The Coastal Star

Business Spotlight: Mizner condo developer moves headquarters to Boca to manage new project

By Christine Davis

El-Ad National Properties, an Elad Group company that develops, manages, sells and administers operations for 4,372 Florida properties, has moved its headquarters from Plantation to downtown Boca Raton in the Bank of America building, 150 E. Palmetto Park Road, Suite 400.

     From its new location, it plans to hire additional employees to manage its $500 million ALINA Residences Boca Raton, a luxury condominium community with up to 384 units that will replace the Mizner on the Green townhomes on Southeast Mizner Boulevard. One building of the old complex has already been demolished to make room for a sales center for the project, which debuts its new name this month.

“We have long had a real estate presence in Boca Raton and are now pleased to officially call Boca Raton and Palm Beach County home,” said El-Ad National Properties executive director of development Noam Ziv.

In line with the project, El-Ad National Properties is partnering with businesses and nonprofit groups that include a programming collaboration with the Boca Raton Museum of Art, memberships in the Boca Downtown Business Alliance and Boca Raton Chamber, and support of the Golden Bell Education Foundation, Habitat for Humanity of South Palm Beach County and the FAU Charles E. Schmidt College of Medicine.

Elad Group, a real estate company with several billion dollars in assets, focuses on the acquisition, development and conversion of architecturally significant residential and commercial properties in markets throughout the United States.

                            

Douglas Elliman Real Estate has acquired the Boca Raton firm Pink Palm Properties that was led by Rochelle LeCavalier and specialized in properties in Royal Palm Yacht & Country Club. LeCavalier and her team will work out of Elliman’s Boca Raton office at 444 E. Palmetto Park Road.

                            

Sales of homes priced at $600,000 and above saw an unprecedented rise in July compared with the same month last year, according to the Realtors of the Palm Beaches and Greater Fort Lauderdale.

Sales of homes priced at $1 million or more rose 30.6 percent, and home sales in the $600,000 to $999,999 range showed a 26.6 percent increase for the same month.

The median sales price of single-family homes increased 4.2 percent to $350,000; active inventory decreased 5.1 percent.                            

                            

Sales numbers are looking especially good for Corcoran Group agent Steven Presson.

As of Aug. 2, Presson had completed 15 residential sales for his clients in 70 days, with combined sales totaling more than $36 million.

Presson, who specializes in luxury coastal real estate in Ocean Ridge and surrounding communities, has been ranked No. 2 out of the Corcoran Group’s 133 agents for the first quarter of 2018.

His recent sales include: $6.895 million for a lot near Briny Breezes; $5.032 million for a home at 913 N. Atlantic on Hypoluxo Island; $3.699 million for a beachside point lot at 53 Spanish River Drive, Ocean Ridge; $4.195 million for a panoramic waterfront estate at 27 Harbor Drive, Ocean Ridge; $1.695 million for a waterfront home at 62 Harbor Drive in Ocean Ridge; and $1.095 million for a waterfront land at 1508 Lake Drive in Delray Beach.

                            

Last month, NHL hockey star Max Pacioretty listed his 17,142-square-foot home with Devin Kay, an agent with Douglas Elliman, for $3.45 million. The house, at 434 Areca Palm Road in Royal Palm Yacht & Country Club, Boca Raton, was renovated last year.

The five-bedroom home has 41/2 bathrooms, 13-foot ceilings, marble floors, an outdoor summer kitchen, saltwater pool, smart house technology, a safe room, and indoor/outdoor basketball and sports courts.

Pacioretty, 29, a left wing with the Montreal Canadiens, has 226 goals in 10 NHL seasons, with a career best of 39 in 2013-14 for Montreal.

                            

Ken Johnson, associate dean of graduate programs and professor of finance in the College of Business at Florida Atlantic University, was named president of the American Real Estate Society. Founded in 1985, the association produces and disseminates research and information about real estate decision-making and the functions of real estate markets. 

                            

  Allison Turner has been appointed to the board of directors of the Institute for Regional Conservation, a Delray Beach nonprofit that aims to protect, restore and manage biodiversity regionally, and to prevent regional extinctions of rare plants, animals and ecosystems.

Turner, a Delray Beach resident, is owner and CEO of BCoSF Media and Business Consultants of South Florida.

                            

John M. Campanola, a New York Life agent since early 2012, has become a member of the 2018 Quality Council of New York Life Insurance Co. His office is in downtown Delray Beach. A longtime Florida resident, he is involved in the Greater Delray Beach Chamber of Commerce, where he won its 2013-2014 Ambassador of the Year award and the 2013-2014 Ken Ellingsworth Community Service Award.

Campanola is also involved in the Boynton Beach Chamber of Commerce, where he won its 2017 New Member of the Year Award.

                            

Artist Amanda Johnson will debut her “Recovery Butterfly Bag” at an open house from 11 a.m. to 1 p.m. Sept. 15 at Amanda James Gallery. For every bag sold, the gallery will donate $10 to Wayside House, a women’s addiction recovery facility in Delray Beach. The gallery is at 412 E. Ocean Avenue, Boynton Beach. Visit amandajamesgallery.com.

                            

Crane’s Beach House Boutique Hotel & Luxury Villas launched a new event series, “Tastings at the Tiki,” to benefit local nonprofit and community service organizations. Events will be from 6 to 9 p.m. on the third Thursday of the month and will offer special wine and beer tasting experiences. 

The Sept. 20 event will benefit artists’ services of Delray’s Arts Warehouse. Drinks will be from Chalk Hill Winery, Smith & Hook Winery and Saltwater Brewery. Crane’s will offer hors d’oeuvres from local restaurants and live music. Admission is $20 and includes a drink ticket. Call 278-1700 or visit cranesbeachhouse.com.

                            

This year, 108 students will receive $1,069,500 in scholarships, ranging from $600 to $60,000, awarded by the Community Foundation for Palm Beach and Martin Counties. With more than 100 scholarship funds established by donors committed to education, the organization has given more than $11.5 million in scholarship grants since 1983, helping 2,156 students.

In South County, students from Boca Raton Community High School and Olympic Heights Community High were among the recipients.

Among the donors is Sanjiv Sharma of Highland Beach, and one of his two funds, Pundit Mulchand and Janki Devi Sharma Scholarship Fund, had several scholarship recipients this year. 

“We understand that many of our aspiring local students do not have the financial resources for a college education,” said Brad Hurlburt, president and CEO of the Community Foundation. “It is through the generosity of our donors that these dreams can become a reality, and we are extremely proud to be able to provide this service to the community.”

Call 659-6800 or visit yourcommunityfoundation.org.

                            

The South Florida Science Center and Aquarium and the Stiles Nicholson Foundation will hold an event Sept. 29 honoring the recipients of STEM Innovation Awards recognizing leadership, service and collaboration in the fields of science, technology, engineering and math. To be held at the Science Center, the event will include a cocktail reception, dinner, music and science demonstrations. Tickets are $75 each or $750 for a table of 10, and sponsorship opportunities are available. The South Florida Science Center and Aquarium is at 4801 Dreher Trail N., West Palm Beach. Call 832-1988 or visit sfsciencecenter.org.

Send business news to Christine Davis at cdavis9797@gmail.com.

                            

                            

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