The Real Deal Miami

Resale of One Thousand Ocean residence nets $5.8M

April 10, 2013 03:00PM

One Thousand Ocean

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.