sales - News - The Coastal Star2024-03-28T10:49:35Zhttps://thecoastalstar.com/profiles/blogs/feed/tag/salesAlong the Coast: Hot! Hot! Hot!https://thecoastalstar.com/profiles/blogs/along-the-coast-hot-hot-hot2021-03-31T16:51:39.000Z2021-03-31T16:51:39.000ZMary Kate Leminghttps://thecoastalstar.com/members/MaryKateLeming769<div><p style="text-align:center;"><a href="{{#staticFileLink}}8740888501,RESIZE_584x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}8740888501,RESIZE_584x{{/staticFileLink}}" width="468" alt="8740888501?profile=RESIZE_584x" /></a><em>Steven Presson (right), a Realtor with the Corcoran Group, shows a property on Hypoluxo Island to Brian Mock in March as Douglas Elliman agent Tonja Garamella listens from the top of the stairs. The Mocks, from Newport Beach, California, plan to move to the area and were viewing the home with friends who recently moved to Hypoluxo Island from California. The house was listed at $4.95 million. <strong>Jerry Lower/The Coastal Star</strong></em></p>
<p style="text-align:center;"><span style="font-size:12pt;"><strong>Buying ‘frenzy’ strains supply of coastal homes</strong></span></p>
<p><strong>By Charles Elmore</strong></p>
<p>A year after the coronavirus pandemic began to trigger lockdowns and states of emergency, what once seemed to forebode an uncertain pause in home sales has instead transformed coastal Palm Beach County into one of the hottest markets in the nation.<br /> Corcoran Group agent Steven Presson said he cannot remember anything like it.<br /> “It’s a frenzy at the highest level,” Presson said. “Buyers right now are scratching and clawing for inventory.”<br /> A vast Ziff family estate on the market for six years in Manalapan sold for a reported $94 million in March, heralded as a record for the town.<br /> Home sales doubled in Ocean Ridge in February compared to the same month a year earlier, even as the inventory of available properties dropped almost 40%, according to data cited by real estate firm Douglas Elliman.<br /> “Homes are getting sold literally the minute somebody finds out about them,” said Val Coz, the company’s Delray Beach-based senior director of luxury sales.<br /> <a href="{{#staticFileLink}}8740423471,RESIZE_180x180{{/staticFileLink}}"><img class="align-left" src="{{#staticFileLink}}8740423471,RESIZE_180x180{{/staticFileLink}}" alt="8740423471?profile=RESIZE_180x180" width="103" /></a>Luxury home sales in Palm Beach County surged 115% in the fourth quarter of 2020 compared to the same period of 2019, the largest increase in any major U.S. market tracked by Seattle-based real estate brokerage Redfin Corp. It marked the biggest jump since Redfin began crunching such data in 2013, company officials said.<br /> Sellers were also getting more money for their homes, with luxury home sale prices in the market rising 14% in the fourth quarter of 2020 compared to a year earlier, the report found.<br /> The area’s “high-end housing market has experienced explosive growth” as affluent New Yorkers and others have flocked to the sunny region “in search of more space and lower taxes while working remotely during the pandemic,” according to Redfin’s report.<br /> In this case, “luxury” means homes with market values in the top 5% of the county. They had a median sale price of $1.8 million. The fervor extends to other segments of the market as well, though with a little less intensity on each rung down the price ladder. Purchases of the least expensive homes have dropped off slightly.<br /> Sales of “expensive” homes in the county — the 30% of homes with the next-highest market values after luxury homes — increased 38% and had a median sale price of $500,000, Redfin reported. Mid-valued home sales jumped 26% and had a median cost of $285,000. Sales of “most affordable” homes, those with market values in the bottom 5% in the county, decreased 10%, with a median cost of $56,000.<br /> More than half of Redfin.com home searches in Palm Beach County came from outside the county during the fourth quarter, with Cook County, Illinois, and Kings County, New York, the leading places of origin.<br /> Wall Street firms expanding their presence or considering doing so in South Florida have included Goldman Sachs, Virtu Financial and Elliott Management, Redfin noted.<br /> Palm Beach County’s red-hot numbers continue in 2021, with January producing luxury-home sales 88% above the same month of 2020 and February 70% more, according to Redfin.</p>
<p style="text-align:center;"><a href="{{#staticFileLink}}8740403678,RESIZE_930x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}8740403678,RESIZE_710x{{/staticFileLink}}" alt="8740403678?profile=RESIZE_710x" width="710" /></a><em>Steven Presson shows a property in March on Hypoluxo Island to Paul May, who recently moved to Lantana from California. Presson said there is such a limited inventory of homes that this home had been shown 32 times since it was listed for $4.95 million a month before. That is the typical number of showings for a two-year period. <strong>Jerry Lower/The Coastal Star</strong></em></p>
