Boca Raton New Development Showcase - Issue 2

BOCA RATON NEW DEVELOPMENT SHOWCASE

Presented by Pink Palm Douglas Elliman

OCEAN DELRAY 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.

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

2

MODERN LUXURY SITUATED ON MORE THAN 200 FEET OF EXQUISITE OCEANFRONT

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.

3

ARTIST’S CONCEPT

TOWER 155 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,

“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.”

4

LUXURY ABOVE ALL 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.

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

5

A NOTE FROM...

SCOTT SINGER | Mayor of Boca Raton

2,003 - 4,096 Sq. Ft. 2-4 bedroom residences Priced from $1.5M - $3.3M EXCLUSIVE INFORMATION:

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.

irp A on

at

R oca

B

ort

Dixie HIGHWA Y

pinkpalm.com/akoya 561-500-PINK

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.

B

Akoya 3.8 miles West Palmetto Park Rd

LET US SHOW YOU

the newBoca camino real

1,819-6,572 Sq. Ft. 1-4 bedroom residences Priced from $2M- $20M EXCLUSIVE INFORMATION:

pinkpalm.com/mandarin 561-500-PINK

6

OCEAN DELRAY

TOWER 155

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.

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:

EXCLUSIVE INFORMATION:

pinkpalm.com/oceandelray 561-500-PINK

pinkpalm.com/tower155 561-500-PINK

Mizner Park Amphitheater

Highland Beach

Mizner Blvd

Boca Raton City Hall

Gumbo Limbo Nature Center Red Reef Park

Royal Palm Residences

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

Lake Boca Ra

Alina

2,425-7,168 Sq. Ft.

ton

Tower 155

Raton

Ocean Delray

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

Boca Raton Resort

Boca Beach house The Residences at Mandarin Oriental

Royal Palm Yacht & Country Club

Boca Beach Club

1,402- 4,829 Sq. Ft.

3,856 - 7,542 Sq. Ft.

1-4 bedroom residences

1-4 bedroom residences

Priced from $1,000,000-$6,000,000

Priced from $4.5M - $6M

EXCLUSIVE INFORMATION:

EXCLUSIVE INFORMATION:

pinkpalm.com/bocabeachhouse 561-500-PINK

pinkpalm.com/alinaresidences 561-500-PINK

7

A CONVERSATION WITH...

JOSE CABRERA General Manager, Signature Flight Support Boca Raton Regional Airport

Q: TELL US ABOUT HOW YOUR TRAFFIC OVER THE PAST YEAR.

Q: HAVE YOU SEEN A SHIFT IN THE DEMAND FOR SERVICES? A: There’s been an overall surge in business and leisure flights including newcomers to private aviation with lighter to medium jets and increased charter flights.

A: While COVID disrupted our market, the Signature network has started to see an increase in operations, Boca specifically has seen a strong recovery throughout. We are seeing a large influx of people who have never flown in a private plane who no longer want to travel with hundreds of people as well as people who are looking for the privacy and convenience that private aviation allows. Boca Raton’s airport is popular because it’s boutique feel and location, just 10 minutes from the beach.

Q: WHAT’S NEW WITH SIGNATURE FLIGHT SUPPORT? A: We’ve introduced Signature Assure. Safety has always been a top pillar, but now we take it to another level, exceeding industry standards. We’ve made many changes to our operations, including the use of an electrostatic sprayer that kills germs on surfaces for up to 30 days that we use bi-weekly. We’ve also introduced Signature RENEW, our company-wide global sustainability initiative, invigorating the journey toward net-zero carbon emissions.

Q: HOW HAS THE ADDITION OF CUSTOMS CHANGED THE BOCA REGIONAL AIRPORT? A: We’ve noticed growth in the amount of young families that are using the airport for quick trips to the islands, South America and Europe. Many people are shifting their primary residence and businesses to Palm Beach County and keeping their planes here. CEO’s who live in Boca Raton are using our airport as their base of operations.

Q: WHAT IS THE FUTURE OF PRIVATE AVIATION? A: I’m most excited about EVTOLs (Electric Vertical Take-off and Landing) aircraft. These drone-like vehicles will carry you anywhere. We’ve partnered with UBER to supply the infrastructure.

