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%

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
Matt Sellick, president, Stock Luxury Homes, in front of 916 South Ocean Boulevard (Stock Luxury Homes, Zillow, iStock)
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Todd Michael Glaser (Photos by Sonya Revell)
The Closing: Todd Michael Glaser
The Closing: Todd Michael Glaser
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
Private equity honcho buys renovated Palm Beach mansion for $36M
Private equity honcho buys renovated Palm Beach mansion for $36M
Private equity honcho buys renovated Palm Beach mansion for $36M
1700 S Ocean Blvd, Palm Beach (Realtor)
Oceanfront Palm Beach spec mansion sells for $41M
Oceanfront Palm Beach spec mansion sells for $41M
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
arrow_forward_ios

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

Loading...