Eturna Boutique Condominium: A New Milestone on Hollywood Beach

Overview of Eturna

The Eturna condominium project is making waves along Hollywood Beach, with initial sales indicating strong interest from buyers. Approximately 40% of the units have already found buyers even before construction is completed, which is expected to wrap up by fall 2024.

Key Details About Eturna Condos

• Development Size: Eturna features a seven-story structure with 36 residential units.
• Unit Pricing: Pre-construction buyers are securing units at prices soaring up to $1,400 per square foot. The villas are priced as high as $3.75 million, while condos can reach up to $2.1 million.
• Unit Variations: The development includes 26 units ranging from 1,000 to 1,500 square feet and 10 villas between 2,300 to 3,000 square feet.

Developers Behind Eturna

The project is a collaborative effort by three co-developers:

• Mark Drachman
• Allen Konstam: Both affiliated with Condra Property Group LLC, based in Miami Beach.
• Husein Sonara: Operates with Hansford Boca LLC, contributing as the project’s construction manager.

Mark Drachman noted, “There really hasn’t been a building built like this in Hollywood Beach since the Positano, which opened nearly two decades ago."

Financial Backing and Construction Timeline

Eturna’s construction commenced with the foundation completed in November 2023, followed by a groundbreaking in April 2024. The project is supported by a $33 million debt financing package from Toronto-based Romspen Investment Corp, with a total funding of approximately $50 million from both debt and equity sources.

Exclusive Architectural Design

Designed by Hollywood-based Kaller Architecture, Eturna emphasizes luxury and modern living. The development stands out due to its location at 3319 North Ocean Drive, just south of the well-known Villas of Positano.

Buyer Demographics

The buyers at Eturna reflect a diverse range of backgrounds:

• Local Residents looking for primary residences.
• East Coast Residents from states like New York seeking secondary homes.
• International Buyers aiming for a beachfront getaway.

Recent Developments by Condra Property Group

In addition to Eturna, the developers have a strong presence in the Hollywood area. Highlights include:

• Acquiring Nine Hollywood, a 12-story building with 204 units by utilizing funding from a New York-based crowdfunding platform, FundRebel.
• Planning a 17-story mixed-use development at 2115 North Ocean Drive, which includes 282 apartments with designated workforce housing. Unfortunately, Hollywood City rejected this height application, leading to ongoing litigation over the decision.

Conclusion: A Promising Future

The Eturna project not only signals a revitalization for Hollywood Beach but also reflects a strategic approach to modern living and luxury real estate development. With its strong early sales and unique design, Eturna is set to become a premier destination on South Florida’s coastline.

For more information on luxury condos and real estate trends, visit The Real Deal.

FAQs

What is Eturna?

Eturna is a new boutique condominium being built on Hollywood Beach, consisting of 36 units ranging from luxury condos to villas.

When is the completion date for Eturna?

Construction is expected to complete by fall 2024.

How much do the units cost?

Prices for the units start at approximately $1,400 per square foot, with villas priced up to $3.75 million and condos up to $2.1 million.

Who are the developers of Eturna?

The project is developed by Mark Drachman, Allen Konstam, and Husein Sonara.

Explore further real estate opportunities in Hollywood by visiting Condra Property Group and learn about their latest projects.