Iconic One Thousand Ocean Condominium Exceeds $100 Million In Closings In Four Months

New Boca Raton oceanfront condominium is real estate bright spot in South Florida. End Quote

West Palm Beach-Boca Raton, FL (1888PressRelease) July 15, 2010 - There's bright news along South Florida's Gold Coast as the dollar volume of unit closings has reached more than $100 million at One Thousand Ocean in Boca Raton. Twenty-five residences were closed from the time the modern, seven-story building was completed in mid February through the end of June 2010. An additional five residences are under contract and expected to close within the next 30 days.

Developed by LXR Luxury Resorts, One Thousand Ocean is the landmark Atlantic Ocean-to-Intracoastal "boutique" condominium situated on the tip of a private peninsula adjacent to the Boca Raton Resort & Club's Boca Beach Club.

Jamie Telchin, president of development with LXR Luxury Resorts, watched One Thousand Ocean come to life. Commenting on the figures, he said, "We continue to be pleased with the sales success we're seeing here, particularly in this economic climate. It is quite impressive. One Thousand Ocean has continued to attract sophisticated, affluent primary and vacation-home buyers who want a total lifestyle experience in a world-class waterfront location."

Continuing, Telchin added, "I am not aware of any other new condominiums in South experiencing this degree of success. One Thousand Ocean has consistently been a leader in new condominium sales in this market since its inception in 2006, when it was only a vision on the drawing board."

He also pointed out that One Thousand Ocean attracts high-net-worth buyers with varying lifestyle preferences. "They are selecting dramatically different residences and different views within the building. Some like the tranquility of the ocean, while others want the vibrancy of activity that can be seen by looking out over the Boca Beach Club and the cityscape," Telchin said.

The uniquely designed, nautilus-shaped structure features a blend of one- and two-story Beach Villas, and one-story Residences and Penthouses averaging approximately 4,000 square feet of interior space, plus approximately 1,200 square feet of terraces. Prices are from approximately
$3 million to more than $15 million.

Residents of One Thousand Ocean who choose to be members of the Premier Club at the Boca Raton Resort & Club are able to access the amenities and services of this esteemed Waldorf Astoria Collection property, both at its main location just across the Intracoastal, as well as the Beach Club. Fresh from more than $220 million in renovations, the 356-acre Boca Raton Resort & Club is one of America's preferred destination resorts for modern families and business groups seeking a memorable, highly personalized vacation or meeting experience. The private, full-service resort's amenities include a half-mile stretch of private beach, the acclaimed Spa Palazzo, two 18-hole championship golf courses and the Dave Pelz Scoring Game School, 30 tennis courts and the renowned Evert Tennis Academy, 32-slip marina, seven pools, three state-of-the-art fitness centers, and a variety of water sports. A wide array of accommodations, world-class dining options, activities and an enduring legacy of warm, genuine hospitality ensure that multiple generations of family and friends or diverse business associates can gather and reconnect in great comfort.

For further information about One Thousand Ocean, visit www.onethousandocean.com or call the Sales & Design Center at (561) 869-5000 to schedule a private showing.

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