Boca Raton New Development Showcase Issue 3

BOCA RATON NEW DEVELOPMENT SHOWCASE

Presented by Pink Palm Douglas Elliman

TOWER 155

LUXURY ABOVE ALL

THE PERFECT COMBINATION OF CONDO LIVING & A SINGLE FAMILY HOME

1-3 bedroom residences | Ranging from 747-3000 Sq. Ft. | Priced from $800,000-$2,750,000

BOBBY D’ANGELO & CARL KLEPPER | Compson Associates Bobby D’Angelo and Carl Klepper Jr. know a thing or two about residential and commercial development. This dynamic duo has developed numerous successful projects locally.

state-of-the-art technology and a full set of amenities makes the transition to condo living seamless for downsizers.”

D’Angelo has been active in the Boca market since 1987. He joined Compson Associates, Inc., in 2002. He handles sales, marketing and management, while Klepper oversees finance, construction and accounting.

As fourth-generation partners at family-owned Compson Associates, Inc., a full-service Boca real estate firm leading the transformation of “The New Boca,” they draw on decades of market knowledge and experience for every project.

In South Florida alone, the firm has developed 3,500 residential units in the past decade, as well as more than 3 million square feet of commercial and office developments. Major projects include Renaissance Commons, an 86-acre parcel with 1,690 residential units, retail and office space, and Boynton Village, a 100-acre SuperTarget-anchored project.

Located in downtown Boca Raton, Tower 155 is just steps from Mizner Park and Royal Palm Plaza making it easily walkable and convenient to all the best restaurants and attractions.

“We could not have accomplished all of this without the foundation built by the late Anthony and Jim Comparato, our grandfatherin-law and father-in-law,” says D’Angelo. “Their mentorship and guidance have allowed us to be the success we are today. They will forever be in our hearts and minds, and we continue to honor their legacy of ‘Building with Integrity.’”

“Many of our buyers are empty nesters who live locally who want a low-maintenance alternative to single family house living,” D’Angelo says. “We have found that delivering modern design features including 10-foot ceilings in all units, deluxe appliances,

Opulent Bathrooms

State of the Art Kitchens

No detail was overlooked to create a spa-like enclave featuring elegant floating bathroom vanities, Quartz countertops, and frameless glass shower enclosures.

Exquisite European designer cabinets, Quartz countertops, Bosch appliances with radiant electric cooktop.

BREATHTAKING MODERN ART DECO ARCHITECTURE IN THE HEART OF DOWNTOWN BOCA By virtue of its location, Boca Raton is a world-class city located in the lap of luxury. Boca Raton’s pristine beaches, elite golf courses and stunning scenery will provide the vibrant surroundings for Tower 155, the most lavish address in downtown Boca Raton. Tower 155 has one of the highest walk scores in the city! One of the many luxury amenities featured is a sundeck overlooking Mizner Park that offers a wading pool, hot tub, chaise lounges, and a vibrant bar scene.

Every day is an invitation to swim, sunbathe, relax and indulge until the stars come out.

Designed by the renowned architectural firm, Vander Ploeg & Associates, Inc., Tower 155 features breathtaking exterior towers with a unique art deco flair, as well as modern public spaces & interiors designed by award-winning interior designer Steven G. This luxury condominium development offers the ultimate in upscale, urban living with a host of modern features and amenities including a state-of-the-art rooftop fitness center, an open air yoga studio and business lounge with conference room.

“Tower 155 is the fastest-selling luxury residence in recent history,” says D’Angelo. “We started with 170 residences, but after many residents asked about combining units, we redesigned to a boutique 128. We are down to our last few units, which we are confident will sell quickly as well.”

Smart Home Technology

Amenities State-of-the-art rooftop fitness center and exclusive urban landscaped rooftop sundeck featuring: hot tub, wading pool, bar, lounge area, and outdoor yoga studio.

