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


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