Inventory Intel
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The launch follows a $1 billion transformation of the beachfront property.
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Located two miles from Las Olas Beach, the 540-foot tall, 45-story development features 163 residences and marks the first condominium tower developed on Las Olas Boulevard in nearly 20 years.
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“The starting point for us was a dated office complex with surface parking, and our ending point is the creation of a vibrant campus,” said Newrock Partners Principal Koby Assaraf.
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Two townhomes from Le Reve are already on the market: Unit C, listed for $4.85 million, and Unit A, listed for $5.288 million.
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Clara Homes will construct its third building at Clara Bay Harbor, an apartment complex in the Bay Harbor neighborhood.
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The Palma joins its sister development, previously named 5250 Park, on Northwest 84th Avenue.
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The move comes despite a slowdown in the single-family rental market.
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The brand will specialize in cottage-style homes with private backyards.
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Most of the single-family homes are in Texas, Georgia, Alabama and Oklahoma.
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The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.
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The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.
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Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.
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Sandra Tagliamonte and Madison Collum of ONE Sotheby’s International Realty have listed a waterfront Mediterranean estate in Fort Lauderdale for more than $13 million.
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Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
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Actor, singer, songwriter, composer and television personality Manny Chamizo’s talent agency acquires retail condominium on ground floor of luxury Coral Gables building
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Comprising 4.61 acres, the “best-of-both-worlds” property will be developed into two luxury condominiums with a private marina and beachfront amenities.