<p>One of the few factors slowing down the pace is that the inventory of available homes near the coast is running thin.<br /> For three recent sales in Manalapan, Hypoluxo Island and Ocean Ridge, Presson said, he never quite made it through the traditional process of putting the homes on the market and waiting for offers. Buyers were already at hand.<br /> “Little niche beach communities like Ocean Ridge, Gulf Stream and Hypoluxo Island are in more demand than ever as many of today’s buyers are attracted to small beach communities with low density and smaller number of residents,” he said.<br /> A buyer from Connecticut, shut out in previous deals, made an offer above the asking price in order to secure one property, Presson said.<br /> South Florida always had weather going for it, along with no state income tax, he said. But the pandemic brought new dynamics. It pressed the fast-forward button for many wealthy buyers who had been thinking of it as some balmy destination in the future. <br /> In addition, as working from home became increasingly common in the COVID-19 era, some executives began to see fewer reasons not to move themselves or their companies if they could.<br /> “Instead of waiting until later, now they know there’s an urgency to get it done,” Presson said. “It’s a crazy time.”<a href="{{#staticFileLink}}8740450296,RESIZE_180x180{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}8740450296,RESIZE_180x180{{/staticFileLink}}" alt="8740450296?profile=RESIZE_180x180" width="105" /></a><br /> Demand is clearly outpacing supply, said Michael Mullin III, an agent for William Raveis who specializes in luxury properties in Delray Beach, Gulf Stream, Ocean Ridge and Manalapan.<br /> Rentals have been hard to find and prospective buyers who hoped to visit in person have often found homes snapped up before they can arrive, he said. Recent sales have included a $9.3 million property in Gulf Stream, he said.<br /> The motivations of individual buyers can vary, but many sales seem driven by “major-city flight,” Mullin said.<br /> All of it is pushing price tags higher. In February, the median sales price for single-family homes in South Palm Beach County increased 25% to $475,000 compared to the same month in 2020, according to Martin Group Real Estate, citing data from BeachesMLS. New listings decreased by more than 20% as inventory grew more scarce.<br /> Look at Ocean Ridge. Coz said 10 February sales there represented a 100% increase from the same month of 2020, while March’s pending sales pointed to more in the pipeline.<br /> “I just sold one home in Ocean Ridge to a buyer from New York who hasn’t even seen it,” Coz said.</p></div>Lantana: Less money from sales tax, gas tax to pinch town’s budgethttps://thecoastalstar.com/profiles/blogs/lantana-less-money-from-sales-tax-gas-tax-to-pinch-town-s-budget2020-07-01T14:59:05.000Z2020-07-01T14:59:05.000ZThe Coastal Starhttps://thecoastalstar.com/members/TheCoastalStar<div><p></p>
<p><strong>By Mary Thurwachter</strong></p>
<p>During Lantana’s first budget workshop on June 8, Mayor Dave Stewart warned residents that the upcoming budget years would be very challenging.<br />“Property taxes will bring in about $4 million,” he said. “What it costs to run the town from A to Z for everything we do is about $19-$20 million. Your property taxes are very necessary, but they are only about 20% of what it costs to do all the services.” <br />Other money comes from gas tax revenue, sales tax sharing and revenue sharing from the state. <br />“The state last I heard, with its almost $90 billion budget, was projecting a $5 billion deficit, and that trickles down to everybody,” Stewart said. “Our sales tax receipts are projected to be considerably less — people aren’t buying in the same manner they were before the virus. And of course, with fewer people driving, there’s less gas being purchased. It’s a good thing to have some reserves, because things are going to be very, very tough.”<br />Stewart is proud that the town has built up a healthy $9 million in reserves, something he says took 20 years. The account had just $600,000 when Stewart took office in 2000.<br />“It’s a good thing I’ve been a little cheapskate with spending all these years,” he said. <br />Finance Director Stephen Kaplan, in presenting the budget, said property values increased by $78 million, or 6.9%, to $1.21 billion for the coming fiscal year. That number includes $14.4 million in new construction.<br />Property taxes, using the same $3.5 tax rate as the current fiscal year, would bring in $4.05 million. Total revenue projections are for $12.4 million, an increase of $229,000 compared with the current budget.<br />Kaplan said the town projects receiving $80,000 in federal Community Development Block grants.<br />The town is planning to give employees a 1.5% cost-of-living raise and possible merit raises up to 5% based on annual evaluations.<br />Pension costs are projected at 39.51% of wages for sworn police officers at a cost of $932,000. Pension costs for other employees are 7% of wages with a matching program of up to 2%. The total cost for this is $325,000.<br />Health and dental insurance are expected to increase 20% each for a total cost of $1,720,000.