One Thousand Ocean in Boca Raton Sells Out
The developer assembled a top-notch sales and marketing team with the skill set to reach a niche demographic of qualified prospects. They accomplished this by branding the name, strategically placing advertising, generating far-reaching publicity, broker outreach, and prospect events tied in with luxury brands, charities and celebrities.
- West Palm Beach-Boca Raton, FL (1888PressRelease) November 06, 2013 - With the sale in November of a two-bedroom, two and one-half, 2,981-square-foot unfurnished residence for $2 million, One Thousand Ocean has sold all 53 of its new residences, marking a 100% sell-out of the iconic building. Closed unit dollar volume over the life of the project totals approximately $251 million.
Nancy Toomey with Lenson Realty in Boca Raton brought the buyer to the One Thousand Ocean's sales team who helped facilitate the final purchase.
"One Thousand Ocean demonstrates that a sell-out success doesn't happen purely by chance, and that sales can continue in spite of a very challenging economic climate," said Jamie Telchin, president of development with LXR Luxury Resorts & Hotels. "A successfully planned luxury condominium project generally requires a prime location, bold architecture, exceptional views, innovative floor plans and features, as well as a financially sound developer who understands that a premier resort lifestyle is essential to satisfying the expectations of high-net-worth individuals. One Thousand Ocean has all of these ingredients, and more."
There was a wide selection of product types within the building, ranging from one-story Residences and Penthouses to one- and two-story Beach Villas. The majority of units included private elevator lobbies, fireplaces, finished kitchens, baths and flooring, oversized terraces, private plunge pools, outdoor kitchens, and private two- or three-car garages. Some residents also purchased private oceanfront cabanas.
"Groundbreaking for One Thousand Ocean took place in October 2007 when the financial crisis was just starting. In order to sell these condominiums, we knew we had our work cut out for us. An 'If we build it, they'll come' approach wasn't going to work," Telchin continued. "That led me to assemble a top-notch sales and marketing team with the skill set to reach a niche demographic of qualified prospects. We accomplished this by branding the name, strategically placing advertising, generating far-reaching publicity, broker outreach, and prospect events tied in with luxury brands, charities and celebrities." As examples, a model at One Thousand Ocean was designed by Venus Williams; Jennifer Lopez and Jason Statham filmed a key scene for the movie "Parker" in a residence at One Thousand Ocean; and the Kleiers of HGTV's "Selling New York" reality series filmed two episodes at the building. "Furthermore, we partnered with other highly visible interior design companies to furnish several model residences, as well as hosted numerous charity events at the building," he said.
"Most initial purchasers were already members of the Boca Raton Resort & Club's Premier Club. At the same time we were constructing the condominium building, a $220 million renovation was under way at the main campus of the resort and at the Boca Beach Club, located adjacent to One Thousand Ocean. "While this was an extremely ambitious renovation project for ownership, we knew the result would be advantageous for resort visitors and members, and for future One Thousand Ocean residents," he noted. "The world-class Boca Beach Club reopened in early 2009 with resounding success.
"The resort lifestyle proved to be an important component our buyers wanted. What could be more perfect than living on the grounds of an award-winning resort where they are able to access many of the services even without leaving One Thousand Ocean. Additionally, the building has an extraordinary location at the tip of a private peninsula on the Boca Raton Inlet, with water on three sides. We also took special care to ensure that its amenities and services were aligned with the desires of the international and domestic league of sophisticated, discerning owners who call One Thousand Ocean their full- or part-time home," Telchin added.
Many One Thousand Ocean residents had already owned a place locally but wanted something newer, more carefree, closer to the resort and on the beach.
For information about other potential developments in the portfolio, please visit www.onethousandocean.com or call (561) 869-5000.
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