Article Courtesy of The Palm Beach Post

By Kimberly Miller  

Published November 23, 2014

Deep-pocketed buyers snatched up 22 units in the luxury Palm Beach Gardens project of Azure during its first few weeks of sales.

Many units were reserved even before the sales center could officially open Wednesday night. Units at the luxury condominium range in price from between $900,000 and $2 million.

The 113-unit waterfront complex off Donald Ross Road and Prosperity Farms Road is being led by Frankel Enterprises, developer of the Jupiter communities of Admiral’s Cove, Valencia and San Michele. The development is on 14 acres, and will include two buildings with four floors of living space above an enclosed parking garage. A 24-hour manned and gated entry, fountains and garden walks are also included.

The first building, which is now nearly half sold out, is expected to be completed by mid-2016.

Considered a boutique condominium, units can be as large as 3,800 square feet, with double master bedrooms, and dock access for boats.

Property records show the land was purchased in April for $10 million.

Allen Ball, director of sales for Azure, said buyers were a mix of people who plan to live there full time and those who are using the complex as a second home.

The median sales price for a condominium in Palm Beach County last month was $130,000, up 9 percent from the same time in 2013.

According to the Realtors Association of the Palm Beaches, 23 condominium units sold last month at prices of $1 million or more. Another 41 per in the price range of $600,000 to $999,999.