SOURCE: Group P6

September 22, 2015 11:25 ET

Boca Raton Luxury Condo Sells 50 Percent of Available Units

Downtown Boca Raton's 'New Urbanism' Property Hits Sales Milestone

BOCA RATON, FL--(Marketwired - September 22, 2015) - Boutique condominium 327 Royal Palm, an ultra-luxury residential enclave planned for downtown Boca Raton, has sold 50 percent of its available residences. The news comes on the heels of the property receiving development approval this month from the Boca Raton Community Redevelopment Agency.

"We hit this milestone because of what 327 Royal Palm delivers inside and out: large floorplans in one of South Florida's most exciting downtown destinations. Together, the buyer activity and CRA approval confirm that Group P6 has the right plan for downtown Boca Raton," said John Poletto of Nestler Poletto Sotheby's International Realty, which is handling sales for 327 Royal Palm.

"Our units start at 3,100 square feet. Other projects have to combine units to create one that's as spacious as a unit at 327 Royal Palm," he said. "With pre-construction prices starting from $1.6 million, one buyer even bought two units to be combined as one 5,000-square-foot unit."

The 25 residences at 327 Royal Palm will offer the latest in luxury condominium amenities in what promises to be an architecturally striking building. Among the upscale finishes are open and attractive floorplans that wind through living areas amid the residence's three bedrooms, den and 3.5 bathrooms. Each designer kitchen will feature high-end, contemporary European cabinetry and world-class Sub-Zero and Wolf appliances. The master bathrooms will exude the elegance of Italian vanities and oversized soaking tubs.

Tapping into the growing trend of "new urbanism," which brings residential living to revitalized downtown destinations, 327 Royal Palm will be a short walk from restaurants, musical and entertainment venues, even the acclaimed Boca Raton Resort & Club and Boca Raton's beaches.

Construction is scheduled to start this fall with completion coming by 2017. Earlier this year, Group P6 announced Dick Building Co. of Jefferson Hills, Pa. as the general contractor.

The Group P6 executive team is well known in Venezuela, where the family since the 1970s has been one of the nation's largest developers. Its projects include El Encantado Humboldt, a 1,300-unit apartment development and Parque Industrial del Este, Caracas' largest active industrial development with two million square feet.

About Group P6

Based in Boca Raton, Florida, Group P6 was founded by members of a visionary Venezuelan family who since the 1970s have been among that nation's largest developers. Projects and holdings include thousands of residential units and industrial and major retail developments measuring in the millions of square feet. Group P6 currently is developing three South Florida condominium projects, including 327 Royal Palm in Boca Raton, and The Elysian and The Fordham, both boutique projects in Deerfield Beach, Florida. Pre-construction prices start at $469,000 in Deerfield Beach and $1.6 million in Boca Raton. To learn more about Group P6, click here.

About Nestler Poletto Sotheby's

1989, Mark Nestler and John Poletto united to establish what would become one of the most acclaimed and successful luxury South Florida real estate firms. With a mission focused on incomparable client service, Mark and John were quickly recognized both locally and nationally for their marketing excellence, and sales success. These accolades ultimately resulted in being awarded an invitation to become the exclusive Sotheby's International Realty franchise in the greater Boca Raton and Delray Beach areas, providing the partners an even greater opportunity to cultivate their customer-centric approach to real estate.

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