Exclusive | Michael Dells $875M bet in Boca Raton is paying off as $9M condos get snapped up
Michael Dell’s investment in Boca Raton’s luxury real estate market is proving successful.Buyers have claimed roughly 40% of the condos planned at The Boca Raton in just a few months, a rep for the project told The Post.The 75 homes, located at 501 E Camino Real, mark the first time the 100-year-old Florida resort has sold residences on its grounds.
Prices run from $8.95 million to more than $20 million for three to five bedrooms.The cheapest unit now costs more than twice what was first floated.Bloomberg previously reported a starting price of $4 million, and a May sales announcement put the floor at $5 million with two-bedrooms in the mix.The lineup includes terrace units, penthouses and three villas that come with their own gardens, plunge pools and outdoor kitchens, according to the resort.
Owners get butler service at home, with childcare and pet care on the menu.Newly released photos obtained by The Post show renderings of the residences being built.
The building’s private perks include a rooftop pool with cabanas, a spa with a hammam and thermal suites, a gym with a Pilates studio and a golf simulator.There is also a card room and a residents’ lounge with its own bartender.“Homeowners will enjoy a highly amenitized lifestyle serviced by the resort, which includes 45,000 square feet of private indoor and outdoor amenities and a one-of-a-kind Residential Club Membership that extends to owners’ parents and children,” Sabrina Gleizer, a partner at developer BDT & MSD Partners, said in a statement.She called the project “a truly unique offering.”The membership may be the real prize.
The resort says it created a new top tier for condo owners that covers relatives from grandparents to grandchildren and stays attached to the home.Architect Addison Mizner opened the resort in 1926.Today it has about 1,000 rooms spread across five hotels, plus a beach, golf course, marina, spa and tennis courts.
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