First building at Azure condo project nearly sold out

Miami /
Mar.March 12, 2016 12:30 PM

The first phase of the Azure condominium development in Palm Beach Gardens is nearly sold out, and construction is scheduled to finish in the fall.

Developer Tom Frankel told the Palm Beach Post that sales for both phases of Azure, two-five story condo buildings, now total $97 million. Pre-construction sales for both phases of the 101-unit condo development began in November.

Unit prices range from the $900,000s to $3 million. The 14-acre site of the luxury condo development is off Donald Ross Road near the Loggerhead Marina in Palm Beach Gardens.

Sales total 43 units in a 46-unit first building of the Azure project, expected to open later this year, and 26 units in the 55-unit second building. Construction of the second building is expected to start in summer and be completed late next year.

Frankel told the Post that Azure buyers include residents relocating from nearby country club communities, buyers in the Northeast who want a second home, plus a few foreign buyers.

Frankel also told the newspaper that the pace of sales has been robust since January, when stock-market volatility slowed sales. [Palm Beach Post]  Mike Seemuth


Related Articles

arrow_forward_ios
Lone Star Funds founder and chair John Grayken, Discovery Senior Living exec Richard Hutchinson and the Palm Beach Gardens location of Discovery Senior Living. (Discovery, Getty)
Lone Star Funds buys two Palm Beach County senior living complexes for $57M
Lone Star Funds buys two Palm Beach County senior living complexes for $57M
Jacques Barbera and 800 South Pointe Drive (Google Maps)
Bar Invest Group chief sells Apogee condo in South Beach for $8M
Bar Invest Group chief sells Apogee condo in South Beach for $8M
Shahab Karmely, Edgardo Defortuna and Kieran Bowers with Reach and Rise (Getty)
Shahab Karmely, Edgardo Defortuna team up on bulk condo buy at Brickell City Centre
Shahab Karmely, Edgardo Defortuna team up on bulk condo buy at Brickell City Centre
Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Related Group’s Jorge Pérez and his Apogee Beach penthouse. (Related, Douglas Elliman)
Jorge Pérez sells Hollywood penthouse for $6M
Jorge Pérez sells Hollywood penthouse for $6M
ABS National Business Parks manager Gregg Schenker, Stiles CEO Kenneth Stiles and Garden Plaza in Palm Beach Gardens (CBRE, Stiles, ABS)
Stiles sells Palm Beach Gardens office complex for $31M
Stiles sells Palm Beach Gardens office complex for $31M
Miami-Dade condo sales map and Oceana Key Biscayne (Google Maps)
$18M Key Biscayne penthouse leads weekly condo sales
$18M Key Biscayne penthouse leads weekly condo sales
(Google Maps)
Weekly condo sales and dollar volume drop in Miami-Dade
Weekly condo sales and dollar volume drop in Miami-Dade
arrow_forward_ios

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

Loading...