What’s Up In The Real Estate Market…
Published on 12.5.2016
It takes the perfect blend of colorful history, superb location, iconic architecture and an elite, sophisticated citizenry to create an international destination – a place where every moment is a celebration. This is the essence of Via Mizner, an exclusive, landmark address in the heart of a beloved community, perfectly crafted for world-class lifestyles.
As one of a select few locations worldwide with a residential property bearing the Mandarin Oriental name, The Residences is truly a signature address. Upon arriving at the private entrance lobby, the cascading water element and grand staircase only hint at the striking design and details that abound throughout. Incomparable sophistication is imbued into each of the eighty-nine, light-filled homes that celebrate the Boca Raton lifestyle with absolute comfort and complete security.
For over fifty years, Mandarin Oriental Hotel Group’s reputation for impeccable service, distinctive designs and renowned, holistic spas has been key to its rapid expansion across the globe. Today, the company operates thirty-two hotels and seven Residences at Mandarin Oriental in 23 countries and territories. A dedication to the highest levels of customer satisfaction year after year has garnered Mandarin Oriental Hotel Group a most enviable ranking as a recognized leader in worldwide luxury hospitality.
Boca Raton isn’t just attracting your grandma’s friends anymore. That was the message given by a panel of real estate experts during “The State of the South Florida Real Estate Market” event held at The Addison last month.
Experts said buyers are younger, aren’t necessarily looking to live directly on the beach and are turning to Boca because of its liveable, walkable environment.
Boca Mayor Susan Haynie, President and CEO of Miller Samuel Inc, a real estate appraisal and consulting firm, Johnathan Miler, CEO of Douglas Elliman’s Florida Brokerage Jay Parker and Executive Director of Luxury Sales at Douglas Elliman Senada Adzem addressed a crowd of real estate professionals on the South Florida market with a focus on Boca.
“Boca Raton is very special,” Mayor Haynie said, giving a history lesson about The Addison being Addison Mizner’s office while he was building the Boca Raton Resort. “Our downtown is becoming the vibrant vision of our community.”
With the state’s fastest growing university, FAU, Boca Regional Hospital, the airport and other amenities, Haynie said the city has something for everyone whether you want to live on the beach, on a golf course or in a more urban downtown core. Parker said more than 1,000 people are moving to South Florida daily and Boca is being asked about from buyers now more than ever. “People’s decisions are based on lifestyle,” he said.
Part of the panel discussion focused on the Residences Mandarin Oriental, 85 luxury residences in the Mandarin Oriental hotel that will be heading to Boca Raton. Parker said the amenities offered in the project provide a package deal for people seeking dining, spas and golf in one place.
The project is part of Via Mizner, a mixed-use property with shops, restaurants and luxury hotel Mandarin Oriental. The Residences will sit atop The Shoppes at Via Mizner, which plan to have upscale shopping, dining and specialized services on the first four floors. The units will connect to the hotel via a skybridge.
The units will range in size from one bedrooms to five bedrooms. The penthouses will be as large as 8,800 square feet with smaller 1-bedroom units totaling 1,453 square feet. The residences include open floor plans, terraces, summer kitchens, private elevator foyers to each residence, automated “smart home technology,” gourmet kitchens with European cabinetry, high end appliances, stone or wood flooring and high-end countertop finishes.
Owners will receive the following amenities: preferred access to the hotel restaurants and bars, preferred access to The Spa at Mandarin Oriental, resident-only lounges and gathering areas rooftop pool with private ocean-view cabanas, fitness center with private instructors, outdoor garden and relaxation area, lobby-level wine cellar with private tasting room, in-residence dining with access to hotel catering, a private chef for dinner parties, business center and meeting room and 24-hour concierge, doorman, valet and security.
Residents will also get membership privileges to Via Mizner Golf and City Club. The golf course, located about three miles from the property, is an existing 18-hole course that will be completely redone and designed by golf icon Jack Nicklaus. The club will also have a pool, tennis courts, dining and a club house.
For an additional fee, residents can choose from the following services, daily housekeeping, a butler, home care and maintenance, pool service, in-room massage, house cars for use around Boca Raton and dog walking.
