Nassi says the most demand is for units priced at about $385,000. Units range in size from 781 sf to 4,004 sf for a penthouse.
The project includes 60,000 sf of retail. The retail includes a 28,000-sf, two-level fitness center, and an 8,500-sf local gourmet supermarket. The project also will include a rooftop swimming pool with a swim-up bar and hot tub, restaurants, dry cleaner, wine shop, hair salon, coffee shop and bakery.
The Beauvallon will have underground parking for 600 cars, a 24-hour front desk attendant and concierge, and valet service.
Lehman Brothers is providing mezzanine financing, Nassi says. "The construction lender is a big national bank and we're just finishing up the paper work," Nassi adds. Swinerton Builders, the 15th-largest general contractor in the US, is building the project.
The project will be completed in 19 months, Nassi says.
This is Nassi's third high-rise condo in the Golden Triangle. It joins the Belvedere Tower, which is completed, and the Prado, which is under construction. All three share European-style architecture.
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