Sarasota developers buy Palma Sola Bay Club

BUYER: Prospect Bradenton Investments LLC (principals: Edward Rymer and Mark Filburn), Sarasota
SELLER: Palma Sola Bay Club Development Inc.
PROPERTY: 3400 and 3410 W. 77th St., Bradenton
PRICE: $5.7 million
LAW FIRM ON DEED: Feldman & Roback, Bradenton

PLANS, DESCRIPTION: Two of the developers behind the Golden Gate Point condos and refurbishment of the Holiday Cove RV Park, Edward Rymer and Mark Filburn, purchased the nine-unit Palma Sola Bay Club condominium development for $5.7 million.

The price equated to $633,333 per unit.

According to mortgage documents, the Palma Sola Bay Development site is entitled for 207 condominium units. It currently features 18,006 square feet of residential space, a swimming pool, fitness center and a two-story clubhouse. The purchase also included 2.03 acres of vacant land.

Rymer declined to comment on the new owners' plans for the property as of deadline.

Purchase entity Prospect Bradenton Investments LLC mortgaged the property to Pensam Logistics CF2-V LLC for $3.8 million.