X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

LANTANA, FL-South Miami-based Lehman Development Group Inc. expects to begin work in early 2007 on the 15-unit St. John’s Villas project at 106 Northlake Dr. The project has an estimated sell-out of $25 million, Lehman partner Steven Scheinberg tells GlobeSt.com.

Located on the Intracoastal Waterway facing the Ritz Carlton Beach Resort, the project will feature a four-story building with four units on the first three floors, two penthouse units and a courthouse unit. The units will range in size from 2,736 sf to 3,912 sf. The two penthouse units will include a boat slip. The project will also include 150 ft. of private beach, a 140-ft. dock with slips that can accommodate boats up to 35 ft., swimming pool and spa. The project is expected to be completed in first quarter 2008, Scheinberg says.

Architects on the project are Siskind, Carlson & Partners P.A. Preconstruction prices for the units range from $1.4 million to $2.5 million. Scheinberg says sales efforts began recently and one unit has been sold.

Among attributes of the project is its location, which is in close proximity to Worth Avenue, the Ritz Carlton Beach Resort, CityPlace, Clematis Street and the Kravis Center. It is also less than 30 minutes away from Palm Beach International Airport. Another attribute is the views. “By virtue of the way our property sits, it’s angled to give a wide perspective,” Scheinberg says. “Our residents will be able to look out over the waters of the Intracoastal.”

The project will include a back-up generator system to power lights, air conditioning and kitchen appliances in the event of a power outage, he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.