Ocean Ridge
Real Estate
350-Unit Apartment Community in Palm Beach County Acquired for $144 Million
The Dermot Co., a New York-based real estate investment firm, has purchased The Quaye, a 350-unit luxury apartment community in Palm Beach County, for $144 million, according to a report from Multihousing News. The property, located at 1090 Quaye Lake Cir, Wellington, FL 33411, was built in 2017 and consists of 33 buildings with a mix of 104 one-bedroom apartments and 246 two- to four-bedroom townhouses, the report stated.
Florida Penthouse Sold for $16 Million in Exclusive Off-Market Deal
A stunning penthouse in Palm Beach has just been sold for a whopping $15.7 million, and it’s turning heads in the real estate market! The luxurious Penthouse A at the six-story Kirkland House condo, located at 101 Worth Ave, was sold by a trust associated with Torrington, Connecticut developer Roderic M. Oneglia. The lucky new owner? Nicholas Adams.
South Florida Foreclosure Rates Among the Highest in the Nation, Report Says
South Florida’s booming real estate market may be cooling off, and there are growing signs of economic strain. According to a new report, the region is now facing some of the highest foreclosure rates in the country.
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