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Cashflow In Miami
October 24, 2021
Soffer is after Jupiter oceanfront :)

1500 Beach Road, Village of Tequesta

300 Beach Road , Village of Tequesta

SeaGlass Jupiter Island, a 10-story, 21-unit project at 1500 Beach Road, is being developed by Fontainebleau Development and Perko Development Partners. It is on 170 linear feet of Atlantic Ocean beach and Intracoastal frontage and is near Blowing Rocks Preserve.

Residences priced from $5.9M to over $10M. It will have three- and four-bedroom units, ranging in size from 3,781 square feet to 5,323 square feet.

The project will feature private terraces with summer kitchens and private air-conditioned, two-car garages for every residence. Amenities will include an infinity-edge heated swimming pool with a heated relaxation spa, a poolside sandy beach, a beachside summer kitchen and outdoor viewing terrace. Seaglass also will feature weight training and cardio equipment, and a yoga and meditation lawn.

Seaglass is designed by Swedroe Architecture, which built the Jupiter Yacht Club and three beachfront Jupiter Island towers that are often referred to as the “Three Cs:” The Cliveden, The Claridge and The Carlyle. New York-based Champalimaud Design is the interior designer. Among other recent projects, Swedroe also designed Soffer’s Turnberry Ocean Club in Sunny Isles Beach, which is nearing sell out; and the Shoreline, twin towers at Solé Mia in North Miami - the city in its own, slowly being erected.

The latest news- Soffer is buying an oceanfront building bulk walking distance from Seaglass!! A company led by Jeffrey Soffer, the head of Aventura-based Fontainebleau Development, bought out the majority of a condominium on the beach in Tequesta.

The individual owners at Island House SouthEast sold 24 units for a combined $30.59 million over the past week to 300 Beach Road Developer LLC, managed by Soffer. Motcomb Estates Ltd provided a $37.05 million mortgage to the buyer. The deal is in partnership with Perko Development Partners, led by Phil Perko, in Jupiter.

Only three condos in the building have not yet been closed on by Soffer's company.

The price equated to $1.27 million per unit at 300 Beach Road. Before this, recent sales in the building were for well under $1 million.

Island House SouthEast was built in 1967. Repair work was recently done to the building.

Perko said their goal is to terminate the condo and redevelop the site as a luxury condo.Seaglass II??:)

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