The Real Deal Miami

Pordes Residential takes over sales of Bay Harbor Islands project

Palm Villas is 36 percent sold
By Katherine Kallergis | October 04, 2018 01:45PM

Rendering of Palm Villas and Adam Kaufman

Pordes Residential is taking over sales of a boutique townhouse development in Bay Harbor Islands as it nears completion.

Land Developers Group hired the brokerage to handle the remaining nine townhomes, which is about 64 percent of the 14-unit Palm Villas project at 9870-9880 East Bay Harbor Drive. It launched sales in 2016, and has only sold five townhouses since then.

Over the past year, Pordes Residential was also brought in to take over sales and marketing by the project developers of KAI Residences, 101 Bay Harbor and Bijou Bay Harbor, all in Bay Harbor Islands.

The brokerage, led by Mark Pordes and Adam Kaufman, plans to reach out to buyers in the Northeast and Canada.

“The market in general has been a little slow, but there definitely are sales here,” Kaufman said.

It’s not uncommon for a developer to change its sales team during a slow period in the cycle. Land Developers Group was previously working with a number of agents to sell the project. When it launched sales two years ago, One Sotheby’s International Realty and the Faerman Group were handling sales and marketing. 

The pricing for Palm Villas will remain about the same, Kaufman said. Units range from $1.2 million to about $1.5 million, and in size from 2,300 square feet to about 3,000 square feet. They’ll all be completed by mid-November.

The townhouses will have between three and five bedrooms, and feature rooftop terraces, a hot tub, 10-foot ceilings and private elevator entrances. Equipo 18, an Argentinian firm, is designing the project.

Property records show Land Developers Group affiliate Bay Harbor TH I LLC paid a combined $2.5 million for the 25,000-square-foot development site in 2013.

A number of projects are in the pipeline in Bay Harbor Islands, and Congress Group launched sales of Opus Bay Harbor, a waterfront condo complex, earlier this year. Congress Group hired Compass to handle sales of the project in April.