National Realty Investment Advisors from Secaucus, New Jersey has closed on the purchase of a waterfront development site in Palm Beach for $7.05 million. Located at 1248 and 1240 Seaspray Avenue, the 38,330 square foot double lot changed hands for just over $183 per sqf. The purchase was secured with a $3.9 million mortgage from Miami-based real estate lender BridgeInvest. The seller, Los Angeles-based private equity firm Kayne Anderson Real Estate Advisors, bought the two sites for a combined $4.2 million in 2013.
