Delray Beach, FL (November 15, 2019) – Developers National Realty Investment Advisors (NRIA) and U.S. Construction have broken ground on Ocean Delray, a first-of-its-kind residential development located on a prime piece of oceanfront property in Delray Beach. Joined by Delray Beach Mayor Shelly Petrolia, the team celebrated the project’s official groundbreaking on November 14th.
Located at 1901 South Ocean Boulevard, Ocean Delray will be the first ever ultra-luxury, oceanfront residential development in Delray Beach. With only 19 uniquely designed residences, this one-of-a-kind development will bring exceptional living in residences priced from $5.7-$10 million.
“Our development is changing the way the real estate industry looks at Delray Beach,” said John Farina, President and CEO of U.S. Construction which is developing the project with NRIA. “This city has a rich cultural history and was ripe for new development. With Randall Stofft’s design and our team’s execution, Ocean Delray will take oceanfront living in South Florida to the next level.”
At groundbreaking, IMI Worldwide Properties, the exclusive sales and marketing representative for Ocean Delray, had already sold 40% of the project, totaling $45 million. The project is expected to be completed in the first quarter of 2021.
“This is not a typical South Florida condo building. For people looking for the feel of a luxury, single-family residence, but the ease and amenities of a condo building, this is the place they want to be,” added Glenn La Mattina, SVP of Development at NRIA.
The team also unveiled the custom designed sales gallery, located at 1053 E. Atlantic Avenue. The sales gallery will be open starting November 18th from 9 a.m. to 7 p.m. Monday through Saturday and Sundays from Noon to 7 p.m.
Designed by famed South Florida architect Randall Stofft, Ocean Delray is being built on a prized 1.8-acre piece of land formerly occupied by the Wright by the Sea Hotel.
The residences –each of them uniquely designed to feel more like a single-family home– will range from 3,373 square feet to more than 4,400 square feet of air-conditioned living space. The 3-bedroom plus den to 5-bedroom residences, complete with 4.5 to 6.5 bathrooms, also offer expansive oceanfront terraces that add from 682 to over 2,300 square feet of additional living area with glass panel balcony railings that will create a seamless transition to the beachfront beyond. The site also features over 200 feet of ocean frontage and some of the widest seagrass dune lines in South Florida.
The developer has created a one-of-a-kind, beachfront hospitality experience so that residents can take full advantage of their oceanfront lifestyle. They will also have access to a state-of-the-art Peloton experience room with the latest in exercise equipment and technology.
All of this is less than five minutes from Atlantic Avenue which offers fine dining, entertainment and shopping. Considered America’s most desirable city, Delray Beach is rated by Rand McNally as the “Best Small Town in America” and USA Today as one of America’s top 10 shopping districts. Delray Beach is the “Most Fun Small Town in America” and it won the Downtown Achievement Award of Excellence.
Currently, reservations are by appointment only. To schedule an appointment, interested buyers can contact (800) 793-9783.
About Ocean Delray
Ocean Delray is Delray Beach’s most exciting and exclusive new oceanfront development in 30 years. The 19 highly-appointed, 3 to 5-bedroom residences will range from 3,373 square feet to more than 4,400 square feet – and rival any single-family home anywhere in South Florida. Prices start from the high-$5 millions. The project, designed by architect Randall Stofft, is being co-developed by NRIA and US Construction with exclusive representation by IMI Living. Learn more at www.OceanDelray.com.
National Realty Investment Advisors (NRIA), a prominent vertically-integrated investment, management and development firm focuses on luxury residential projects across many of the most dynamic urban markets across the East Coast. Today, with over $1 Billion AUM, the firm continues to grow with a pipeline of exceptional opportunities. NRIA has built an impressive reputation for delivering exceptional luxury homes for only the most discriminating owners.
About U.S. Construction
U.S. 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 Philadelphia, Pennsylvania, 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.