Smart building tech ready with access to concierge services & optional unit control for lighting, drapery, thermostat, and electronics.

For more information: PinkPalm.com/Tower155 or call/text 561.500.PINK

2

3

OCEAN DELRAY An extraordinary opportunity is unfolding on the oceanfront in Delray Beach.

Nineteen stunning residences provide for maximum privacy on one of the most elusive and pristine beaches in all of South Florida.

LET US SHOW YOU

THE NEW BOCA RATON

EXCLUSIVE INFORMATION:

ort

irp A on t

Mizner Park Amphitheater

Ocean Delray Highland Beach

Mizner Blvd

a

aR c o B

Dixie HIGHWA Y

pinkpalm.com/oceandelray 561-500-PINK

Boca Raton City Hall

Gumbo Limbo Nature Center Red Reef Park

A NOTE FROM...

Akoya 3.8 miles West

SCOTT SINGER | Mayor of Boca Raton Palmetto Park Rd

Royal Palm Residences

Tower 155

2,425-7,168 Sq. Ft.

Alina

Tower 155’s modern one, two, and three bedroom residences, spacious two-story townhomes and breathtaking penthouses let you design the perfect home in the most desired downtown location.

EXCLUSIVE INFORMATION:

pinkpalm.com/tower155 561-500-PINK

3-5 bedroom residences Priced from $2M - $10M

Lake Boca Raton

TOWER 155

EXCLUSIVE INFORMATION: pinkpalm.com/royalpalmresidences 561-500-PINK

Boca Raton Resort

camino real

Boca Beach house The Residences at Mandarin Oriental

Royal Palm Yacht & Country Club

Boca Beach Club

2,003 - 4,096 Sq. Ft.

1,819-6,572 Sq. Ft.

1,402- 4,829 Sq. Ft.

3,856 - 7,542 Sq. Ft.

2-4 bedroom residences

1-4 bedroom residences

1-4 bedroom residences

1-4 bedroom residences

Priced from $1.5M - $3.3M

Priced from $2M- $20M

Priced from $1M-$6M

Priced from $4.5M - $6M

EXCLUSIVE INFORMATION:

EXCLUSIVE INFORMATION:

EXCLUSIVE INFORMATION:

pinkpalm.com/akoya 561-500-PINK

pinkpalm.com/mandarin 561-500-PINK

EXCLUSIVE INFORMATION:

4

pinkpalm.com/alinaresidences 561-500-PINK

pinkpalm.com/bocabeachhouse 561-500-PINK

The City of Boca Raton continues to enhance the outstanding quality of life and welcoming business climate that have made Boca Raton an unparalleled place for nearly a century. At the same time, we continue to innovate to bring exciting new services and opportunities for our long-time residents and the many businesses and families flocking here.

We have added U.S. Customs to Boca Airport and cemented plans for the Brightline/Virgin Trains USA high-speed rail station downtown, which will improve mobility and connect Boca to a major transportation network. The Boca Raton Resort is undergoing a $150 million renovation and our downtown corridor is hotter than ever.

We are welcoming new businesses and enjoying robust economic development. With a highly favorable tax environment, strong talent base, top schools and three universities, and excellent quality of life, it is no surprise that more than half of Palm Beach County’s corporate headquarters are located in Boca Raton.

We have achieved a more inviting and pedestrian -friendly downtown by planning a six-acre waterfront urban green space and investing millions in street and landscaping improvements. Throughout the city, we have created new parks and playing fields, more green space, and expanded beaches and water access, building on our long reputation as The City Within a Park.

Achieving better designed residential buildings by raising standards has been one of my top goals for Boca Raton, which is why I am delighted to be a part of creating “The New Boca” - an exceptional place to live, work, learn, and play.

