Singer Island Low-Rise to be Demolished, Luxury Community Set to Take Its Place
According to a report from the Palm Beach Post, it appears the days are numbered for one of the last few remaining low-rise condo developments on Singer Islandāa part of Palm Beach County that is now basically dominated by towering oceanfront high-rises with jaw-dropping views and a wide-range of amenities to match.
Harbor Point, located at 5000 N. Ocean Drive on Singer Island in Riviera Beach, has reportedly been sold for $15 million to The Kolter Group, which plans to demolish the deteriorating 37-unit building and develop a new luxury community that still needs to be approved by the city.
Prior to the market collapse, offers of $30+ million were received for the Harbor Point propertyāyet another indication of just how hard the Palm Beach County real estate market fell around that time.
Harbor Point was originally built back in 1964 and according to reports, about 30 units are still controlled by private owners, which was another contributing factor as to why the deal was so challenging.
As of now, more details have yet to be released about Kolterās new luxury development.
ARE YOU IN THE MARKET FOR A LUXURY CONDO ON SINGER ISLAND? START BROWSING THE ACTIVE CONDOMINIUM LISTINGS BELOW!
- 9 Beds
- 14 Baths
- 13.3k SqFt
HYPOLUXO BEACH MAP
Christian Angle Real EstateMLS® #RX-10951127
- 7 Beds
- 7 Baths
- 6,296 SqFt
EVERGLADES ISLAND 2
Brown Harris Stevens of PB (WoMLS® #RX-10969120
- 6 Beds
- 9 Baths
- 13.4k SqFt
BINGHAM COPP TR
Premier Estate Properties, IncMLS® #RX-10950726
- 8 Beds
- 10 Baths
- 8,376 SqFt
PRIMAVERA ESTATES (LAKE FRONT)
Sotheby's Intl. Realty, Inc.MLS® #RX-10973565
- 6 Beds
- 8 Baths
- 8,133 SqFt
Palm Beach Estates
Lawrence A. Moens AssociatesMLS® #RX-10964141
- 6 Beds
- 10 Baths
- 10.7k SqFt
ROYAL PALM YACHT & COUNTRY CLUB
Royal Palm Properties LLCMLS® #RX-10974002