Condo Market Makes Comeback as Palm Beach Development Experiences Brisk Record Sales

Condo Market Makes Comeback as Palm Beach Development Experiences Brisk Record Sales

PALM BEACH GARDENS, FL - The waterfront condominium community of Azure has sold 43 of 46 luxury residences in its first building which is planned to be completed in the fall of this year. Additionally, developer, Tom Frankel reports that 26 of 55 residences in Azure’s final building, introduced to the market just four months ago, have already been sold. Frankel plans to break ground this summer on the final building with delivery of these residences scheduled for late 2017.

A total of $97 million in sales have been recorded at Azure since sales began in November 2014. The prices of residences within the two Azure mid-rise condominiums range from the $900’s to over $3 million. Air-conditioned square footages range from 2,600 to over 5,000 square feet, with additional covered terraces overlooking a yacht harbor.

Frankel attributes the success of the project to its unique location on a deep water yacht basin at popular Donald Ross Road by the Intracoastal Waterway in Palm Beach Gardens, and a pent-up demand for new construction, especially luxury, contemporary condominiums.

Azure’s spacious and sun-filled floor plans were designed by Glidden Spina + Partners together with Frankel and Bob Martin of Decorator’s Unlimited. Residences are sold “move-in ready” with a stellar list of luxury appointments such as custom cabinets, sleek and modern Thermador appliances and polished porcelain tile floors.

Buyers have been a mix of local residents moving from nearby golf club communities, and second home buyers from the Northeast.

Among the surveyed buyers, “views” of the yacht harbor ranked number one. Many also cited Azure’s Intracoastal location in Palm Beach Gardens near the beach and PGA boulevard, and its fresh contemporary design. More than half of the Azure buyers surveyed, have a membership or plan to secure a golf membership at nearby clubs. Twenty percent of the buyers will keep a boat behind their Azure home. All those surveyed ranked highly resort -style amenities and “personalized concierge services” as contributing to their decision to purchase.

The 14-acre Azure community offers two resort swimming pools and spas, a waterfront owner’s café, a putting green, and a state-of-the-art fitness center with steam rooms and saunas. Each building includes a luxuriously appointed lobby, club room, card room, and concierge services.

Source: Azure / #Condos #Florida

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.