<br />Money the town receives from the penny sales tax surcharge, an estimated $785,500, is earmarked for projects such as a launch deck at Sportsman’s Park ($9,000), beach walkway rails ($120,000), playground relocation and upgrade at Bicentennial Park ($120,000) and paving projects ($450,000).<br />The budget calls for adding a dispatcher and a detective to the Police Department; and reclassifying and promoting several positions in the finance and development services departments.<br />Also on the expenditure list is increasing part-time staff hours at the library and spending $15,000 for books. The library is due for massive renovations and expansion, much of which was covered in the current budget and from donations. The remaining $300,000 will come out of reserves.<br />The town is looking into costs associated with body cameras for police at the mayor’s suggestion.<br />“I know we’ve had this discussion before, but when you see all that we see on TV, that officer from the sidewalk, I really think — and you know how I am about spending money — maybe we should spend money for body cameras to protect ourselves,” Stewart said. “I know that’s a controversial thing.”<br />Kaplan says the town expected to receive certified taxable values from the county’s property appraiser on July 1.<br />A second budget workshop is scheduled for 5:30 p.m. July 13 — the same night a proposed tax rate will be set. There will also be two public hearings on the budget in September.</p></div>Business Spotlight: Single-family home prices rise 7.9 percenthttps://thecoastalstar.com/profiles/blogs/business-spotlight-single-family-home-prices-rise-7-9-percent2017-08-02T13:00:00.000Z2017-08-02T13:00:00.000ZMary Kate Leminghttps://thecoastalstar.com/members/MaryKateLeming769<div><p style="text-align:center;"><strong>Groundbreaking<br /> 3550 S. Ocean Blvd., South Palm Beach – July 12</strong></p>
<p style="text-align:center;"><strong><a href="{{#staticFileLink}}7960735078,original{{/staticFileLink}}"><img src="{{#staticFileLink}}7960735078,original{{/staticFileLink}}" class="align-center" width="600" alt="7960735078?profile=original" /></a></strong><em>A special ceremony was held on site of the long-awaited replacement for the old Palm Beach Oceanfront Inn. The 30 planned luxury condominiums will swell South Palm Beach’s tax base by 25 percent. ABOVE: (l-r) South Palm Beach Councilwoman Elvadianne Culbertson; Douglas Elliman CEO Susan de França; Joe McMillan, chairman and CEO of developer DDG; South Palm Beach Mayor Bonnie Fischer; Douglas Elliman Realty Chairman Howard M. Lorber and Florida Brokerage CEO Jay Parker; and Town Manager Bob Vitas. <strong>Tim Stepien/The Coastal Star</strong></em></p>
<p style="text-align:center;"></p>
<p style="text-align:left;"><strong>By Christine Davis</strong></p>
<p style="text-align:left;">According to the real estate market reports for May, the 4.9 months’ supply of inventory for single-family homes in Palm Beach County is the same as last year. The median sales price has increased 7.9 percent to $335,000. <br /> Year-over-year increases in home sales showed a 45.1 percent increase in the homes sold between $600,000 and $999,999, 19.8 percent increase in homes over $1 million and 18.6 percent increase in homes between $400,000 and $599,999. <br /> Additionally, there was a 4.3 percent year-over-year increase in closed sales to 1,768 with a 14.3 percent increase in cash sales. <br /> “Statistics for May reflect double-digit increases in closed sales above $300,000, which contributed to the rise in our median sale price,” said Jeffrey Levine, president-elect of the <strong>Realtors Association of the Palm Beaches</strong>. <br /> ***<br /> <strong>Douglas Elliman</strong> released its second-quarter 2017 South Florida market reports in July, as written by consultant Jonathan Miller, president and CEO of Miller Samuel Inc.<br /> Highlights that Miller noted in Boca Raton and Highland Beach: “Median sales prices for both property types moved higher; condo sales surged as inventory edged higher, while single-family sales declined and inventory fell sharply; the pace of the market moved a lot faster than the same period last year.”<br /> Compared to the same period a year ago, for luxury condominium sales (with an entry threshold that began at $540,000), median sales price declined 19.8 percent to $842,500. Days on the market were 112, up from 109 days. Listing inventory increased 62.6 percent to 374. For luxury single-family homes (with an entry threshold that began at $1.175 million), median sales price declined 9.1 percent to $1.995 million. Days on market were 165, down from 188. Listing inventory fell 15.6 percent to 353. <br /> Highlights that Miller noted in Delray Beach: “Median price by property type moved higher as did the number of sales; east of Federal Highway, prices showed stability as the houses were smaller this year in square footage; the luxury condo market was up, showing more sales than last year.”