2800 Georgia Ave, West Palm Beach, FL 33405 For Sale

UNITED STATES BANKRUPTCY AUCTION

Green Terrace Condominium Association Inc. - West Palm Beach, FL

Bid Deadline: April 27,2026 | Auction Date: April 29, 2026 | Auction Subject to Terms of Sale

Fisher Auction & Avison Young, as exclusive advisors to the Trustee, are pleased to present the Green Terrace Condominium Association, Inc. (the “Property”), a residential portfolio within an 84-unit, 13-building condominium community in West Palm Beach, Florida. Green Terrace is situated just south of downtown West Palm Beach within a dense residential pocket along the US-1 corridor. Its location benefits from immediate proximity to a host of retail and amenities including Publix and Amped Fitness, as well as convenient access to Interstate-95 via Belvedere Road.

This offering consists of the Property’s Clubhouse Parcel (±0.32 AC) and any related rights, as well as at least 64 of the 84 condominium units. Ownership of 63 units (75%) is required to proceed towards terminating the condominium association. This presents a unique opportunity to acquire a critical mass of units and capitalize on the offering’s multifaceted redevelopment potential. Groups may pursue a complete redevelopment under the existing MF-20 zoning which allows for 20 du/ac, or leverage West Palm Beach’s Future Land Use (FLU) element which permits up to 32 du/ac. In addition, the city’s Affordable and Workforce Housing Overlay (AWHO) allows for up to 40 du/ac by aligning rents with specific Area Median Income (AMI) thresholds. Alternatively, a full-scale rehabilitation of the existing units and common areas into either rentable apartments or for-sale condominiums can avoid demolition costs and capitalize on the immediate area’s strong residential market.

Regardless of the path a developer chooses to pursue, the favorable long-term fundamentals are clear. Florida ranks first among US states in net migration, and West Palm Beach continues to experience a steady influx of wealthy residents and billions of dollars invested by major groups including Related Ross and Vanderbilt University. Dubbed “Wall Street South,” West Palm Beach has incredible tailwinds propelling it as one of the nation’s strongest-growing cities over the next decade. This is already fueling housing demand, demonstrated by narrow vacancies and lucrative rents as home values hover near all-time highs.