Jaffe Sports Medicine owner buys Veterans Park floor

BUYER: PJJ Holdings LLC (principal: Peter Jaffe), Naples

SELLER: MKK Holdings LLC

PROPERTY: 1865 Veterans Park Drive, Naples

PRICE: $1.04 million

PREVIOUS PRICE: $1.62 million, July 2004

LAW FIRM ON DEED: Law Office of Antonio Faga, Naples

PLANS, DESCRIPTION: Dr. Peter Jaffe of Naples-based Jaffe Sports Medicine & Rehabilitation purchased the 5,900-square-foot first floor in the Veterans Park Commons condominium for $1.04 million.

The price equated to $176 per square foot.

David Wallace of CRE Consultants represented the seller.

“They are leasing space fairly close by in Cypress Crossing,” Wallace says. “He felt it was a good time to buy as part of their long-range plan. This way they remain close to the hospital, and it allows him to own and design the interior of his own facility.”

The three-story, 27,000-square-foot condominium building was built in 2004.

Calls to Jaffe Sports Medicine & Rehabilitation for comment were not returned prior to deadline.

The purchase entity PJJ Holdings LLC mortgaged the property to Gibraltar Private Bank & Trust Co. for $937,500.