5

OCEAN DELRAY

MODERN LUXURY SITUATED ON MORE THAN 200 FEET OF EXQUISITE OCEANFRONT

DELRAY BEACH’S FIRST EVER ULTRA-LUXURY OCEANFRONT RESIDENCES

3-5 bedroom residences | Ranging from 3,373-4,473 Sq. Ft. | Priced from $5.8- $9 million Situated on more than 200 feet of private oceanfront, Ocean Delray features 15 residences, four villas, plus nine private and semi-private elevators and lobbies, making it one of the most private residences in South Florida. The Residences at Ocean Delray are our 15 eastern-most facing units that boast the best direct oceanfront views. They offer 3050 feet of glass from their expansive, private, oceanfront terraces. Each uniquely designed residence lives like a luxurious single-family home with an individually distinct floor plan that complements our spectacular beachfront setting. Our first-floor residences offer direct beach and pool access from the terrace. The residences, which range from 3- bedroom plus den to 5-bedrooms, complete with 4.5 to 6.5 bathrooms, offer semi-private lobbies and elevators, with each elevator opening directly into each residence.

Ocean Delray’s four Villas offer an additional level of privacy as they are completely separated from the main building. Each has four bedrooms and four and a half bathrooms, and feature private lobbies and elevators, as well as personal and independent guest entries, and four expansive and private terraces. The ground floor villas have their own private yards. Once residents arrive in their private, air-conditioned three-car garage, they will then enter their own private lobby or private vaulted foyer where their personal elevator will take them directly into their home. These elevators are exclusive to each villa and will not be accessible to anyone else in the building.

Each of the 19 distinct residences and villas come complete with Wolf Sub-Zero and Cove appliances as well as Kohler, Hansgrohe and Franke fixtures. The team has created Custom SieMatic kitchens and Wilton built-in wine bars with sub-zero wine towers. Each private terrace is equipped with an outdoor gas fireplace and Wolf gasrange grill.

This exclusivity, paired with having all the amenities of a luxury condo building, separates Ocean Delray from anything else in the marketplace.

NRIA & US CONSTRUCTION

Founded in 2006, NRIA has grown to be one of the nation’s leading specialists in institutional-caliber private real estate investment management with over $1.25B AUM*, focusing on luxury townhome, condominium and multifamily acquisition and development in many supply constrained, high barrier-to-entry markets along the east coast.

US Construction boasts a diverse portfolio of residential projects ranging from luxury condominium and townhome developments to ultra-luxury oceanfront mansions. Its portfolio spans the eastern seaboard, from Brooklyn, New York to Palm Beach County, Florida.

The company has designed and constructed over $340 million of real estate with an additional $350 million in active development projects.

AMENITIES & SERVICES Welcome to the most exclusive living experience in South Florida where privacy and security are paramount, and no detail was missed when it comes to the luxurious comforts we offer each resident–allowing you to unwind, relax and enjoy. Each element was designed with our residents in mind—and each experience can be fully customized to your wants and needs.

From their beach and pool experiences, to their state-of-the-art fitness equipment, their amenities are the perfect complement to your new Ocean Delray lifestyle.

Oceanfront Living

Private Pool Oasis

Ocean Delray’s private beachfront is their most sought-after amenity. Their highly serviced Beachfront Experience offers residents and their guests the ultimate opportunity for unwinding oceanside.

When not on the sand, residents can still soak up the ocean views from the inviting oceanfront pool deck that features a 54-foot swimming pool and 18-foot jacuzzi spa, plus Vondom chaise lounges and Tuuci umbrellas.

ARTIST’S CONCEPT

Fitness Experience

Utmost Privacy

Exercise is a way of life there. And this is perhaps the most inviting fitness facility in South Florida. Replete with state-of-theart Peloton machines, a high definition screen, and the promise of an active, healthy lifestyle that is just steps from the beach.

Their 19 exquisite residences are completed with 19 airconditioned garages and 9 private and semi-private elevators and lobbies, making Ocean Delray one of the most private residences in South Florida.

