The Real Deal Miami

Boynton Beach’s Promenade condo closes first two sales

May 12, 2010 10:06AM

Nine months after construction was completed on the Promenade
condominium in Boynton Beach, the building closed its first two sales, according to Pryse Elam of the New Boston Fund, the equity partner in
the Promenade. The downturn had made investors consider canceling sales at the property, or even converting it to rental apartments. Some buyers had filed suit to return their deposits. Now, however,
the group is committed to selling out the Promenade as a condo project,
Elam said. The complex, which consists of two 14-story towers with 318
condos and 77 hotel units, was initially intended as the cornerstone of
a revitalization of downtown Boynton Beach. [Palm Beach Post]