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Posts Tagged ‘delray beach’

  • Communications industry pioneer sells Delray Beach mansion for $15.4M

    House sold for $2.5 million under listing price
    April 17, 2015 01:00PM
    1111 South Ocean Boulevard

    1111 South Ocean Boulevard

    A pioneer of the communications industry recently sold his beachfront estate in Delray Beach for $15.4 million. [more]

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  • Downtown Delray retail buildings sell to Menin Development affiliate for $20M

    Two buildings last sold in 1914
    April 02, 2015 01:15PM
    Howard Bregman and the George Buildings in Delray Beach

    Howard Bregman and the George Buildings in Delray Beach

    An affiliate of Palm Beach-based Menin Development picked up two commercial buildings in downtown Delray Beach for $19.5 million.

    The family owned George Buildings, at 326 and 400 East Atlantic Avenue, were last acquired in 1914, Howard Bregman of Marcus & Millichap told The Real Deal.

    Bregman represented the seller, a South Florida-based family company, Abeleina Properties.

    [more]

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  • Delray Beach office building sells for $20.1M

    Building has been sold five times since 1982
    April 02, 2015 09:45AM
    Mark Corlew and Anuj Grover of Grover & Corlew

    Mark Corlew and Anuj Grover of Grover & Corlew

    A Delray Beach office building was just picked up for $20.1 million — roughly $16 million more than it was last sold for just four years ago.

    The building, at 1625 South Congress Avenue, was purchased by property management company Grover & Corlew.

    Mark Corlew, a principal with the company, told The Real Deal that the firm is planning to spend $500,000 to $1 million on renovations for the building. Then, the company is [more]

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  • Apartments in Palm Beach County sell for $41M

    New owner plans luxury upgrades
    March 30, 2015 09:45AM
    The Vinings at Delray Beach

    The Vinings at Delray Beach

    An Atlanta-based investment firm purchased a 228-unit apartment complex in Delray Beach for $40.5 million, Palm Beach County records show.

    Located at 510 Lavers Circle, The Vinings at Delray Beach is a 5.6-acre complex that was built in 1996.

    The seller, Vinings at Delray Beach Apartments Investors, sold the development to Ps Vinings Owner — a company tied to the Pollack Shores Real Estate Group [more]

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  • Luxury communities, without the golf, on the rise

    742-home Seven Bridges is underway in Delray Beach
    January 19, 2015 02:15PM
    A 4,700-square-foot Seven Bridges home

    A 4,700-square-foot Seven Bridges home

    Back in 2010, Sunrise-based builder GL Homes kept hearing from buyers of all ages that they wanted a country club setting  except without golf, and its fees, ranging from $1,000 to $4,000 a month.

    So GL built The Bridges in Delray Beach, which opened in 2012 —  a 591-home luxury community packed with amenities, minus the golf, and much more affordable monthly dues of $475. [more]

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  • Palm Beach affordable housing project files Chapter 11

    Iberiabank largest creditor for project, which includes a school
    January 15, 2015 12:33PM
    School on 675 Auburn Avenue, Chapter 11 filed Jan. 7

    School at 675 Auburn Avenue

    The developer of a Delray Beach affordable housing project filed Chapter 11 last week.

    Developer Auburn Trace’s largest creditor is Iberiabank, which filed a foreclosure lawsuit in October with a claim of just over $4 million targeting the 157 affordable housing units at 1000 Auburn Circle North, according to published reports. A private school building that is part of the project was also included in the suit. [more]

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  • Construction begins on $26M Palm Beach mixed-use community

    Delray Beach complex will have 146 apartments
    January 13, 2015 11:15AM
    Rendering of Uptown Delray

    Rendering of uptown Delray

    Construction on a $26 million mixed-use apartment community in Delray Beach has reportedly begun.

    Jacksonville Beach-based LandSouth Construction is the contractor on the project, which will have 146 apartments totaling more than 338,000 square feet, according to published reports.

    [more]

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  • Downtown Delray braces for growth

    Nightlife destination already faces noise, traffic congestion
    October 28, 2014 04:30PM
    Downtown Delray Beach

    Downtown Delray Beach

    Officials are exploring ways to balance the impact of Delray Beach’s boisterous nightlife on the city, a critical issue with new development projects on the way.

    The Downtown Development Authority recently met with residents, business owners and city officials to discuss concerns such as excessive noise and lack of parking, according to the Sun-Sentinel. The group discussed how to promote the area as a popular attraction while still protecting the quality of life for residents. [more]

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  • Pair of Delray Beach retail buildings ask $21.5M

    It's the first time the properties have hit the market in 100 years
    October 16, 2014 12:45PM
    The George Buildings

    The George Buildings

    The George Buildings, two adjacent corner retail properties, have hit the market asking $21.5 million.

    Howard Bregman, an associate in Marcus & Millichap’s Fort Lauderdale office, is exclusively marketing the portfolio on behalf of the seller, a South Florida-based corporation.

    It is the first time the property, located on the southeast and southwest corners of Atlantic Avenue and Southeast 4th Street at 326 and 400 East Atlantic Avenue, has been offered for sale in more than 100 years, according to Marcus & Millichap. [more]

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  • GL Homes to sell off another 53 lots

    The firm sold 58 at the Tuscany community site in July
    September 25, 2014 12:45PM
    A home at the Tuscany community

    A home at the Tuscany community

    GL Homes will sell 53 lots the Tuscany community on Atlantic Avenue west of Delray Beach on Oct. 18, the firm announced.

    The Sunrise-based builder sold the first 58 home sites on July 12 in a matter of a few hours, according to the Sun-Sentinel.

    “The response has been fantastic,” GL division president Marcie DePlaza said in an e-mail to the newspaper. “We have quite a bit of pent-up demand again so we are expecting a lottery like last time.” [more]

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