<br /> For luxury condominiums (with an entry threshold that began at $458,465), the median sales price slipped 1 percent to $640,000. Days on the market were 116, up from 73. For luxury single-family homes in Delray Beach (with an entry threshold that began at $1,070,000), median sales price declined 9.5 percent to $1,547,500. Days on the market were 118, up from 116. <br /> Miller said it’s important to note that across the area over the past couple of years, “the higher-end markets have noticeably improved from where they were a few years back.” <br /> ***<br /> In the Hypoluxo Island to Highland Beach barrier island area, sales were down significantly for condos, co-ops and single-family homes, marking the fifth consecutive quarter of declines, according to <strong>Corcoran</strong>’s quarterly report. <br /> Also, “there were six fewer sales of single-family homes compared to last year, resulting in a decline in sales of 15 percent. Last year saw four sales over $15 million, including one sale for $40 million, while this year had zero sales over $15 million.”<br /> ***<br /> The <strong>Boca Real Estate Investment Club</strong>’s “Back to School, Real Estate Investing 101” at 7 p.m. Aug. 10 will teach investing basics for new real estate investors. Registration begins at 6:30 p.m. It will be held at 2600 N. Military Trail, Suite 150, Boca Raton. The cost is $10 and free for attendees who present college ID. For information, call 391-7325 or visit <a href="http://www.bocarealestateclub.com">www.bocarealestateclub.com</a>.<br /> ***<br /> The Realtors Association of the Palm Beaches’ <strong>Young Professionals Network</strong> hosts its fifth annual White Attire Fundraiser from 6:30 to 9:30 p.m. Aug. 11 at a multimillion-dollar estate listed for sale in Boca Raton’s Woodfield Country Club. <br /> The event is open to agents and affiliate members of the Palm Beach association as well as the Greater Fort Lauderdale Realtors. Proceeds will benefit the Realtors Helping Realtors Pay It Forward Foundation, which provides financial assistance to agents and their families in times of need, and Rebuilding Together, a division of the Solid Waste Authority that rehabilitates the homes of low-income homeowners. All My Sons Moving & Storage and Cornerstone Home Lending are sponsors. <br /> ***<br /> <a href="{{#staticFileLink}}7960735263,original{{/staticFileLink}}"><img src="{{#staticFileLink}}7960735263,original{{/staticFileLink}}" class="align-left" width="97" alt="7960735263?profile=original" /></a><a href="{{#staticFileLink}}7960735281,original{{/staticFileLink}}"><img src="{{#staticFileLink}}7960735281,original{{/staticFileLink}}" class="align-right" width="96" alt="7960735281?profile=original" /></a> Despite the slowdown in Palm Beach County mansion sales in 2016, six county agents reported sales of $100 million or more, according to the annual <strong>RealTRENDS/<em>Wall Street Journal</em></strong> ranking. <br /> Agents included <strong>Pascal Liguori</strong> of Premier Estate Properties in Delray Beach, who ranked 20th nationally in sales volume with deals that totaled $224.8 million last year, up from his $81.2 million total in 2015. Ranked 30th on the list is <strong>David Roberts</strong> of Royal Palm Properties, Boca Raton, with a sales volume of $180.6 million.<br /> ***<br /> <a href="{{#staticFileLink}}7960735659,original{{/staticFileLink}}"><img src="{{#staticFileLink}}7960735659,original{{/staticFileLink}}" class="align-center" width="600" alt="7960735659?profile=original" /></a><em>The Realtors Association’s Spread the Love food drive brought together (l-r) Harry Drier, Lake Park Food Pantry; Jana Torvia, the association’s Central/South Community Outreach chair; and Jack Porrata, vice chair. <strong>Photo provided</strong></em></p>
<p> </p>
<p>Throughout June, the Realtors Association of the Palm Beaches’ <strong>Community Outreach Committee</strong> collected 1,000 jars of peanut butter and jelly, which it donated as part of the Spread the Love campaign to benefit the Lake Park Food Pantry and Club 100 for local families and children in need of assistance this summer. Club 100 and its 30 pantry volunteers feed more than 400 families monthly and provide clothing and other essential household items.<br /> ***</p>
<p style="text-align:center;"><a href="{{#staticFileLink}}7960735488,original{{/staticFileLink}}"><img src="{{#staticFileLink}}7960735488,original{{/staticFileLink}}" class="align-center" width="600" alt="7960735488?profile=original" /></a><em>The Greater Delray Beach Chamber of Commerce’s Ambassadors Social was July 7 at Crane’s Beach House Boutique Hotel & Luxury Villas. BACK ROW: (l-r) Ed Boyd, Nancy Reagan, Bill Morse, Steve Shelby, Lynn Van Lenten, David Beale, Jeff Dash, Louise Petraitis and Larry Kristiansen. SECOND ROW: (l-r) Rich Pollack, Chris Therien, Sally Areson (seated), Carol Eaton, Monique Young and Jessica Rosato. KNEELING: Diane Jeffers and John Campanola. <strong>Photo provided by Debra Somerville</strong></em></p>
