South Florida’s Newest Proposed Condo Tower, the 139th

by Isaac Benmergui, Esq on June 20, 2013

Sunset skylineWith the tricounty real estate market on the upswing, another proposed condo tower could be in the works to be located on a barrier island just north of Boca Raton in Southeast Palm Beach County.

The proposed tower – not yet formally named – will be developed in the 3200 block of South Ocean Boulevard in the town of Highland Beach. Area developers have already proposed 23 buildings with nearly 2,100 units in Palm Beach County. In the larger picture for South Florida, developers have proposed building 18,550 units for the tricounty region of coastal Miami-Dade, Broward, and Palm Beach as of June 16, 2013, according to Cranespotters.com.

The Highland Beach project is designed to stand seven-stories tall and feature 22 units – ranging in size from 2,500 square feet to 3,000 square feet – on the west side of the barrier island just south of Linton Boulevard.

The project’s developer – 3200 Highland Beach Holdings LLC of Litchfield, Connecticut bought the vacant 1.8-acre waterfront site in a distressed property purchase for $2.3 million, which was a 70 percent discount off of the outstanding loan amount at the time, according to the South Florida Business Journal.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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