Palm Beach Gardens development sells $40M in units

Miami /
Feb.February 26, 2015 05:00 PM

Azure, a 14-acre residential community in Palm Beach Gardens, has sold $40 million worth of condos, developer Frankel Enterprises announced Thursday.

Contracts have been signed for 30 of the 46 units made available during the first phase of development. These units will be located in the first planned mid-rise building. Floor plans go up to 4,000 square feet and cost up to $2.3 million, according to a release.

In total, Azure will house 113 luxury units in two four-story buildings. The developer plans to include two resort-style pools and fitness centers, concierge services and a deep-water yacht harbor for boats up to 120 feet for the project, which is on the Intracoastal. Gilbane Construction will begin work in late March, according to the press release.

The community will be situated on Donald Ross Road next to the Intracoastal Waterway.

Frankel Enterprises president Thomas Frankel is planning to larger units — up to 6,000 square feet — in the second phase. He purchased the land where Azure will be built for $10 million in April. The developer has also worked on the Valencia, San Michele and Admiral’s Cove communities in Jupiter. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
(Getty)
Palm Beach County voters approve $200M affordable housing bond
Palm Beach County voters approve $200M affordable housing bond
2169 Driftwood Circle with Frank Seminara (Getty, Michael Laurenzano)
Change up: Pitcher turned financial adviser buys in Palm Beach Gardens
Change up: Pitcher turned financial adviser buys in Palm Beach Gardens
Drawbridge's Jason Elmer with 11757 Elina Court (LinkedIn, Google Maps)
Cybersecurity founder nabs Palm Beach Gardens house for $9M
Cybersecurity founder nabs Palm Beach Gardens house for $9M
PulteGroup’s Brent Baker and the Palm Beach Gardens (Google Maps, Getty)
PulteGroup buys more Avenir home sites in Palm Beach Gardens
PulteGroup buys more Avenir home sites in Palm Beach Gardens
11733 Valeros Court in Palm Beach Gardens with PharmaCord's Nitin Sahney (Google Maps, LinkedIn, Getty)
Healthcare CEO buys Palm Beach Gardens house for $8.8M
Healthcare CEO buys Palm Beach Gardens house for $8.8M
Brick & Timber's Glenn Gilmore and Jesse Feldman with 215 NW 24th Street (LinkedIn, Brick & Timber, Google Maps)
Lease roundup: Brick & Timber, UBS nab tenants
Lease roundup: Brick & Timber, UBS nab tenants
Jennifer Hyland, John Hackett and Pamela Liebman with the new office at 2000 PGA Boulevard in Palm Beach (Corcoran, Getty)
Corcoran opens Palm Beach Gardens office
Corcoran opens Palm Beach Gardens office
Gatsby FL president Babak Ebrahimzadeh and a rendering of 11200 RCA Center Drive in Palm Beach Gardens (LinkedIn/Babak Ebrahimzadeh, Gatsby FL, Getty Images)
Gatsby picks up Palm Beach Gardens mixed-use dev site for $17.5M
Gatsby picks up Palm Beach Gardens mixed-use dev site for $17.5M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...