8

BOCA RATON SPOTLIGHT THE BOCA RATON AIRPORT

every seat is first class Located in the beautiful city of Boca Raton, the Boca Raton Airport is one of the premier general aviation facilities in the Southeast. Situated off of I-95, midway between West Palm Beach and Ft. Lauderdale, the Airport’s convenient location puts you just minutes from business centers, arts and entertainment, shopping and beaches.

making international travel easy Wherever your travels take you, we’ll make it easier to get back home. The U.S. Customs and Border Protection facility allows your international flight to fly directly into the Boca Raton Airport—saving you time and making your travels more efficient.

FAA CONTROL TOWER

FIXED BASE OPERATORS

PILOTS

TRAVELERS

The Tower is open daily from 7AM-11PM, and manned with a team of highly trained, professional air traffic controllers.

Each FBO offers a range of amenities, such as fueling, ground handling, aircraft storage, conference rooms, catering, and limousine service.

With 125 T-Hangars and a convenient Boca Raton location, the Airport makes flying a true pleasure for pilots.

A picturesque locale, on-site hotel and restaurants are just a few of the reasons to choose the Boca Raton Airport for your next adventure.

9

FIVE THINGS TO CONSIDER WHEN BUYING NEW CONSTRUCTION

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.

Buying a home is a complex affair, even if you have bought and sold dozens of homes in your lifetime. A new construction purchase adds a layer of complexity and comes with some very specific caveats to bear in mind when making a purchase. These are the five most common questions I get from buyers considering buying new.

1. Getting A Good Deal/ Negotiability Like most people, you probably want to know that you are getting the best possible price. The negotiability in selling price will vary from development to development, determined primarily by market conditions, demand for the exact unit you desire, and the policies of the project financiers. In general, there

is very little flexibility in the asking price for a new construction offering.

It is almost always easier to receive credits, additional included options, and other consideration not related to the purchase price. Knowing how to best structure the deal going in will yield you the best net price.

2. The Model vs The Standard As with many things in life, the display

model is the ideal in every way. With new development, model homes often showcase features that aren’t even offered by the developer. Beware: the models are designed for you to fall in love and do not accurately depict what you will actually receive. To manage expectations, I like to walk through a model with my buyers and point out specifically what is/is not included. When possible, it is a good practice to arrange for a walk through of a unit that is being delivered very close to the “base model” for reference. On a typical single family home, you can plan for 25% of the purchase price in upgrades. Today’s luxury condominiums are increasingly delivered move-in ready, though

TOWER 155 TOWNHOUSE 02 3 bedrooms | 4.5 bathrooms 2,976 sq. ft. | Built 2020 $2,600,000

For more information: PinkPalm.com/tower155th02 or call/text 561.500.PINK

10

the “standard” in many areas is to deliver with concrete floors and primed drywall; this is referred to as called “decorator ready.”

3. Deposit Structure Once you decide to make a purchase, there will be a deposit required to go to contract. The initial deposit is typically between 10% and 30% of the purchase price (depending upon the stage of construction when you go to contract). Some developers will require multiple deposits along the way, some only require an initial deposit with the balance at closing. Because there is no standard structure in place, it is important to get clear about this with your agent.

4. Financing Options - Purchase With the cost of capital at all-time historic lows, many buyers who are in a position to purchase without financing are choosing to close with financing and use their capital elsewhere. Some developers will accept a contract with a contingency for financing, others will not. In general, the new homes communities in the opening price points of a given market have developers willing to accept contingent deals and the luxury developments will not. If you are considering a purchase with financing, this may be a very important caveat for you.

5. Timing/Delivery Once you sign a contract, the next

thought for most buyers is moving in.

It is important to note that all timelines offered by a developer are subject to change for a multitude of reasons.

There are circumstances in which the delivery of a unit may be years later than planned. For those with abundant flexibility (and patience!) this may be a lesser issue; for most it is a major consideration. One can negotiate certain contractual terms reserving additional rights to cancel should delivery be delayed, though most people just want to know the unit will be delivered. A few indicators of better likelihood of an on time delivery include: secure financing in place through completion, developer viabilty, contractor viability, and sales velocity.

TOWER 155 #1114 2 bedrooms | 2.5 bathrooms 1,814 sq. ft. | Built 2020 $1,895,000

For more information: PinkPalm.com/tower155unit1114 or call/text 561.500.PINK

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...

OCEANFRONT LUXURY NEW CONSTRUCTION

AN INTERVIEW WITH JOSE CABRERA General Manager, Signature Flight Support

A WORD FROM SCOTT SINGER Mayor of Boca Raton