<p><br /> The <strong>Greater Delray Beach Chamber of Commerce</strong>’s July 7 Ambassadors Social, hosted by Crane’s Beach House Boutique Hotel & Luxury Villas, was attended by Chamber ambassadors and their guests.<br /> The ambassadors, a group of 30 volunteers, welcome and mentor new members and attend new-member ribbon cuttings. “The annual social is an opportunity for us to get to relax and celebrate all our efforts. It’s also a way for our leadership team to thank every member for the work each does on behalf of the chamber,” said ambassador Chairman Rich Pollack.<br /> ***<br /> At the 2017 <strong>Golden Bell Education Foundation</strong> Fundraiser, more than 250 people gathered at Piñon Grill in Boca Raton to celebrate Golden Bell’s 26th anniversary as well as the sixth anniversary of the Inner Circle Executive Club. The June event raised $5,500 that benefited the public school system in Boca Raton and local educational programs. <br /> The Boca Chamber’s Golden Bell Education Foundation announced that $85,000 was granted to Boca Raton public schools and scholarship programs for the 2017-18 academic year. Also, applications for the 2017-18 Young Entrepreneurs Academy are now open for middle and high school students in the Boca Raton area. Contact Christie Workman for information on the program at cworkman@bocachamber.com. <br /> <br /> ***<br /> The Boca Chamber and JM Lexus present “<strong>Wine & All That Jazz</strong>,” the Boca Chamber Festival Days signature event, from 7 to 10 p.m. Aug. 26 at the Boca Raton Resort & Club. The event will offer more than 100 wines as well as food from some of Boca’s restaurants. <br /> Boca Chamber Festival Days was designed to connect nonprofit members in Boca Raton with the for-profit community. It runs throughout August and features 22 total events. <br /> A portion of the proceeds from “Wine & All That Jazz” will go to support the efforts of the Golden Bell Education Foundation. To register, visit the Chamber’s website: <a href="http://www.bocachamber.com/events">www.bocachamber.com/events</a>.<br /> ***<br /> The <strong>Boynton Beach Chamber of Commerce</strong> hosts guest speaker <strong>Felicia Combs</strong>, meteorologist on WPTV, at its networking event starting at 11:30 a.m. Aug. 9. The price is $25 for admission purchased online in advance or, if available, $35 when purchased at the door. The event will be at Benvenuto, 1730 N. Federal Highway, Boynton Beach. To RSVP, visit <a href="http://www.boyntonbeach.org">www.boyntonbeach.org</a> or call 732-9501.<br /> ***<br /> After 23 years on South Federal Highway in Delray Beach, <strong>Bill Hood & Sons Art & Antique Auctions</strong> has moved to a bigger location at 2885 S. Congress Ave., units A and B, Delray Beach. Open from 10 a.m. to 5 p.m. daily, the auction house is accepting consignments and holding its monthly auctions at its new facility. <br /> Carolyn Hood, owner partner with her son, Christian Hood, and a third partner, Dan Perry, explains that after all those years, they had “totally outgrown” their location. Also, she said, “Our warehouse had been separate from our business location. It is a dream come true to now have the warehouse and our gallery under the same roof.” <br /> An official grand opening, with a two-day auction, is scheduled for Aug. 15 and 16. A tag sale will also be held on a Saturday following the auction. To find out when, call 278-8996 or email info@hoodauction.com.<br /> ***<br /> <strong> Dash Travel</strong>, an agency established in 1959, has moved to 280 NE Second Ave., Cottage 2, Delray Beach. Very Delray Beach vintage in feeling, Dash Travel is now headquartered in a renovated cottage with a wood interior, efficiency kitchen and designer bath. It is surrounded by tropical landscaping and has ample free parking. <br /> “We are delighted to stay in downtown Delray, while upgrading our headquarters for the discerning traveler,” said owner Jeff Dash. “More than ever, with the internet overload of information, Dash Travel serves to streamline options and offers valued advice and resources so that travel need not be chaotic, messy or confusing.” <br /> For information, visit <a href="http://www.DashTravelandCruises.com">www.DashTravelandCruises.com</a> or drop by its new location. The phone number remains the same: 498-8439.<br /> ***<br /> <strong>Eau Palm Beach Resort & Spa</strong> was included in July’s Travel + Leisure magazine’s annual “World’s Best” list as one of the 10 best resort hotels in Florida. Based on the magazine’s survey of readers, hotels were rated on their facilities, location, service, food and overall value. <br /> ***<br /> Members of <strong>Liberty Property Trust</strong>’s South Florida office spent June 16 at the Palm Beach County Food Bank, organizing and packing food for families as part of the 14th annual Bill Rouse Day of Caring. The company’s offices in the United States and United Kingdom closed for a day of service in memory of founder Willard G. Rouse III. <br /> ***<br /> For its fourth event this summer, the <strong>League of Women Voters of Palm Beach County</strong> hosts a free panel discussion on “Fake News (Alternative Facts or Just Not True)” from 9 to 11 a.m. Aug. 12 at the Palm Beach Post Auditorium, 2751 S. Dixie Highway in West Palm Beach. Speakers include Howard Goodman, editorial writer at <em>The Palm Beach Pos</em>t; panel moderator Joyce Reingold, former publisher of the <em>Palm Beach Daily News</em>; Brett Sandala, founder of Ocean Drive Social, a brand consulting firm specializing in social media marketing and online branding; and Brian Williams, former managing editor of the <em>National Enquirer</em>. <br /> This presentation is underwritten by Lytal, Reiter, Smith, Ivey & Fronrath. People interested in attending are encouraged to register in advance at <a href="http://www.lwvpbc.org">www.lwvpbc.org</a>.