SOUTH FLORIDA NEWS - Larry Mastropieri

City of Boca Raton Approves Glass House Project, A New Intimate Luxury Development

The City of Boca Raton has given the green light for the development of Glass House Boca Raton, a 9-story luxury residential building, marking the first modern glass structure in downtown Boca Raton. Approved on August 26, 2024, this exclusive project is set to be completed by the fourth quarter of 2026. Located at 280 E Palmetto Park Road, the development will offer a blend of upscale living and cutting-edge design, with a total of 28 luxury residences and rooftop amenities.

Sales Launched and Groundbreaking Scheduled 

Sales for the Glass House Boca Raton residences began in February 2024, with groundbreaking expected to take place in Q1 2025. Designed by an expert team that includes renowned architecture firm Garcia Stromberg, celebrity…

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Billy Joel Finds Buyer for Massive Florida Estate

After years of trying to sell his enormous Florida estate, it looks like Billy Joel, the legendary "Piano Man," is finally set to part ways with his luxury property in Manalapan. The estate, located at 1110 S Ocean Blvd., has a pending offer after Joel slashed nearly $15 million from its asking price.

Joel, a six-time Grammy Award-winning singer and songwriter, originally purchased the Mediterranean-style compound in 2015 for $22.1 million, according to property records. In 2018, he listed the 13,349-square-foot estate for $31.9 million but found no buyers. The home was taken off the market, only to reappear in 2022 with a much higher price tag—$64.9 million.

Over time, Joel gradually reduced the asking price, most recently listing it for $49.9…

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Who gets first priority to live in this new West Palm Beach building

Finding affordable housing has been a challenge for many in West Palm Beach as housing costs continue to rise. However, a new development in the city is set to offer much-needed relief for local workers, with 117 units earmarked for workforce and affordable housing at The Spruce in Northwood Village.

The Spruce Development: A Blend of Housing and Retail

Located between 24th and 25th streets on Spruce Avenue, The Spruce is a mixed-use development currently under construction. In addition to housing, the project will feature ground-floor commercial space and a parking garage topped by a rooftop pool offering views of the ocean and downtown West Palm Beach. Of the 270 units planned, 109 will be designated as workforce housing, while 8 units will be set…

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Riviera Beach board advances $500 million mixed development project

The Riviera Beach Community Redevelopment Agency (CRA) has advanced the $500 million Oculina project, a towering 25-story mixed-use development, after a unanimous board vote to send it to City Council for approval. Since CRA members are on the City Council as well, Oculina’s likely to receive the green light to start construction. The project will replace an abandoned grocery store with 399 residential units, 9,680 square feet of retail space, 17,120 square feet of restaurant space, and 11,000 square feet of office space.

"This project will establish a new, high-quality development standard in the Broadway corridor," said Scott Evans, Director of Planning and Development for the CRA. Oculina is strategically located in an area city officials have…

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West Palm Beach’s Historic District Faces New Wave of Waterfront Development

The historic Northwood Harbor district in West Palm Beach, a community over a century old, is experiencing a surge in waterfront development, sparking both excitement and concern. Once overlooked, this neighborhood along North Flagler Drive has caught the attention of developers eager to capitalize on the growing demand for luxury living, especially following the pandemic’s shift in buyer preferences.

The Rise of New Developments

Within the past year, numerous high-rise luxury condominium proposals have emerged for an eight-block stretch adjacent to Northwood Harbor. Construction has already begun on the 22-story Alba Palm Beach condominium, and adjacent plots are now being eyed for further development.

Alba Reserve, a new luxury project…

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Cheesecake Factory and Office Building Near Boca Raton Mall Sold for $32M, Nearly Tripling in Value

A prime property near Boca Raton’s Town Center Mall, home to a busy Cheesecake Factory and a six-story office building, has been sold for $32 million, marking a substantial increase from its previous sale price of $13.25 million in 2001. After a long-term hold, the property's value has nearly tripled, reflecting the growing demand for commercial real estate in this popular area.

The 6.6-acre site includes a 71,865-square-foot office building, built in 1980, which houses prominent tenants such as Flagstar Bank/AmTrust, Shafer Cohen LLP, and Town Center Executive Suites. While much of the building is leased, 11,688 square feet remains available, with an asking rate of $26 per square foot, according to a recent listing.

The Cheesecake Factory,…

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Housing Prices continue to rise during sales slow-down in Boca Raton

The real estate market in Boca Raton and Delray Beach continues to hold strong, even as home sales show signs of slowing. The latest Elliman Report, produced by Miller Samuel Real Estate Appraisers and Consultants, reveals that while prices have dropped slightly from the first to the second quarter of 2024, homes in both areas are still commanding significant increases compared to last year.

Boca Raton: Strong Prices Despite Slight Drop

In Boca Raton, the average sales price of a single-family home dropped 6% from the first quarter to the second quarter of this year, now sitting at $1,739,413. While this is down from the first quarter's average of $1,852,708, the market remains robust with a 22.8% increase year-over-year. This time last year, the…

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What’s Killing The Great Migration and Why it Matters

The Covid-19 pandemic sparked one of the most significant relocation shifts in recent U.S. history, known as *The Great Migration*. Millions of Americans moved to new cities and states, driven by the rise of remote work, low interest rates, and a desire for more space. But today, this migration wave is rapidly slowing, leaving many wondering: Why is The Great Migration dying, and why should you care?

What Fueled The Great Migration?

At its peak, The Great Migration was driven by a perfect storm of economic factors. Remote work allowed people to leave expensive urban centers for more affordable areas. Interest rates hit historic lows, making it easier for people to buy homes. Federal stimulus checks and increased savings during lockdowns gave…

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Designs Unveiled for $495 Million Train Bridges in Fort Lauderdale’s New River

Broward County has revealed three new design concepts for two rail bridges that will span Fort Lauderdale’s New River, signaling a significant step forward for the region’s future commuter train network. Estimated to cost up to $495 million, these bridges are aimed at alleviating congestion for both freight and passenger trains, including Brightline, and are part of broader plans to expand rail service from Jupiter to Miami along the Florida East Coast (FEC) Railway tracks.

The Need for New Infrastructure

Currently, trains using the 1970s-era drawbridge, which sits just 4.5 feet above the water, cause frequent disruptions to boat traffic on the New River, a key part of Broward County's $9 billion marine industry. As the bridge closes dozens of times…

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New Contracts on the Rise in Palm Beach County: What It Means for Buyers and Sellers

The real estate market in Palm Beach County is starting to turn around, offering encouraging news for sellers. For the first time in months, the number of newly signed contracts has increased, signaling a potential shift in the market. However, with the number of new listings also on the rise, competition remains strong, making it an intriguing time for both buyers and sellers.

Homes for sale

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