The Real Deal Miami

Eden could be banished in Boca

August 26, 2008 04:32PM

The saga of the unfinished Eden condo complex in Boca Raton may soon be resolved. Developer Adam Schlesinger of Ceebraid-Signal in West Palm Beach recently sent letters to remaining unit owners, promising those still waiting for their properties a resolution. The developer may buy back the units and then redevelop the Palmetto Park Road property into luxury rental apartments. The Eden was a condo conversion project gone awry; units were snapped up when sales began more than four years ago, but construction problems stalled the project. Lawsuits and liens piled up from unpaid subcontractors. Then the real estate market turned, prompting existing buyers to get cold feet about going forward with their purchases. Future buyers were scared off by the delays and uncertainty surrounding the project. All told, only about 27 of 212 units closed.