Resale of One Thousand Ocean residence nets $5.8M

Apr.April 10, 2013 03:00 PM

A unit at One Thousand Ocean in Boca Raton has sold to an undisclosed buyer for $5.8 million, according to a statement yesterday from Douglas Elliman’s Senada Adžem, who brokered the sale. At $1,425 per square foot, the unit netted the highest resale value at the LXR Luxury Resorts-developed project for a home re-sold in less than 190 days, the statement said. 

Adžem represented both the buyer, whose identity was not disclosed, and the seller, De Jong Boca Beach Club, in the deal.

Resales may soon be the only option for those looking to buy a condominium, penthouse or beach villa at the seven-story building, which hit the market in 2010. One Thousand Ocean’s website reports that this will be the final selling season at the building and that only four sponsor residences remain.

“A unique location such as this, at the tip of a private peninsula surrounded by water on three sides, is a highly desirable one,” said Jamie Telchin, president of LXR, in the statement. —Evan Bleier

CORRECTION: An earlier version of this article incorrectly identified the unit as one of the final sponsor units and a quick flip. In fact, the seller bought the unit in 2007, lived there and just sold it.

Related Articles

From left: Howard Sands, Scott Tracy, and Kenton Wright

Walgreen sells store near Boca Raton for $9M

Shane Neman, and Mauricio Bello Richard Waserstein, with 525 Northwest 77th Street Marriott in Boca

Blackstone sells Marriott hotel in Boca Raton

Malcolm Butters, 950 Peninsula Corporate Circle in Boca Raton

Butters buys Boca Raton office building

A rending of the the project

REI to open first South Florida store in Boca Raton

Royal Palm Residences and Ignacio Diaz

Group P6 launches sales of new luxury condo project in Boca Raton

University Park and Square Mile Capital CEO Craig Solomon (Credit: Zillow)

Boca Raton student housing scores $71M refi

Rooms to Go CEO Jeffrey Seaman and 9465 Glades Road (Credit: Google Maps)

Rooms To Go CEO bags furniture store in Boca Raton

484 South Maya Palm Drive (Credit: Royal Palm)

Transportation exec buys Boca home for $12M