Palm Beach dentist sells Singer Island condo dev site for $13M

Singer Island Gateway was planned to have 135 units and a 16-slip marina

TRD MIAMI /
Jul.July 17, 2019 11:30 AM
Rendering of Singer Island Gateway

Rendering of Singer Island Gateway

The site of a planned waterfront condo development in Singer Island sold for $13 million.

The owners of the site for the 135-unit condo project called Singer Island Gateway, at 2525 Lake Drive and 2429 Lake Drive in Riviera Beach’s Singer Island, sold the 1.84-acre property for $161 per square foot, records show.

The seller is tied to Palm Beach dentist Richard J. Lazzara, who is credited with being an innovator in dental implant procedures.

The buyer is Golden Acres Investment LP, which lists its address in Bahamas.

In 2017, Singer Island Gateway Condo received approvals from Riviera Beach to build a 259,800-square-foot, eight-story condo project and a 16-slip marina, and demolish an old condo building currently located on the property. Despite getting approvals, the $55 million condo project never went vertical.

The older condo building, Singer Island Yacht Club, is still located at the site.

It is unclear whether the new buyer will go forward building Singer Island Gateway or something else.

In recent years, developers have been targeting Singer Island for new oceanfront condominiums.

VistaBlue Singer Island, a 19-story tower with 58 units, at 3730 North Ocean Drive was recently completed by Third Palm Capital.

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.

Another condo tower, Amrit Ocean Resort & Residences at 3100 Ocean Drive will consist of an 18-story tower and a 19-story tower named Peace and Happiness with 182 condo units in total.


Related Articles

arrow_forward_ios
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
2138 Bay Avenue, Miami Beach (Credit: Google Maps)

Toronto financier pays $14M for Sunset Islands home

Toronto financier pays $14M for Sunset Islands home
23 Tahiti Beach Island Road and 4965 Southwest 82nd Street

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate
Map of priciest condo sales and Palazzo Del Sol (Credit: Google Maps and Douglas Elliman)

$12M Fisher Island closing tops weekly condo sales in Miami-Dade

$12M Fisher Island closing tops weekly condo sales in Miami-Dade
arrow_forward_ios

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

Loading...