Developer Eric Soulavy purchased Marina Inn in the Ocean Reef community in Key Largo for $20 million with plans to redevelop the site into 30 luxury condominiums.
The transaction, which closed Oct. 24, marks the biggest this year in the exclusive resort club community of Ocean Reef, according to Russell Post Sotheby’s International Realty, which represented both sides in the deal.
The three-acre site, which boasts 750 feet of waterfront, currently has eight two-bedroom rental units, Post said in a statement.
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