Treasure Coast & Palm Beach | Real Estate Blog

Stuart Real Estate Blog - RSS Feed

Dev Motwani reveals plans for luxury condo tower in Pompano Beach

1350 South Ocean Boulevard in Pompano Beach is getting a huge makeover with new beachfront condos. The developer, Dev Motwani, is getting ready to launch a luxury condo tower in Pompano Beach, a quiet beachfront town in Broward County, the developer told The Real Deal.  Motwani plans to launch sales for the 27-story condo building at 1350 South Ocean Boulevard this winter. The 1.7-acre development site is approved for a 92-unit project. Property records show Motwani’s WH Pompano LP paid $11.5 million for the beachfront land in 2011. That purchase included the 4-acre site at 1333 South Ocean Boulevard, where Motwani is partnering with Alliance Residential to build a 211-unit mixed-use apartment development. Bruce Brosch of Nichols Brosch Wurst Wolfe & Associates is designing the condo tower. ...

A final vote to demolish the three-story Profile Art Gallery across Indiantown Road from Harbourside Place and replace it with a five-story building with 15 condominiums, has been postponed and is scheduled to go before the town council on Sept. 19. The photo is of the Profile Art Gallery provided by Bill DiPaolo. The condos would likely start at about $900,000. Plans for the one-acre parcel, called Cornerstone, call for the first floor to be about 2,500 square feet of commercial space. Parking for about 44 vehicles at Cornerstone would be below the building. A public boat dock with about 14 boat slips is planned for the property on the southwest west corner of Indiantown Road and U.S. 1. The plan calls for a pool ...

http://amprorealty.com/vote-on-new-condos-900k-each-on-jupiter-waterfront-is-delayed/

Indian developer revives Singer Island condo project from the last bust

A decade after pulling the plug on an oceanfront condo project on Palm Beach’s Singer Island, Barot is resurrecting the development. During the last condo bust, Barot returned 86 deposits to buyers of his proposed Amrit Ocean Resort & Residences. He held onto the 4.7-acre site at 3100 North Ocean Drive and the property has remained vacant since then. Now, Barot has an on-site sales center for the new project, a 19-story tower and an 18-story tower called Peace and Happiness, according to the Palm Beach Post. It will have 155 hotel rooms, managed by Crescent Hotels & Resorts and 198 condos with prices ranging from the $700,000s to more than $4 million for penthouses. Premier Sales Group is handling sales. The wellness-oriented Singer Island project will ...

West Palm Beach is set for a deluge of new apartments – what will that mean for the rental market?

Three new apartment buildings are scheduled to open within two blocks of each other in downtown West Palm Beach over the next year or so, adding over 800 units to the market in a move that local real estate insiders bet will put downward pressure on rents. At the moment, the downtown West Palm Beach market has a little over 6,700 condominium and rental units, with average rents hovering at about $2.25 per square foot, according to Jeff Greene, a real estate investor and developer who has made a number of big bets on the area and owns over 75 acres of land in the area.  The new buildings would increase the area’s inventory by about 12 percent, Greene said, and unless demand suddenly leaps, ...