Riteway Investments buys Seminole Avenue apartments

Riteway Investments buys Seminole Avenue apartments

BUYER: Riteway Investments LLC (principals: Celestino and Gustavo Marrero), Hollywood

SELLER: Bayview Loan Servicing LLC

PROPERTY: 3555 Seminole Ave., Fort Myers

PRICE: $120,000

PREVIOUS PRICE: $330,000, July 2002

TITLE FIRM ON DEED: Fidelity National Title Insurance Co., Fort Myers

PLANS, DESCRIPTION: Celestino and Gustavo Marrero, the owners and founders of Hollywood-based insurance-focused building contractor Riteway Insurance Repair Service Inc., purchased an 11-unit apartment building north of Palm Beach Boulevard for $120,000. The purchase price equated to $12,000 per unit.

Frank Szelest of Re/Max Realty Group Commercial Division represented the seller, and Mike Komar of Leffler & Associates represented the buyer.