Pa. investor buys 26 condos in West Palm for $5 million
In a sign that bargain hunters are taking advantage of West Palm Beach’s condo glut, the head of a large Pennsylvania-based roofing company has snapped up 26 units at The Edge.
Ed Dunlap, chairman of CentiMark of Canonsburg, Pa., paid $5 million for condos at The Edge, according to a deed recorded this week. Dunlap couldn’t be reached for comment.
Dunlap paid $165 per square foot for the 26 units. To understand how cheap that is, consider that:
# The buyers who closed on 155 units at The Edge in 2007 paid an average of $368 a square foot, and as much as $475 a square foot.