Boca Raton condo development site acquired for $14M

Posted by Brian Pearl on Tuesday, February 17th, 2015 at 11:25am.

An affiliate of Siemens Group paid $13.5 million to acquire the site of the Akoya condominium project at the Boca West Country Club.

BW-PC LLC, an affiliate of the country club, sold the 6.8-acre site along Boca West Drive to BW-INV LLC, an affiliate of Boca Raton-based Siemens Group led by veteran developer Richard Siemens. The site last traded for $2.35 million in 2007, when Walt Disney World sold it to the club.

Akoya features 140 units with reduced prices now ranging from the $800,000s to over $2 million.  Original pricing started at $1.2 million for decorator-ready units, meaning no finishes, flooring, or fixtures.  Akoya condos will now be delivered with luxury appointments and features including gourmet kitchens with Wolf and Sub-Zero stainless steel appliances, quartz, marble, and granite countertops, and European cabinetry.  Flooring options will include porcelain tile, designer carpeting, and hardwood.  Expansive balconies will capture the spectacular golf course views that Boca West Country Club has to offer.  Marketing director Rob Siemens said it has secured development approvals and expects to break ground in late 2015 once it has inked enough sales. The developer is asking for 20 percent down, as compared to the 50 percent required in most Miami condo projects.

Click here for more information about Akoya at Boca West, including photos, floor plans, finishes, and current listings available for sale.  Contact the Boca Raton real estate expert, Brian Pearl at Lang Realty, for any questions or to visit Akoya at Boca West.

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