My Deals in News
Palm Springs Florida Flea Market Sold To Developer
http://www.palmbeachpost.com/
"The old farmers market in Palm Springs, now known as Dr. Flea's International Flea Market, has been sold to Coscan Homes and Vision Development Partners of Fort Lauderdale. Plans are to build 232 upscale townhouses on the 14.5-acre site on Congress Avenue just south of the Trump International Golf Club.
Although the deal has closed, Dr. Flea's operator isn't ready to say goodbye just yet. Hugo Liberti said Dr. Flea's will stay open through the spring or longer, depending on Coscan's construction start.
However long Dr. Flea's does stay open, there's no doubt the end is in sight. Flea markets "are a dying breed," Liberti said.
The Delray Beach Swap Shop on North Federal Highway closed in May after being sold to Paramount Residential, which plans to build a mixed-use project of townhouses, condos, shops and offices. And last week the Margate Community Redevelopment Agency signed a contract to buy the Margate Lakeshore Swap Shop in Broward County.
Continued demand for housing, coupled with sky-high premiums being paid for real estate, are behind the move to sell. Dr. Flea's sold to Coscan for $10.4 million - triple the $3.45'million Liberti and his family originally paid for it."
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