Amid lagging sales, Compass hired for Amrit condo project on Singer Island

Sales for "Peace" and "Happiness" towers — relaunched in 2017 by an in-house team — stand at 20%

TRD MIAMI /
Mar.March 15, 2019 04:30 PM

Beth Butler and Dilip Barot with a rendering of Amrit Ocean Resort & Residences

With just a fraction of its condos pre-sold, Amrit Ocean Resort & Residences hired Compass to handle sales and marketing of the relaunched project under construction on Singer Island.

Developed by WRS Development, LLC, an affiliate of Dilip Barot’s Creative Choice Group, Amrit Ocean Resort & Residences will consist of an 18-story tower and a 19-story tower named Peace and Happiness. There will be 182 condo units in total. The oceanfront project at 3100 Ocean Drive in Riviera Beach has topped off and is set to be completed in the first quarter of 2020, according to a spokesperson. Compass’ development division was brought in.

Amrit relaunched sales in 2017, a decade after Barot had pulled the plug on the previously planned development. An in-house team has been handling sales, which currently stand at 20 percent, the spokesperson said. Prices for the units, including 11 penthouses with rooftop terraces, range from the $900,000s to more than $4 million.

During the last recession, Barot returned 86 deposits to buyers of his previously planned Amrit Ocean Resort & Residences. But he held onto the vacant site and began construction in 2017.

The condo development is aimed at “mindful living,” focusing around nutrition, fitness, mindfulness, sleep and relaxation. The project plans to feature resort amenities such as an Aayush Spa, fitness center, salon, oceanfront fitness zone and beachfront spa and pool.

In recent years, developers have been targeting Singer Island for new oceanfront condominiums. VistaBlue Singer Island, a 19-story tower with 58 units, was recently completed by Third Palm Capital; and 5000 North Ocean, is currently under development by Kolter Group. The 19-story, 48-unit condo project is expected to be completed later this year.


Related Articles

arrow_forward_ios
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
Rendering of 259 Pendleton Ave. with Jonathan Fryd, Todd Glaser and Scott Robins (Glaser by Mary Beth Koeth)

Todd Glaser, partners buy Palm Beach lot to build spec home

Todd Glaser, partners buy Palm Beach lot to build spec home
920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

Cable mogul buys waterfront Palm Beach home for $16M

Cable mogul buys waterfront Palm Beach home for $16M
Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor)

Bon Jovi pays $43M for oceanfront Palm Beach estate

Bon Jovi pays $43M for oceanfront Palm Beach estate
Jon Bon Jovi and 230 North Ocean Boulevard (Credit: RE/MAX and Theo Wargo/Getty Images)

Jon Bon Jovi sells oceanfront Palm Beach house

Jon Bon Jovi sells oceanfront Palm Beach house
arrow_forward_ios

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

Loading...