For more information: PinkPalm.com/OceanDelray or call/text 561.500.PINK

6

7

ARTIST’S CONCEPT

A CONVERSATION WITH...

LAURENT TOURONDEL Owner of Scusi Trattoria, Chef, James Beard Nominee and Cookbook Author

CURT HUEGEL President, Host Restaurant Group and Owner of Avalon Steak & Seafood

Q: HOW HAS THE DEMAND FOR UPSCALE DINING VENUES SHIFTED IN NYC VS SOUTH FLORIDA?

lived in NYC for 25 years. NYC is resilient. It will change and I think both places will be better for this social experiment.

LT: During Covid, New York City was completely shut down where Florida was not; I am unsure if one can even compare the situations. Since the shut-down, fine dining experiences have paused in New York City where now it is more about casual dining, casual clothing; people are dining carefully as they still want to get out of their homes and return to a sense of normalcy.

Q: WHAT CHANGES IN TRENDS ARE YOU SEEING IN THE RESTAURANT INDUSTRY IN SOUTH FLORIDA? LT: Authentic pizzas are definitely trending right now…

Gluten free doughs for pizza’s are also popular. Sharing appetizers and even main plates works out very well with our menu. Our new Jazz brunch at Scusi Trattoria in Palm Beach Gardens on Sundays is hitting a market that wants to kick back, relax, and make an afternoon of it. Guests caring about authentic, scratch cooking love the menu at Scusi Trattoria. High quality spirit-based cocktails are right on target as well.

CH: I’ve been looking to do something in Delray Beach for five to six years, very seriously for the past two years.

Everybody that I talk to in New York is looking for space in South Florida. The way demographics are changing, it is a natural fit. Every day that I‘m at Avalon Steak & Seafood, I see people I know from up north. Delray Beach has something for everyone - ages 25-75 - all going in and out of the same places. I think COVID has forced people to try an experiment, that everyone was hesitant to try -- and it worked! I think what we are seeing is a real shift. Not to overuse, “the new normal”, but the world has changed in the past 12 months. I love NYC - I have 8 restaurants there. I

CH: Our idea was that we wanted to emulate a nice seaside resort with a steak and seafood restaurant. Fresh seafood sourced from local boats has been our inspiration.

The reception to our more upscale, formal feel has been overwhelming. The restaurant has seemed to resonate with locals and people coming from NY. We wanted to provide an elevated dining experience in a well-designed but approachable environment. I think we were able to get there

8

Photos courtesty of Scusi Trattoria

on both sides. Not too long ago, it was vegetarian, now it’s trending toward vegan dishes. As a new restaurant, you have to keep all of that in mind. I think you’ll start to see more of those types of restaurants opening in the area. The influx has just started.

Q: WHAT DOES THE FUTURE LOOK LIKE FOR YOU? LT: The future for LT Hospitality is growth and perfection. My job each day is striving to make each of our restaurants successful, and that is having an eye on all facets of the business. We are continually reviewing menus and making adjustments.

We listen to customer feedback on every detail. We perfect each location, ensuring that a guest’s visit is memorable and entertaining with the highest quality of food and service. Food brings people together; it is how friendships and business deals are cemented, how milestones are celebrated, how people are brought together and how one experiences a travel destination. It is a priority for me that our team not only executes excellent dishes, distinguished service but also for customers to feel a genuine sense of kindness and gratitude that we have for them visiting us.

CH: This is my first venture in Palm Beach County. Host is more of a collection of different places -- steakhouse in NY, a white-tablecloth Italian restaurant in NY, an Italian cafe, some bars - an eclectic mix of places I would frequent. I’m looking for more space in South Florida. From the time that I parked my car and got half way across Atlantic Ave, I realized this was a special place.

9

Photos Courtesy of Avalon Steak & Seafood

IS THERE A CRASH COMING IN 2021?