<br /> <em> </em><br /> <em>Send business news to Christine Davis at cdavis9797@gmail.com</em></p></div>Delray Beach: Sunday morning alcohol sales approvedhttps://thecoastalstar.com/profiles/blogs/delray-beach-sunday-morning-alcohol-sales-approved2013-12-04T21:15:40.000Z2013-12-04T21:15:40.000ZMary Kate Leminghttps://thecoastalstar.com/members/MaryKateLeming769<div><p>Alcohol can now be sold on Sunday mornings at Delray Beach grocery and convenience stores.<br />City commissioners approved an ordinance change on Dec. 3, making Delray the last city in Palm Beach County to allow alcohol sales between 7 a.m. and noon on Sundays.<br />Commissioner Angeleta Gray said she had received complaints from residents who had to drive to Boca Raton to buy beer and wine for their Sunday parties.<br /> “I’m happy that our business owners now can receive those revenues,” Gray said.<br /><em>— Tim Pallesen</em></p></div>Boca Raton: Luxury condo sales picking uphttps://thecoastalstar.com/profiles/blogs/boca-raton-luxury-condo-sales-picking-up2013-07-03T17:18:41.000Z2013-07-03T17:18:41.000ZChris Felkerhttps://thecoastalstar.com/members/ChrisFelker<div><p><a href="{{#staticFileLink}}7960453690,original{{/staticFileLink}}"><img width="750" src="{{#staticFileLink}}7960453690,original{{/staticFileLink}}" class="align-center" alt="7960453690?profile=original" /></a></p>
<p style="text-align:center;"><em>With panoramic water views, One Thousand Ocean appeals to affluent buyers.</em></p>
<p style="text-align:center;"><span><b>Photo provided</b></span></p>
<p><b>By Christine Davis </b></p>
<p> During the past year, there have been eight luxury condo sales for more than $5 million in Boca Raton — and all of them at One Thousand Ocean. </p>
<p> On June 4, “The Shore” penthouse sold for $11,678,000, one of the highest-priced condominium residences ever to sell in the history of the county. This follows two Palm Beach sales: an oceanfront unit, S-34 in Two North Breakers Row, for $11.95 million recorded on May 21; and No. 6A in Il Lugano, recorded on May 15, for $17.45 million. </p>
<p> With “The Shore” gone, there are no more penthouses available at One Thousand Ocean. In fact, only two residences of 53 remain: Residence 208 priced at $2.9 million; and Residence 601, where a key scene in the action thriller <i>Parker</i> (Jennifer Lopez, Jason Statham) was filmed on location, priced at $6.4 million. </p>
<p> Total closed sales dollar volume for 51 units at One Thousand Ocean is approximately $243 million. </p>
<p> These recent sales certainly made Jamie Telchin’s day. President of development for LXR Luxury Resorts & Hotels, he’s delighted. And thankful.</p>
<p> “Our story is a rare good story, and I’m very proud of our team and partners holding the line,” he said. </p>
<p> Keep in mind that this development was conceived in 2006; broke ground in 2007; and finished in February 2010, right in time and all in line with the real estate downturn. </p>
<p> “The big story here, we decided to build it when the market was showing signs of tanking, and we stuck with it. We tried to maintain prices as best we could. We’ve sold the lion’s share, and now we are looking at selling the rest of the building out. </p>
<p> “I feel lucky,” he said. “We didn’t get into fire selling; we weathered the storm; and we had some fortuitous situations develop that worked to our benefit.” </p>
<p> The first of the last five sales in March really got the ball rolling and the word out, he said. </p>
<p> “Three were Boca residents who’ve been watching; the other two were international buyers. The first, who bought a penthouse, was focused on Miami and the Sunny Isles market, but thought there was better value here, and they liked the fact that they could customize their unit. The last penthouse buyers were friends of theirs.” </p>
<p> “The Shore,” with 7,550 square feet of living space and 4,591 square feet of wraparound terraces, is ready to be built out. The unit offers southern views over the Boca Raton Inlet and ocean shoreline, as well as northern and western Intracoastal panoramas. </p>
<p> Highlights include a private elevator lobby, 14-foot ceilings, floor-to-ceiling walls of glass, a freestanding glass-enclosed area on one of the terraces, an outdoor kitchen, a cabana and three-car parking. Building residents may elect private membership at the Boca Raton Resort & Club. </p>
<p> Tim Shane with Meridian Realty in Boca Raton represented the buyers in the transaction. “We showed them all the top buildings in Boca. There are about 10 on the beach,” he said. “There’s not much competition to One Thousand Ocean. It’s newer and higher-end than the other properties. The gorgeous views were most important to them. </p>
<p> “We’re rocking and rolling. International buyers are buying the Boca Club lifestyle and they are buying the beach. I have quite a few more acquaintances who are coming over, and I’ll be selling more.” </p>
