New Developments in the Market
South Florida's luxury real estate market is abuzz with new developments and sales. In West Palm Beach, Anthony Solomon's Ronto Group has launched sales for the Nora House, a planned 11-story, 117-unit condo project in the Nora District. The project, which is set to start construction next year and finish in 2029, will feature units ranging from 1,500 to 2,900 square feet, with prices between $2 million and $6.5 million.
Recent Sales and Trends
In Miami Beach, a waterfront double-lot on the Venetian Islands sold for $24.5 million, with plans designed by SAOTA for an 11,000-square-foot mansion. The property, previously tied to developer Zach Vella, was sold with 120 feet of water frontage and views of downtown Miami.
In Delray Beach, a mansion at 733 North Ocean Boulevard sold for $19.2 million. The buyer was a trust tied to Maurice and Christina Sciammas, with the seller being Edward Farscht, CEO of wireless communications infrastructure firm Diamond Communications, and his wife, Lynn Jaeger.
What It Means for the Market
The recent sales and new developments in South Florida's luxury real estate market indicate a continued demand for high-end properties in the region. The Live Local Act, which was expanded by Florida lawmakers, is also expected to boost the market by incentivizing multifamily developers to set aside at least 40 percent of their units to households earning up to 120 percent of the area median income.
Key Numbers
- $2 million to $6.5 million: Price range for units at the Nora House condo project
- $24.5 million: Sale price of the waterfront double-lot on the Venetian Islands
- $19.2 million: Sale price of the mansion at 733 North Ocean Boulevard in Delray Beach
What Comes Next
As the luxury real estate market in South Florida continues to evolve, it will be interesting to see how the Live Local Act and other developments impact the market. With new projects and sales on the horizon, the region is likely to remain a hub for luxury real estate activity.
Key Facts
- What: New condo launches, multi-million dollar sales, expansion of the Live Local Act
- When: Recent sales and developments in 2023
- Impact: Continued demand for high-end properties, potential boost to the market from the Live Local Act
New Developments in the Market
South Florida's luxury real estate market is abuzz with new developments and sales. In West Palm Beach, Anthony Solomon's Ronto Group has launched sales for the Nora House, a planned 11-story, 117-unit condo project in the Nora District. The project, which is set to start construction next year and finish in 2029, will feature units ranging from 1,500 to 2,900 square feet, with prices between $2 million and $6.5 million.
Recent Sales and Trends
In Miami Beach, a waterfront double-lot on the Venetian Islands sold for $24.5 million, with plans designed by SAOTA for an 11,000-square-foot mansion. The property, previously tied to developer Zach Vella, was sold with 120 feet of water frontage and views of downtown Miami.
In Delray Beach, a mansion at 733 North Ocean Boulevard sold for $19.2 million. The buyer was a trust tied to Maurice and Christina Sciammas, with the seller being Edward Farscht, CEO of wireless communications infrastructure firm Diamond Communications, and his wife, Lynn Jaeger.
What It Means for the Market
The recent sales and new developments in South Florida's luxury real estate market indicate a continued demand for high-end properties in the region. The Live Local Act, which was expanded by Florida lawmakers, is also expected to boost the market by incentivizing multifamily developers to set aside at least 40 percent of their units to households earning up to 120 percent of the area median income.
Key Numbers
- $2 million to $6.5 million: Price range for units at the Nora House condo project
- $24.5 million: Sale price of the waterfront double-lot on the Venetian Islands
- $19.2 million: Sale price of the mansion at 733 North Ocean Boulevard in Delray Beach
What Comes Next
As the luxury real estate market in South Florida continues to evolve, it will be interesting to see how the Live Local Act and other developments impact the market. With new projects and sales on the horizon, the region is likely to remain a hub for luxury real estate activity.
Key Facts
- What: New condo launches, multi-million dollar sales, expansion of the Live Local Act
- When: Recent sales and developments in 2023
- Impact: Continued demand for high-end properties, potential boost to the market from the Live Local Act