The Real Deal Miami

First building at Azure condo project nearly sold out

The 14-acre Palm Beach Gardens development has yielded $97 million in sales so far

March 12, 2016 12:30PM

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Rendering of Azure in Palm Beach Gardens

Rendering of Azure in Palm Beach Gardens

The first phase of the Azure condominium development in Palm Beach Gardens is nearly sold out, and construction is scheduled to finish in the fall.

Developer Tom Frankel told the Palm Beach Post that sales for both phases of Azure, two-five story condo buildings, now total $97 million. Pre-construction sales for both phases of the 101-unit condo development began in November.

Unit prices range from the $900,000s to $3 million. The 14-acre site of the luxury condo development is off Donald Ross Road near the Loggerhead Marina in Palm Beach Gardens.

Sales total 43 units in a 46-unit first building of the Azure project, expected to open later this year, and 26 units in the 55-unit second building. Construction of the second building is expected to start in summer and be completed late next year.

Frankel told the Post that Azure buyers include residents relocating from nearby country club communities, buyers in the Northeast who want a second home, plus a few foreign buyers.

Frankel also told the newspaper that the pace of sales has been robust since January, when stock-market volatility slowed sales. [Palm Beach Post]  Mike Seemuth