<p> Boca Raton does appear to be on the upswing. According to Realtors’ Association of the Palm Beaches April report, closed sales year-to-date are at 1,385, an 18.2 percent increase over last year. The median sales price is at $230,000, up 21.1 percent over last year, and days-on-the-market is at 133, down 19.2 percent. </p>
<p> “We are seeing affluent buyers turning to the real estate market and buying ultra-luxury units,” said Jack McCabe of McCabe Research & Consulting. “They are paying cash, and if financed, they pay cash and refinance after the acquisition. It’s good news for those developers and unit owners who will be trying to sell in the near future,” he said. </p>
<p> “It does appear that the ultra-luxury condo market has come back this year. It will be interesting to see if it lasts, because we are seeing a buyers’ frenzy right now, created by hedge-fund acquisitions that have developed inventory in all markets. In particular in Florida, they’re targeting the Tampa area and southeast Florida as their top markets in all price ranges.” </p>
<p> The market in Highland Beach doesn’t “rock and roll” quite as much, according to the Realtors’ Association April report. Closed sales, year-to-date, are at 68, down 5.6 percent; and the median price is at $360,000, down 5.9 percent. Days-on-the-market, however, is at 164, down 26.4 percent.</p></div>Along the Coast: Boat sales motoring out of recessionhttps://thecoastalstar.com/profiles/blogs/along-the-coast-boat-sales-motoring-out-of-recession2013-04-03T19:00:00.000Z2013-04-03T19:00:00.000ZMary Kate Leminghttps://thecoastalstar.com/members/MaryKateLeming769<div><p style="text-align:center;"><strong><a href="{{#staticFileLink}}7960436061,original{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}7960436061,original{{/staticFileLink}}" width="360" alt="7960436061?profile=original" /></a></strong><em>This year’s Palm Beach International Boat Show brought 600 vessels worth more than $1.2 billion. <strong>Cheryl Blackerby/The Coastal Star</strong></em></p>
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<p><strong>By Cheryl Blackerby</strong><br /> <br /> More than 44,000 boat lovers attended the Palm Beach International Boat Show, one of the top boat shows in the country. The show, held March 21-24, featured more than $1.2 billion worth of boats, yachts and accessories from the world’s leading marine manufacturers.<br /> It was a 10 percent increase in attendance over the previous year and a 30 percent increase in the number of boats in the show — about 600 total, from small fishing boats to super yachts. Space for boats was sold out early, said a boat show official.<br /> The show reflects a rising interest in boat and yacht sales. Florida led the country in boat sales in 2011 with about $1.5 billion. <br /> Sales of new powerboats in 2012 increased 10 percent over the previous year, and early projections indicate the industry will see additional increases in 2013 by as much as 5 to 10 percent, according to the National Marine Manufacturers Association. <br /> The star of the Palm Beach show was the largest boat, Kismet, and at 223 feet it’s aptly described as a super yacht. Built by Lurssen, the yacht is listed for $100 million, and leases for about $700,000 a week plus brokerage fees, which adds up to about $1 million a week. The agency selling the yacht is Moran Yacht and Ship based in Fort Lauderdale. The sleek yacht sleeps 12 in six staterooms.</p>
<p style="text-align:center;"><a href="{{#staticFileLink}}7960435678,original{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}7960435678,original{{/staticFileLink}}" width="360" alt="7960435678?profile=original" /></a><em>The asking price for Diamonds are Forever: $59.5 million. <strong>Photo provided</strong></em></p>
<p><br /> Another show-stopper was the 200-foot Diamonds are Forever, built by Benetti, displayed by Worth Avenue Yachts. The price is $59.5 million. The six-deck super yacht features two panoramic master suites and four guest staterooms. Elevators take guests to all decks, including the full-beam sky lounge. The aft part of the sun deck can be transformed into a helipad.<br /> “A 10 percent boost in retail in 2012 is significant, as this is the first time since the recession we saw healthy growth across the powerboat market, which will create momentum in 2013,” said Thom Dammrich, NMMA president. <br /> An improved economy and resurgence in American’s love for the outdoors fueled the sales boost, he said. <br /> The U.S. boating industry generates about $30 billion in annual revenue, according to Dammrich. <br /> Smaller boats — less than 27 feet — make up 96 percent of the 12.4 million registered boats in the U.S., “and are leading the industry out of the recession,” he said. </p>
