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

Sep.September 28, 2017 03:00 PM

Cameron Sydenham and renderings of 236 Fifth Avenue (Credit: The Corcoran Group)

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

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Daily Digest Miami

LeBron James’ Unknwn store is opening Dec. 5, Palm Beach Gardens showroom trades for $10M

Walgreens at 3200 South Federal Highway

Walgreens sells Delray Beach store on Federal Highway

Midtown Delray, Todd Rosenberg

Pebb Capital pays $40M for once-named Midtown Delray site

Rendering of Ocean Delray

Ocean Delray nabs $73M construction loan

Photo illustration of Grant Cardone (Credit: iStock)

A look at Grant Cardone’s real estate portfolio and how he raised $15M in 90 minutes at Marlins Park

ABC Carpet & Home

Collier family converting former ABC Carpet & Home in Delray to facility for car collectors

From left: Joseph Maas, Susan Burrell and Paul Burrell of TMT Properties and 190 Congress Park Drive (Credit: Google Maps)

TMT Properties buys Delray Beach offices