Article Courtesy of The Palm Beach
By Angel Streeter
March 9, 2010
Eden Condominium, a high-profile eyesore and long-festering annoyance for
unit owners and Boca Raton officials, finally might be on its way to
Capital Partners of West Palm Beach has bought the property from Ceebraid-Signal
Corp., brokerage Apartment Realty Advisors said this morning. The deal was
arranged by brokers Hampton Beebe, Avery Klann and Marc deBaptiste.
property will be completed and marketed as the standard of
luxury rental living in Boca Raton,” Beebe said in a
statement. “Priderock has approved plans in place
for an extensive rehab, including completing the clubhouse
and re-construction of the unfinished apartment
buildings.”No price has been recorded yet. Eden was the
rare condo project that fell apart amid the boom.
Construction there has been stalled for years.
year, Florida Attorney General Bill McCollum accused
Ceebraid-Signal of using “deceptive and unfair”
tactics to sell units at Eden. From 2003 through 2006,
sold condos at the 204-unit project at 300 W. Palmetto Park Road and 301
S.W. First St. in Boca Raton.
completed only two of the four buildings it proposed and closed on only 27
units. Two of the complex’s buildings are hulking shells that have sat
empty for years, and a clubhouse, pool and garden were never completed.
investment firm plan to buy Eden condos in Boca Raton