News and Events
After decades without any new oceanfront condos, two will soon crop up on the city's coastline. Demolition was finished Thursday on the old Delray South Shore Club. With it gone, construction will soon begin on 1625 Ocean, the newest oceanfront condo development in the city.
Delray Beach is positioning itself to be South Florida’s next mega-millionaire magnet with a pair of exclusive luxury condos being developed on prime beachfront real estate.
The availability of oceanfront land in South Florida right now is extremely limited,” said Dustin Salzano, CFO of U.S. Construction.
A high-end Delray Beach condominium project nabbed a $44.7 million construction loan.
The 1625 Ocean condo project will move forward in Delray Beach after the developer obtained a $44.65 million construction loan.
A Philadelphia-based construction company has closed on a $44 million loan from Madison Realty Capital to build on Ocean Boulevard in Delray Beach, as the demand for luxury residences and homes continues to climb in South Florida.
Sales of $1 million-plus condos have doubled in recent months.
U.S. Construction is moving forward with plans for a new oceanfront condo development in Delray Beach at the site of the former Delray South Shore Club, The Real Deal has learned. 1625 Ocean, at 1625 South Ocean Boulevard, will feature 14 condos, including four penthouses. Prices will range from $3.9 million to $7.5 million, according to a press release.