Adzem said her European buyers are interested in Boca because it is a safe place to live. Buyers from the Northeast, she said are interested in the city because of the resort-style environment and low taxes. She said those used to spending summers in the Hamptons are looking to Boca for a similar vibe for less. She also said her buyers are younger than they were years ago. Her average client is 48 with a family, which is a shift away from already retired or looking to retire to South Florida, she said.
She said those younger families are shifting away from golfing country clubs. “They don’t want to feel that they are driving a half hour to their home,” she said of the large communities.
But if golf is what you are looking for, Haynie said Boca has something for every buyer. “If you want a golf course community, we have that, residences for families, we have that, downtown that is a walkable and liveable, we have that,” she said.
We are pledged to the letter and spirit of the U.S. Policy for achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising, marketing and sales program which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin. The sketches, renderings, pictures, photos, and designs depicted or described herein are conceptual in nature and are not to scale, are based upon preliminary development plans, may depict options, upgrades, features or views not available in all model types and are subject to change without notice in the manner provided in the applicable purchase agreement. No guarantees or representations whatsoever are made that any features, amenities or other facilities will be provided or, if provided, will be of the same type, size, location or nature as depicted or described herein. Any view from a unit or from other portions of the property may in the future be limited or eliminated by future development or forces of nature. Nearby golf courses, open spaces and other areas are not owned or operated by the Developer and there is no guarantee they will be operated or maintained for any particular purpose or in any particular manner. Many of the facilities within the project will not be located within the Residences. Certain facilities or services described herein will be provided by the hotel or club operators or others and may be subject to additional charges. Membership in the Club will be mandatory for unit owners and will require payment of additional dues, fees and costs. A substantial number of Club memberships will be available to non-residents. Business establishments may be sold to third parties, may be used for different purposes, and may change or discontinue operation at any time.
An offering is made only by the prospectus for the condominium and no statement should be relied upon if not made in the prospectus or in the applicable purchase agreement. Penn-Florida Realty Corporation is the Developer’s exclusive broker for this project. No solicitation, offer or sale of a unit in the Residences will be made in NY, NJ, or in any other jurisdiction in which such activity would be unlawful. Via Mizner Owner III, LLC (“Developer”) is a newly-formed entity, which is the sole offeror of the units being offered for sale as The Residences at Mandarin Oriental, Boca Raton (“Residences”). Penn-Florida Capital Corp. and the other “Penn-Florida Companies” are affiliated with the Developer but are not the developer of the Residences. All statements and any representations herein shall be deemed to have been made solely by Developer. An affiliate of the Developer is developing the adjacent proposed Mandarin Oriental, Boca Raton hotel (“Hotel”) and the rental programs, if any, offered to unit owners in the Residences. Neither Mandarin Oriental Hotel Group nor any of its affiliates, nor their respective Officers, Directors, Agents or Employees (collectively, “MOHG”), are in any way owners, offerors, promoters, issuers or underwriters of, or responsible or liable for, or are making any representations or warranties with respect to, the Developer, construction of the Residences, any offering for sale of the real property constituting the Residences, or any increase or return on related investment. MOHG has not assumed and has no liability or responsibility for any financial statements, projections or other financial information contained in any sales and marketing materials, prospectus or similar written or oral statements relating to the Residences. Developer has the sole right and responsibility for the manner and means by which the Residences are sold, and for all representations in relation to the Residences. Developer has obtained rights to use the “Mandarin Oriental” name and trademarks (“MOHG Marks”) in connection with the Residences and the Hotel subject to the terms and conditions of non-exclusive license agreements which may be terminated at any time upon certain occurrences. The right to use the MOHG Marks in connection with the Residences is thus not guaranteed and no such right is included in the Residence being acquired by any purchaser. If any of the relevant agreements are terminated, or Mandarin Oriental ceases to manage the Hotel or Residences for any reason, use of the MOHG Marks in connection with the Hotel and Residences may be terminated at MOHG’s discretion.
The Residences at Mandarin Oriental, Boca Raton (The Residences) are not developed, sponsored, owned, offered or sold by Mandarin Oriental Hotel Group or any affiliate thereof (MOHG), and MOHG makes no representation, warranty or guaranty of any kind regarding The Residences. The developers and owners of The Residences use the Mandarin Oriental name and trademarks subject to the terms of revocable licenses from MOHG which may expire or be terminated.
Photographs and artwork are lifestyle photographs and conceptual artist renderings.