The Real Deal Miami

Palm Beach Shores condo complex 50 percent sold

Units range from $769K to $899K

January 20, 2015 03:15PM

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Rendering of Ocean Eighteen

Rendering of Ocean Eighteen

Ocean Eighteen, an 18-unit boutique condo development in Palm Beach Shores, is reportedly 50 percent sold.

The three-story project, developed by Prodesa U.S., will have oceanfront units of approximately 1,700 square feet priced between $769,000 and nearly $900,000. Sales director John Hodgdon told the Palm Beach Post that nine units have been sold to cash buyers, unlike heavy borrowers from a decade ago.

“They’re spending three-quarters of a million for a second home,” Hodgdon told the newspaper. “In this kind of a market, they’re not concerned about financing.” [Palm Beach Post]Kristina Puga

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