartments - - Contact Sean Dreznin at NAI Tampa Bay for more information.  DO NOT DISTURB MGMT OR TENANTS

Phillippi Shores Apartments – – Contact Sean Dreznin at NAI Tampa Bay for more information. DO NOT DISTURB MGMT OR TENANTS

By Zac Anderson
Via Herald Tribune

North Port’s adult population has become less educated overall. Home ownership is down in Sarasota. More Hispanics are moving to Bradenton. Venice has been remarkably recession proof.

New Census data released Thursday shows Southwest Florida’s cities have changed in ways big and small since the onset of the Great Recession.

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Some of the trends are obvious: Poverty spiked in most local cities in recent years. But other changes are more subtle, revealing little-noticed undercurrents in the region’s demographics and economy.

The Census survey of communities with more than 20,000 residents includes new population, housing and economic data for Sarasota, North Port, Venice and Bradenton. Because of the smaller population sizes, the Census combines three years of survey data to arrive at the figures.

The latest release covers the years 2010 through 2012 as the economy hit bottom and began to climb back. Each local city experienced significant changes when compared with the previous three years, which spanned the onset of the recession in 2007 through 2009.

Here are some trends Census experts consider statistically significant in each city.

For Rent

Sarasota’s rate of home ownership historically has been among the lowest in the county, thanks to a large stable of rental properties and greater concentrations of young people who have yet to settle down.

While more than 70 percent of homes in North Port and Venice are owner occupied — rates that have not changed since the downturn — that figure was just 61 percent in Sarasota at the start of the recession.

The last three years have driven even more Sarasota residents into the rental market. Now, 54.5 percent of city’s housing units are occupied by their owner.

Landlord Harvey Vengroff said the occupancy rate for his 1,400 rental units went from a low of around 70 percent during the recession to more than 95 percent this year.

Apartments For Sale -- Contact Sean Dreznin for more information.

Apartments For Sale — Contact Sean Dreznin for more information.

“I see the demand as being strong and getting stronger” for rentals, Vengroff said.

Median rental rates in the city had been dropping — from $1,010 in the early years of the downturn to $890 in the latest Census release — but Vengroff sees that trend reversing. He recently raised rates at two buildings, one near Sarasota Memorial Hospital and another on Central Avenue.

“If you’ve got people waiting, the next guy pays more,” he said.

“I think there’s still a big need, or a fair amount of need, for affordable housing,” he said.

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