Skymark Real Estate Investments buys 88 lots in Summer Chase

BUYER: Summer Chase Builders LLC (principal: Stanley Markofsky), Fort Lauderdale
SELLER: Dune FL Land I Sub LLC
PROPERTY: 16354, 16351, 16346, 16345, 16338, 16337, 16330, 16329, 16324, 16316, 16315, 16308, 16307, 16302, 16301, 16254, 16253, 16248, 16245, 16242, 16236, 16228, 16220, 16214, 16206, 16200, 16154, 16148, 16142, 16134, 16126, 16120, 16119, 16114, 16113, 16108, 16102, 16056, 16050, 16044, 16036, 16033, 16030, 16022, 16016, 16008 and 16000 Vine Cliff Ave., 11914, 11906, 11903, 11852, 11844, 11843, 11836, 11835, 11828, 11827, 11820, 11819, 11812, 11811, 11804, 11754 and 11750 Sutter Gate Loop and 11801, 11800, 11807, 11730, 11724, 11706, 11641, 11623, 11610, 11607, 11604, 11601, 11554, 11551, 11548, 11543, 11540, 11539, 11536, 11529, 11528, 11521, 11520 and 11515 Sunder Berry St., Hudson
PRICE: $1.45 million
PREVIOUS PRICE: $7.54 million, October 2011 (included additional property)
LAW FIRM ON DEED: Strohauer Mannion & Son PA, Clearwater

PLANS, DESCRIPTION: Fort Lauderdale-based Skymark Real Estate Investments purchased 88 single-family home lots west of Suncoast Parkway and north of Hudson Avenue in Pasco County for $1.45 million.

The price equated to $16,500 per lot.

The finished home lots are located in the Summer Chase community.

Bill Eshenbaugh and Chris Bowers of the Eshenbaugh Land Co. represented the seller.

“There were 30 to 40 homes built in there by Maronda [Homes] and Morrison [Homes] when things shut down during the real estate crash,” Eshenbaugh says. “The community's been sitting since around '06.”

Eshenbaugh says the seller felt the community was too small to hold in its portfolio. In addition, the buyer paid cash for the property.

Skymark Real Estate Investments is a real estate investment and development consulting firm specializing in East Coast properties. Its website reports the company currently has several projects in various stages of development in Florida and Maryland with a combined portfolio of $150 million.