Developers launch sales of Boca Beach House condo project

Condos at 32-unit Boca Raton development are priced from $2.5M to $8M

Miami /
May.May 02, 2019 08:45 AM
Rendering of Boca Beach House

Rendering of Boca Beach House

Nearly two years after closing on a property in Boca Raton, Key International and Integra Investments are launching sales of a luxury condo development planned for the site.

The developers are planning to build Boca Beach House, a four-story, 32-unit project at 725 South Ocean Boulevard. They bought the 3.2-acre waterfront site from the Blackstone Group in 2017 for $17.3 million.

Sales will be handled in-house, according to Liliana Paez, CEO of Key International Sales. Preconstruction prices for the units start at $2.5 million and go up to roughly $8 million, she said. The units will range from two to five bedrooms, and from 3,402 square feet to 7,508 square feet.

Buyers at Boca Beach Club will gain a two-year free membership at the Boca Raton Resort & Club across the street, which includes a Waldorf Astoria Spa, private beach, tennis courts, golf courses, 13 restaurants, seven pools and a kids’ club. Existing members of the Boca Raton Resort & Club, which is reportedly under contract to MSD Partners, are also being given early access to reserve units at Boca Beach Club.

The flow-through condos will have 10-foot ceilings, private elevator access and large terraces with summer kitchens and wet bars. Ground-floor units will feature a private pool.

The project marks the first high-end development on the waterfront in Boca Raton over the previous decade, according to a release. It will also have a private 14-slip marina, water sports amenities, a gym, sauna and steam rooms, and a gazebo with a full kitchen, grill and lounge.

Sieger Suarez Architects is designing the building and Linda Ruderman is handling the interiors. Raymond Jungles is designing the landscaping.

Paez said reservations will be converted to contracts in about two months, and buyers will be required to put down 20 percent deposits when they sign contracts, up to 50 percent at groundbreaking and the rest at closing. She expects the developers will break ground in a year, possibly earlier.

A multimillion-dollar sales center is also expected to be completed in about two months with a full model unit.

Development is ramping up in Boca Raton. Billionaire Michael Dell’s MSD Partners is under contract to purchase the Boca Raton Resort & Club, a 1,047-room, 337-acre resort, from Blackstone by the end of the second quarter.


Related Articles

arrow_forward_ios
Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital)
Lease roundup: Tricera scores tenants in West Palm, Boca
Lease roundup: Tricera scores tenants in West Palm, Boca
From left: MHCommercial Real Estate Fund II's Jordan Paul, Dung Lam and Neil Merin along with the Yamato Office Center in Boca Raton and the Bridge Point Powerline Road in Pompano Beach (NAI Global, LoopNet, Getty Images)
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Candice and Steven Stark with 1371 Royal Palm Way (Getty, Royal Palm Realty)
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
From left: Contrarian Capital's Jon Bauer and Pebb Enterprises' Ian Weiner with Meridian Office Center
Pebb JV buys Boca Raton office complex for $30M
Pebb JV buys Boca Raton office complex for $30M
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
(left to right) Nuveen's Mike Nuveen with 800 Waterford Way and Pebb Enterprises' Ian Weiner with 5355 Town Center Road (CoStar, Nuveen, TVS Design, Pebb)
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
arrow_forward_ios

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

Loading...