A beachfront condo on Palm Beach Island has broken ground, and it has a new development group leading the way.
Located on the 1.1-acre site at 3550 South Ocean Boulevard in Palm Beach, 3550 South Ocean will have 30 units. They are priced starting at $1.875 million. Sizes range from 2,700 to over 3,000 square feet.
The project was originally proposed by Gary Cohen, CEO of Boca Raton-based Paragon Acquisition Group. Now, the lead developer is DDG, although Cohen is still involved in the project.
DDG is also the general contractor for the seven-story building.
DDG said 3550 South Ocean is 20 percent pre-sold. Buyers are required to make a 20 percent deposit, which is less than the 50 percent down required at most condo projects in Miami.
The project was designed by Garcia Stomberg, Kobi Karp Architecture and Champalimaud with a sawtooth shape that allows each residence to have ocean views.
Amenities will include private beach access, a saltwater pool and sun terrace, a fitness studio, on-site surf board and paddleboard storage, private gated access, private parking and personalized services from Wright Fit, such as in-room massages and yoga classes.
Douglas Elliman is the exclusive broker for 3550 South Ocean. The sales gallery is at 205 South Ocean Boulevard.
The condo is to be completed in late 2018.