BOCA RATON, FL-Argentinean-based developer Work Leader Corp. is set to begin work on Villa Mare Beach & Yacht Club Residences, a 160-unit condominium conversion project on four acres at 2519 North Ocean Blvd.
The project will consist of the conversion of two five-story buildings with 80 units each. One building is located on the Intracoastal Waterway and one is on the Atlantic Ocean. There are also eight marina slips that are being sold for $85,000 apiece. The architect on the project is Charles H. Benson & Associates, Architects, P.A. The project has an estimated sell-out of $19 million.
Miami-based Fortune International Realty is the exclusive sales and marketing agent on the project. Ricardo Estrazulas, sales director of the project, tells GlobeSt.com that developers are in the process of moving out residents in the building and will begin work shortly. Fifty percent of the units in the building are two-bedroom units with 1,150 sf. There are also one-bedroom units with approximately 700 sf and some two- and three-bedroom units with 1,500 or 1,575 sf. Prices for the units range from the $300,000s to more than $1.5 million. Approximately 25 units have been sold. "The building is priced in the mid-$500s per sf which is almost unheard of for oceanfront property," Estrazulas says.
Among the projects attributes are its location. It is near two national parks, Spanish River Park and James A. Rutherford Park and it is also near Mizner Park, which features upscale retail and restaurants. "It's close to two national parks and there's a great reef on the beach. That, coupled with the price point makes this a great project," Estrazulas says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.