New Palm Beach condos are getting a lot more expensive, but it’s not because they’re in bad condition, as one developer is trying to capitalize on the market.
Cushion Properties, a unit development firm based in Palm Beach Gardens, is offering condos with a price tag of up to $1 million for sale.
The condos will be priced at a fraction of their original purchase price.
A listing of the first two condos, the 1,200-square-foot Palm Beach Concierge Suite, will go on sale at 7 p.m.
Monday on the Palm Beach, Fla., Condo Club website.
Couples looking to buy the condo can choose from three bedrooms, two bathrooms and two balconies.
The first two units have a floor-to-ceiling glass wall and a rear-facing patio.
The condo will include a full-size kitchen, a full bath with tub, bath, shower, sink and more, and a full living/living room.
The condos are priced at $2,700 per square foot, $5,000 per square feet, and $8,000 for a two-bedroom unit.
The condo’s second floor will have three bedrooms and two bathrooms.
The units are slated to open in 2019.
The listing was made available Friday.
The Palm Beach Condos Club is part of the Palm Beaches Development Corp., which is owned by Jeffrey C. Greenberg and his brother, Robert Greenberg.
Jeffrey Greenberg is CEO of Palm Beach Properties, which includes the Palm Island Mall.
The developer is currently developing the 4,600-square foot Condo Concierges, which will be built at the same time as the new condos.