DDG broke ground Wednesday on its condo project 3550 South Ocean, marking the first new luxury beachfront residential building to be built in Palm Beach in more than a decade.
New York-based DDG launched sales early this year on the seven-story, 30-unit project. Presales are now at 20 percent, according to a release. Two- and three-bedroom condos start at $1.875 million.
DDG declined through a spokesperson to discuss financing for the project.
DDG Chairman and CEO Joe McMillan, Douglas Elliman Chairman Howard Lorber and South Palm Beach Mayor Bonnie Fischer attended the groundbreaking.
The project is being designed by Garcia Stromberg of Palm Beach, Kobi Karp Architecture of Miami and Champalimaud of New York. Each unit will span from 2,700 square feet to more than 3,000 square feet, and will feature direct elevator access, private entry foyers, balconies and direct water views. Five penthouses will also have private rooftop terraces. All the condos will be delivered move-in ready, according to the release.
Amenities will include beach access, a beachfront salt water swimming pool and sun terrace, a fitness studio, on-site surf board and stand-up paddleboard storage, private gated access and private parking. Additionally, DDG has a partnership with The Wright Fit, to provide such services as massages, indoor and outdoor private training, yoga and youth fitness for residents. DDG will also have a partnership with Star Jets International.
Completion of 3550 South Ocean is expected in late 2018. —
Ina Cordle - The Real Deal - South Florida Real Estate news