Forest Development

What Forest Development does

Forest Development is a privately held Florida-based real estate developer founded in 2014, specializing in waterfront mixed-use developments in or adjacent to growing Florida cities. The company acquires and develops undervalued waterfront properties, transforming them into luxury mixed-use communities combining condominiums, restaurants, retail, and marina facilities. Its flagship project is Nautilus 220, a 1.15 million square foot development in Lake Park, Florida, featuring 330 condominium residences across two 24-story towers with over 90% of units pre-sold at prices from $1.3 million to over $4 million.

Forest Development generates revenue through three primary streams: direct sale of luxury condominiums, leasing of retail and restaurant spaces, and land acquisition and development. The company operates through strategic partnerships such as Royal Palm Companies for Nautilus 220 co-development and Vylla Title for exclusive title and escrow services. Its geographic footprint spans both the east and west coasts of Florida, with active projects including Nautilus 220, Gulf Gateway Resort & Marina Village at 7 Islands, and proposed Riviera Beach developments including a 20-story, 335-apartment project at 1851 Broadway and a 12-acre Marina Village waterfront redevelopment.

The company is led by founder and Managing Partner Peter Baytarian, with prior experience managing two New York firms and developing over 150 residences in Cape Cod. Other leadership includes COO Justin Morrow (20+ years of Florida real estate experience totaling over $1 billion), CFO Andrew Karmeris (13+ years of specialized finance experience including work with Community Development Districts), and senior VPs Sam Bauer and Farid Jazouli with 40+ years of experience each in development and construction. Forest Development has no proprietary technology platform, AI/ML capabilities, or disclosed patents, and its core differentiator is land acquisition expertise in emerging Florida waterfront markets.

Name

Forest Development

Legal name

Forest Development

Website

https://forestdevelopment.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Forest Development is a privately held Florida real estate developer that acquires undervalued waterfront properties and transforms them into luxury mixed-use communities. Its flagship Nautilus 220 project features 330 condominiums with over 90% pre-sold at $1.3M-$4M+ price points.

Ownership category

akta.pro rank

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Luxury Condominium Sales: Forest Development generates primary revenue from the sale of luxury condominium units. Nautilus 220 achieved over 90% of condominiums sold at prices from $1.3 million to over $4 million, with the 325-unit residential community having an average unit price of approximately $2.5 million.
2. Retail and Restaurant Leasing: Revenue from leasing retail and restaurant spaces within mixed-use developments. Nautilus 220 includes two restaurants (SeaHawk Prime by David Burke and The Birdie Dockside Bar & Grill), along with retail and office suites.
3. Land Acquisition and Development: Revenue generated through acquisition and development of undervalued waterfront properties, adding value through mixed-use development projects.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Forest Development acquires and develops undervalued waterfront properties in or adjacent to growing Florida cities, creating luxury mixed-use developments that combine high-end residences, dining, retail, and marina facilities. Their flagship Nautilus 220 is a $450 million, 1.15-million-square-foot development featuring two 24-story towers with 330 luxury condominiums priced from $1.3M to $4M+, alongside a marina, restaurants, and retail.

Product overview

Forest Development is a multi-faceted real estate development company that acquires and develops undervalued, primarily waterfront properties in or adjacent to growing cities in Florida. The company's diversified investment strategy includes mixed-use, multifamily, luxury condominiums, hotels, retail, restaurants, and marina developments. The product portfolio consists of completed developments (Nautilus 220), under development projects (Gulf Gateway Resort & Marina Village at 7 Islands), and proposed projects (Riviera Beach Marina Village). The company operates through strategic partnerships and adds value through entitlement, construction, and property management capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Nautilus 220: Luxury mixed-use waterfront development featuring 330 condominium residences in two 24-story towers with waterfront dining, retail, and office suites at 220 Lake Shore Drive in Lake Park, FL.
• Gulf Gateway Resort & Marina Village at 7 Islands
• Oculina

Products and services

• Nautilus 220 Flagship luxury mixed-use waterfront development featuring two 24-story towers with 330 luxury condominiums priced from $1.3M to $4M+, alongside a marina, restaurant spaces, and retail. Located at 220 Lake Shore Drive, Lake Park, FL. Spans 1.15 million square feet at a $450 million project value.
• Gulf Gateway Resort & Marina Village at 7 Islands Luxury waterfront resort and marina village mixed-use development under development on Florida's West Coast, featuring residential, hospitality, and marina components.
• Oculina Named waterfront development project in Forest Development's portfolio with a dedicated project website.
• Riviera Beach Marina Village Proposed mixed-use waterfront development project in Riviera Beach, Florida, including marina village components.
• 1851 Broadway Development Proposed development project at the 1851 Broadway location within Forest Development's portfolio.

Quantifiable outcome

• Nautilus 220 achieved over 90% of condominiums sold before completion
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and major.

• Royal Palm CompaniescoreStrategic or Co-development Partner · 25 March 2026Royal Palm Companies collaborated with Forest Development on the Nautilus 220 luxury mixed-use waterfront development in Lake Park, Florida. This was a co-development partnership for the 1.15-million square foot project featuring 330 residences in two 24-story towers.
• Vylla TitlemajorOthers · 1 December 2025Vylla Title was selected as the exclusive title and escrow provider for Forest Development's Nautilus 220 luxury condominium project. Vylla Title's advanced technology including robotic process automation and machine learning enabled rapid transaction processing, completing over 200 closings including 100+ units within a single month during the 2025 holiday season.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Aria Development Group: Miami-based luxury condo developer with waterfront and high-rise projects in Florida. Highly comparable on luxury condo product, Florida geography, and privately-held developer profile.
• Related Group: Florida's largest luxury condominium and mixed-use developer, with deep waterfront project pipeline across South Florida. Directly comparable to Forest Development in product type (luxury condos), target buyer (high-net-worth Florida migrants), and waterfront land-acquisition strategy.
• Terra: Miami-based luxury residential and mixed-use developer focused on waterfront and urban infill sites in South Florida. Comparable product offering (luxury condos, mixed-use) and buyer profile, with overlap in Florida waterfront acquisition strategy.
• Fortune International Group: Long-established Florida luxury waterfront condo developer (e.g., Jade Signature, Ritz-Carlton Sunny Isles). Highly comparable to Forest Development on product type, buyer segment, and waterfront condo strategy, though with more geographic breadth.
• Kolter Group: Florida-based developer of luxury waterfront residential and mixed-use projects across the state. Closely comparable to Forest Development in Florida-only geographic focus, luxury condo product, and waterfront site selection in emerging submarkets.
• Two Roads Development: Florida-based residential developer with luxury condo and mixed-use projects. Comparable in Florida geographic focus, residential product mix, and mid-sized private developer profile to Forest Development.
• Crescent Heights: National luxury high-rise residential developer with significant Florida waterfront condo exposure (e.g., Porsche Design Tower, Aston Martin Residences). Directly comparable on luxury condo product type and high-net-worth buyer demographic.
• Merrimac Ventures: Florida-focused real estate developer with mixed-use, multifamily, and hotel projects. Comparable on Florida geographic focus, mixed-use product type, and emerging-market submarket selection.

Broad incumbents

• Related Companies: Large national real estate developer with luxury residential, mixed-use, and hospitality arms including significant Florida exposure. Comparable product breadth and luxury positioning, though operates at much greater scale and geographic diversity.
• Royal Palm Companies: Established South Florida real estate development firm that co-developed Nautilus 220 with Forest Development. Highly comparable business model (luxury mixed-use, waterfront focus) and directly engaged as Forest Development's strategic partner.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/forest-development-fl

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forest Development