ROCHELLE LECAVALIER Executive Director of Luxury Sales, Sports & Entertainment Division Consistently ranked in the top 1% of local agents with sales in excess of $150,000,000; a professional background in land development, construction management, and luxury real estate sales; a BS in Finance and an MBA; and a member of Who’s Who of Luxury Real Estate; it is no wonder Rochelle is sought out as the local authority on luxury residential new development in the region.

Many Boca Raton locals have posed the question as to whether our robust South Florida real estate market is some kind of a bubble. They have asked, ‘Is this “seller’s market” actually a bubble?’

What the leading indicators (as close to a crystal ball as we can get) foretell relative to the 2021 Florida real estate market is the exact opposite of a crash - which is also not hockey stick growth.

The current market conditions are not representative of any kind of a bubble. A housing bubble is a type of economic bubble that occurs periodically in local or global real estate markets, and typically follows a land boom. ‘A land boom is the rapid increase in the market price of real

property such as housing until they reach unsustainable levels and then decline.’

Our last major bubble in South Florida was the result of many factors including what I call “artificial demand” which included many wealthy people from overseas buying new construction condos with the idea that they were a safe place to park money.

In governments where the wealth of an individual may be confiscated or devalued at any moment, the idea of buying real estate in a stable economy was contagious.

Pairing that with unpreceded inventory of new development units and lax lending climate and voila: unsustainable appreciation fueled by artificial demand.

S O L D B Y R O C H E L L E

10

We aren’t seeing “artificial demand“ in our current real estate market.

There are actual people moving to the area. At present, there are over 1000 people moving to Florida every single day. This is a material shift in the demand for property in our region.

Many of these newcomers are immigrating to Florida from very wealthy parts of the country including New York, New Jersey, Connecticut, Chicago, California, among others. Demographically speaking, these newcomers are frequently high net worth and ultra high net worth individuals. The reasons for their relocation to Florida are varied and tangential to this conversation.

OCEAN DELRAY PENTHOUSE CS 5 bedrooms | 6.5 bathrooms 4,473 sq. ft. | Delivery 2021 $8,849,000

The impact of this influx of homebuyers has been a significant price increase in the South Florida real estate market over the last year and a reduction in inventory resulting in an unprecedented seller’s market.

As is always the case, a seller’ market results in increased velocity and higher selling prices. Local buyer demand is centered on beautiful, move-in ready, and, in some cases, turn-key and furnished offerings in the luxury sector.

In all sectors, there is unprecedented demand resulting in record-breaking prices.

A few years ago, I sat on a panel discussion at The Residences Mandarin Oriental, Boca Raton where I was serving as Vice President of Sales. At that time, I claimed our new development options in Boca Raton as only slightly more than sufficient to meet the coming demand. At that time,

we had not seen a new development project in Boca Raton since One Thousand Ocean launched in 2010.

Fast forward just 18 months and it seems that our inventory of new development offerings may be insufficient to meet the demand. Most of the buyers I have been working

S O L D

with are most concerned with finding luxurious accommodations catering to their elevated and full-service lifestyle preferences. Fortunately for them, we have a handful of exceptional new development options newly complete, nearly complete, and nearing completion.

MANDARIN ORIENTAL PENTHOUSE

B Y

4 bedrooms | 4.5 bathrooms 6,572 sq. ft. | Delivery 2021

R O C H E L L E

$15,500,000

11

PINK PALM

WE SELL BOCA RATON LUXURY REAL ESTATE TO THE WORLD

pinkpalm.com | info@pinkpalm.com | 561.300.2648

EXCLUSIVE NEWS for our PREMIERE CLIENTS

BOCA RATON NEW DEVELOPMENT SHOWCASE

In this issue...

LUXURY NEW CONSTRUCTION IN DOWNTOWN

AN INTERVIEW WITH NYC RESTAURANTEURS South Florida is the Sixth Burrough

A WORD FROM SCOTT SINGER Mayor of Boca Raton