The Real Deal Miami

Douglas Elliman takes over sales at Akoya Boca West

$190M, 139-unit building is about 30 percent under contract
By Katherine Kallergis | May 30, 2017 12:30PM

Rendering of Akoya Boca West. Inset: Jay Phillip Parker and Richard Siemens

Siemens Group hired Douglas Elliman to handle sales of Akoya Boca West, a luxury condo building under construction at the Boca West Country Club and secured registration to market and sell the project in New York.

The 139-unit, nine and 10-story luxury condo building is about 30 percent presold, Elliman Florida CEO Jay Phillip Parker said. Siemens, which was previously handling sales in-house, brought on Elliman for its reach into the Northeast, including Long Island, Connecticut and New Jersey, Parker said. Reservations were converted to contracts with no fallout, he said.

Siemens completed the foundation for Akoya Boca West in the fall and is aiming for an early 2018 delivery date. The country club spans 1,400 acres with about 400,000 square feet of club facilities and amenities, including a sports complex, clubhouse, a 38,000-square-foot spa, tennis facilities, dining and entertainment venues, and four 18-hole championship golf courses.

The building will be the first new residential development at Boca West in about 20 years. Developer Richard Siemens previously said Akoya would have a roughly $190 million sellout.

Units will range from two to five bedrooms and from 1,800 square feet to about 4,500 square feet. Parker said the project is geared toward empty nesters from South Florida and the Northeast, families, and older buyers in their 50s or 60s.

Prices range from about $895,000 to more than $3 million. Unlike in Miami-Dade, the project is requiring deposits of 25 percent rather than 50 percent.

In Miami-Dade, Douglas Elliman recently lost the exclusive sales and marketing of 6080 Collins Avenue Beach House, a boutique condo-hotel in Miami Beach, to Compass.