Developer launches sales with Corcoran for planned luxury condo in Delray

Prices at 236 Fifth Avenue start at $500k and go up to more than $1M

Miami /
Sep.September 28, 2017 03:00 PM

Samar Hospitality, a Jericho, New York-based hotel developer, just launched sales with the Corcoran Group for its 35-unit, 236 Fifth Avenue condominium project in Delray Beach.

Samar broke ground last month with plans to build a mixed-use project that will include an adjacent 122-room Aloft Hotel and about 6,000 square feet of retail. Records show Samar, led by Alan Mindel, bought the 1.7-acre property at 202-272 Southeast 5th Avenue for $2.54 million in 2014.

Kaufman Lynn Construction is the contractor. Samar scored $22.5 million in financing from M&T Bank for the project, records show.

Prices at the 236 Fifth Avenue development start at $500,000 and go up to more than $1 million, according to a release. The one-, two- and three-bedroom condos will be on the second through fourth floors of the five-story project, and will range from 955 square feet to about 2,400 square feet.

Corcoran’s Cameron Sydenham and Suzanne Petrizzi are handling sales and marketing. Occupancy is expected in the fourth quarter of 2018, according to the release. Sydenham said the development is currently pouring its second floor, and expects to top-off at the end of the year.

Features at the mixed-use development, designed by Slattery & Associates and ID & Design International, include private parking, banquet space, a club room, pool and fitness center.

Delray Beach, known for its upscale restaurants and small shops along Atlantic Avenue, is seeing growth in its hotel sector.

Hudson Holdings of Delray Beach is planning a 130-room Hilton Canopy at the corner of Southeast First Avenue and Southeast First Street, across the street from historic Sundy House.


Related Articles

arrow_forward_ios
President and CEO at Caron Treatment Centers Doug Tieman with the units. (Google Maps, LinkedIn via Doug Tieman)
Addiction treatment center operator pays $12M for Delray Beach apartments
Addiction treatment center operator pays $12M for Delray Beach apartments
Laurent Morali and Charles Kushner (iStock)
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Rendering of The Linton and Craig Menin
Menin Development wins initial approval for redevelopment of Delray Beach shopping center
Menin Development wins initial approval for redevelopment of Delray Beach shopping center
Dayna Martz & 995 South Ocean Boulevard (Google Maps)
Daughter of late Walmart CEO buys his waterfront Delray Beach home for $8M
Daughter of late Walmart CEO buys his waterfront Delray Beach home for $8M
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Max Weinberg drumming & 1041 Seaspray Avenue, Delray Beach (Getty, Corcoran)
Springsteen drummer Max Weinberg sells Delray Beach home for $5M
Springsteen drummer Max Weinberg sells Delray Beach home for $5M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
arrow_forward_ios

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

Loading...