A Michael Dell-backed development at The Boca Raton resort has attracted buyers for roughly 40% of its planned luxury condominiums, according to a project representative. The 75 residences mark the first homes sold on the grounds of the century-old resort. Prices now begin at $8.95 million, substantially above earlier reported estimates.
Key takeaways
- Buyers have claimed roughly 40% of the 75 planned residences, according to the project.
- Prices start at $8.95 million, with larger homes priced above $20 million.
- The eight-story building is expected to begin construction late this year and be completed in 2029.
- Condo ownership is set to include extensive resort amenities and a family membership.
Prices and residence options
The residences are planned for 501 E. Camino Real in Boca Raton. The project is the first time the resort has offered homes for sale on its grounds. The reported starting price has risen from earlier figures: Bloomberg previously reported $4 million, while a May sales announcement put the starting point at $5 million.
The 75-home collection will include terrace residences, penthouses and three villas. Larger three- to five-bedroom homes are priced at more than $20 million. The villas are planned with private gardens, plunge pools and outdoor kitchens. Interiors are to feature deep terraces, full-height glass, white oak and marble, along with Sub-Zero, Wolf and Cove kitchen appliances.
Resort-style services and amenities
The development is designed to pair private residences with hotel services. Owners are expected to have access to at-home butler service, childcare and pet care, as well as a rooftop pool with cabanas, a spa, a fitness center with a Pilates studio, a golf simulator, a card room and a residents’ lounge.
BDT & MSD Partners partner Sabrina Gleizer said the project would include 45,000 square feet of private indoor and outdoor amenities. A new Residential Club Membership is planned to extend to owners’ parents and children and remain attached to the home, according to the project’s description.
A major expansion for a historic resort
Architect Addison Mizner opened The Boca Raton in 1926. The resort now has about 1,000 rooms across five hotels, as well as a beach, golf course, marina, spa and tennis courts. The residences add a for-sale housing component to a property previously centered on hotel stays and resort facilities.
Michael Dell’s MSD Partners acquired the resort for $875 million in 2019 and later combined with Byron Trott’s BDT & Co. The merged firm has invested about $375 million in upgrades and secured a $1 billion refinancing. The renovation included changes to the main building and dining options.
Timeline and design
Boca Raton’s city council approved the eight-story condominium building in March. Construction is expected to start late this year, with completion targeted for 2029. Hart Howerton is designing the exterior with ivory stucco, shell stone and bronze accents; Pembrooke & Ives is responsible for interiors intended to reference Mizner’s style.
The resort is near Royal Palm Yacht & Country Club, where recent high-end home sales have included a $75 million property, reported as a Boca Raton record. The planned condominiums enter a local luxury market where prices have recently reached that level for individual houses.