SOURCE: 200 East

200 East

January 27, 2012 15:40 ET

Moving Up to Downtown Boca Raton

200 East Boasts More Than $23 Million in Sales Since January 2011

BOCA RATON, FL--(Marketwire - Jan 27, 2012) - Increasing sales momentum of the residences at 200 East has translated to more than $23 million in sales since January 2011. Buyers are flocking from West Boca, looking to move up to the new downtown Boca Raton.

"With strong interest from local buyers, the building has reached nearly full occupancy," said Lon Tabatchnick, developer with the Lojeta Group. "Interest has been considerable throughout the year."

Nestler Poletto Sotheby's International Realty team was hired to market the property. Their efforts have helped position 200 East and its luxury lifestyle ahead of other developments in downtown Boca Raton.

"The number one aspect in real estate is location. This property is in the middle of it all," said Russell Yellin, director of sales for 200 East. "200 East is luxury lifestyle living without the golf course maintenance fees or the drive to the restaurants and downtown. It is the perfect place to live."

The people who have purchased residences are looking to embrace an upscale luxury lifestyle, said Ricki Auerbach, vice president of Communications and Marketing for The Lojeta Group. "They buy at 200 East because they want to have access to the best restaurants, shopping and cultural venues in Boca, while maintaining their chic lifestyle," she said. "They purchase here because no other community in Boca offers the same experience -- it's about downtown luxury living."

The remaining two and three-bedroom residences are priced from $675,000 to more than $2 million.

"Buyers from West Boca and New York have discovered the luxury of living in downtown Boca -- it is a place they want to stay," said Tabatchnick. "The downtown is experiencing a renaissance; it's a quality of life not available elsewhere in South Florida."

The popularity of 200 East has resulted in tremendous momentum. With 88% occupancy, the best views and most desirable floor designs are already in limited supply. "Ongoing demand will quickly outstrip the supply," Tabatchnick said.

For more information on 200 East, please contact Nestler Poletto Sotheby's International at 561-368-5105 or www.200eastbocaraton.com. The property is located at 200 East Palmetto Park Road, Boca Raton, FL.

About Lojeta Group and Millennium Homes
The Lojeta Group is a diverse, very successful and highly respected family owned real estate development firm. Focused on developing and investing in high quality large-scale opportunities, the Lojeta Group has completed 20,000 homes, 10,000 rental apartments and 1,000,000 square feet of commercial space since its inception in 1985. In addition to 200 East, the firm is also developing Margaritaville Hollywood Beach Resort in Hollywood, Florida. For more information, please visit www.lojeta.com.

For more than 50 years, Millennium Homes has been building communities nationwide to the highest standard of quality and design. Builders of communities that bring people together, Millennium has completed over 100 communities that stretch from New Jersey south to Florida and west to Texas and California. For more information, please visit www.millenniumhomes.com