1980 to 1982

2851 S. Ocean Boulevard, Boca Raton

Condo-Conversion

7-story, 127 condominiums on A1A across from the beach

Opportunity:  Built in the mid-1960’s, the out-of-state owners had badly neglected the aging rental property for many years.  The building having 127 one, two and three-bedroom units, was acquired in early 1980.

Task:  The challenge was the extensive repairs required to renovate the ocean-ravaged units and improve the property as a whole, convert it into condominiums, and to market them in a very competitive market that was slowly becoming saturated.

Results:  While the project took 24 months from beginning to end, its sales were completed in 18 months.