<p>But super yachts, bought by billionaires such as Carlos Slim of Mexico, are doing well and sailed through the recession. </p></div>Real Estate: Realtors’ sales recognized; most trending upwardhttps://thecoastalstar.com/profiles/blogs/real-estate-realtors-sales-recognized-most-trending-upward2012-08-01T19:17:33.000Z2012-08-01T19:17:33.000ZMary Kate Leminghttps://thecoastalstar.com/members/MaryKateLeming769<div><p><strong>By Christine Davis</strong><br /> <br />Nine South County Realtors were named on the sixth annual “Top 250” lists of U.S. agents in The Wall Street Journal/REAL Trends Thousand report. Compiled as part of a special advertising section co-sponsored by The Wall Street Journal and Real Trends, the ranking was based on either the total dollar amount of their 2011 “closed transaction volume” or on the number of closed transactions for both Realtors and Realtor teams.<br /> Three area Realtors ranked in the category of Top 250 sales professionals by closed transaction volume. David W. Roberts of Royal Palm Properties in Boca Raton was ranked No. 16 on the list, with a reported transaction volume of $148,960,275. Pascal Liguori of Premier Estate Properties in Delray Beach was ranked No. 49, with a volume of $85,850,000 followed by Scot Karp, of Premier Estate Properties in Boca Raton, who ranked No. 132 with a volume of $51,584,500.<br /> Each was also on the 2011 list. Last year, Roberts ranked No. 36 with $88,542,000; Liguori ranked No. 50 with $72,465,000 and Karp placed No. 234 with $36,992,500.<br /> Roberts, Royal Palm Properties broker/owner, said he’s lived and worked in the Royal Palm Yacht & Country Club for more than 25 years. “I’m established in that community. When it was time to re-price the market, people listened to me because of my longevity.<br /> “Interestingly, last year, a lot of my clients came from within the community. People bought additional or adjoining properties, so that helped the market.”<br /> In 2009, Robert was No. 7 on the list with a volume of $123,938,332. <br />“In 2010, I was No. 36. When the banking crisis came to the forefront, people were immobilized and didn’t take action. It took them to 2011 to feel confident again.”<br /> Concerning this year’s volume, Roberts says he’s having a good year and is on track again.<br /> Broker associate Pascal Liguori of Premier Estate Properties in Delray Beach said he’s proud to have maintained his ranking on the list, and has done so for the past four years, consecutively.<br /> “Agents from New York and California tend to dominate the list because their price-per-property is much higher, but the market shows significant improvement from two years ago. The number of closed transactions for single-family residences is up in my area, which includes Delray Beach, Gulf Stream, Ocean Ridge and Manalapan,” he said.<br /> “Also, sale prices are rebounding, days on the market is down and inventory of active listings for sale has gone down from a year ago. June is a benchmark, and I see I’m on track to rank on the list again in 2013.”<br /> Scot Karp, director of the ultra-luxury division of Premier Properties in Boca Raton, attributes his higher placement on the list to be the result of the timing of his transactions coming together.<br /> “I don’t see the market as getting stronger, but it’s starting to stabilize,” he said. <br /> “We did make more transactions in 2011, and, so far, I’m on track for similar production this year. We are seeing that the ease of lifestyle of these condominiums has drawn people.”<br /> One individual Realtor and two Realtor-teams also placed in two of the three additional categories. In Top 250 sales professionals by closed transaction sides, Diane Keane of Coldwell Banker Palm Beach/NRT in Delray Beach, ranked 244 with 125.25 transactions.<br /> In the Top 250 Teams by Closed Transaction Volume category, the Carmen D’Angelo/Joseph Liguori/Gerard Liguori team of Premier Estate Properties in Boca Raton, ranked No. 63 with a reported transaction volume of $90,512,500, followed by the Mark Nestler/John Poletto team of Nestler Poletto Sotheby’s International Realty in Boca Raton, who ranked No. 124 with a reported transaction volume of $65,385,550.<br /> While Real Trends requests surveys from a wide variety of sources, sales professionals who meet Real Trends’ minimum threshold of business may also request an application. A $25 application fee per person is required upon submission. Data must be verified by an independent source and staff at Real Trends reviews submissions for accuracy. <br /> According to the July 19, 2012, report from the Realtors’ Association of the Palm Beaches, closed single-family home sales increased 65.2 percent, up from 824 in February 2012 to 1,361 in June 2012. The median single-family home in Palm Beach County increased 18.4 percent, up from $190,000 in February to $225,000 in June. The median price of townhomes and condos increased 17.3 percent, up from $75,050 in February to $88,000 in June, and closed sales increased 37.6 percent up from 913 in February to 1,256 in June. <br /> In Delray Beach, June’s year-to-date closed sales were 2.6 percent lower than in June year-to-date 2011. New listings were up 12 percent. Properties were on the market for 142 days and the percentage of the original price received was 86.2 percent, representing a 2 percent increase. The median price is up 34.8 percent, to $120,000. In Boca Raton, closed sales were down 9.8 percent. Properties were on the market for 160 days and the percentage of the original price was 86.4 percent. The median price was up 14.5 percent, to $229,000. </p></div>