While South American investors continue to dominate South Florida’s high-end, pre-construction market, some 90 percent of the reservations for Palau, a 45-unit South Beach condo building being developed by a fund of family of late Disney executive Roy Disney, have been secured by U.S. citizens, according to sales manager Douglas Elliman.
Miami architect Kobi Karp’s design of the four-story building, where units sell between $500,000 and $2.5 million, replete with panaromic views from rooftop terraces and a suspended glass fitness center overlooking the “secret garden,” is meant to emphasize the bright flight and tropical flora of the natural environment.
A quick jaunt from Miami Beach’s primary shopping on Lincoln Road, Ann Nortmann of Douglas Elliman said buyers were drawn to an increasingly urbane section of the city. “The location is appealing to locals and domestic buyers because Sunset Harbour provides a lifestyle similar to New York City,” she said. –Emily Schmall