South Florida Real Estate Blog by Rachael Kobin, Realtor

The Hot Street - East Royal Palm Road

You may not know where you should live, but Group P6 certainly does, and if I were you, I would start listening. Group P6 is known as the next generation of residential builders for a reason, they manage to find the best location within the best location and build exclusive luxury residences with their signature contemporary aesthetic.

Group P6 recognized that East Boca Raton was the best real estate market in South Florida and they made a significant financial investment. But, it was their strategic investment that is more noteworthy. It’s common knowledge that the East Boca Raton real estate market is on fire. Street by street, the single-family homes have been demolished, rebuilt and sold with multi-million dollar price tags. Several new condominium projects are underway because buyers are seeking more options beyond the tired dated appearances of the buildings on the beach.  For their two latest projects, Group P6 sought out the premier location within East Boca Raton. They found it, East Royal Palm Road…”The Hot Street”.

East Royal Palm Road is a small quiet residential street immediately South of East Palmetto Park Road running between SE Mizner Boulevard and SE 5th Ave. What makes East Royal Palm Road unique is that you are protected from the traffic of the main road, it is easy to forget you are right in downtown Boca Raton. You will not need an UBER, anywhere you want to go is within walking distance from East Royal Palm Road including the beautiful beach, Silver Palm Park (which is undergoing a multi-million dollar renovation) amazing restaurants like Trattoria Romana, Mizner Park, the Boca Museum of Art, IPic Theaters and nightlife. 

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State of the Boca Condo Market

Whoever said the Boca condo market was dead was likely just a contrarian who probably couldn’t afford to live there anyway. And, the suggestion is based on a false premise since the condo market in Boca Raton is not dead, it’s actually thriving.

By the way, when I say “Boca condo market” I mean East Boca, the only area that really matters…right?  If you can afford to live here you deserve the bragging rights. The truth is, this area is really on fire.  Last year the average sale price on a condo in this micro area of Boca Raton was about $743,000 this year that number increased to a whopping $906,000, a 20% increase! Days on market decreased and you are still seeing only about 6% off of list price. If you live in this area already, you made a great choice and if you don’t, there is still time before you’re priced out of the market. 

A great indicator of a healthy real estate market is new construction and East Boca has at least 4 new ultra luxury condominium projects under way. What makes these projects unique is where they are located. They are not directly on the sand. Developers realized the value of having the best of both worlds, proximity to the beach and proximity to high end restaurants and shops with panoramic city, ocean and golf course views. In this highly coveted area, you can walk to the beach, Mizner Park, Boca Raton Resort, IPic and every high end restaurant Boca Raton has to offer. 

All of these luxury developments have their own customizations and imported European finishes with each one striving for architectural and design superiority.  That “friendly” competition among builders has catapulted the area into the hottest condo market in Florida. The only other thing more certain than...

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