The Real Deal Miami

One Thousand Ocean closes deals totalling $11M

March 19, 2013 10:00AM

One Thousand Ocean and the Boca Beach Club

Boca Raton’s One Thousand Ocean has closed two units totaling approximately $11 million, bringing the building to  91 percent occupancy, according to an announcement today from One Thousand Ocean. LXR Realty handled the deals in-house and Boca Raton-based Premier Estate Properties brought the buyers.

The last available two-story beach villa at One Thousand Ocean closed for $5.15 million, or $1,135 per square foot, the statement said. The property features three bedrooms, four bathrooms, 1,123 square feet of terraces, an elevator, a pool, an outdoor kitchen, and a two-car garage.

The second deal was for a  customizable penthouse that closed for $5.86 million, or $1,415 per square foot, the statement said. That property features 1,450 square feet of terrace, a private elevator lobby, 14-foot ceilings, a private two-car garage and a private cabana.

“All of this activity demonstrates there is a strong market for our product,” Jamie Telchin, president at developer LXR Luxury Resorts & Hotels, said in the statement. “Prospects tour the property, are impressed with what they see, and close quickly for cash. They appreciate the building’s exclusivity and proximity to the resort.” — Christopher Cameron