CONDOS: There remain only 2 condos at Ocean Delray that have yet to be sold. 17 of the 19 condominium units at this location are under contract. We have sold 89% of the units, resulting in over $112.9M in gross sales! We continue to track higher on sales price per square foot than pro forma projections made at the start of our marketing campaign. Our stunning oceanfront development is seemingly springing to materialization from out of Delray Beach’s sands.

Our sales center is positioned on prime Atlantic Avenue. This location was selected strategically, since it typically sees significant traffic running through the Downtown Delray area. This brings in a substantial number of new, potential buyers. We believe this march of certified clientele will lead to unit sales. The units will not be ready for occupancy until the latter half of 2021. We anticipate that COs will start to be approved until Q3 2021. In unison with the issuances of COs, we expect to close on contracted units.

As Ocean Delray nears TCO and substantial completion in the final weeks of the summer season, we look forward to welcoming our owners to their new world-class properties. In the coming weeks, we will open our common areas and complete our lush landscaping. From there, our new owners will be introduced to our premiere property management team. Our highly serviced beach experience, curated by the famed Boucher Brothers, will open in September after Labor Day, followed by our Grand Opening Celebration. We want to extend a special thank you to all of our wonderful investors and owners, who helped make Ocean Delray a reality.

Check our ODR website for regular updates at www.oceandelray.com. For updates on Ocean Delray’s construction progress, we have photography and videos taken by aerial drones, available at the aforementioned link.

ODR SINGLE FAMILY ESTATE HOMES: We continue work on the Estates at Ocean Delray. We completed the first lift of columns. The beams at both Kapoor and Hirst are being poured next week. The Pollack’s slab on grade and foundation are being poured next week. The Koons’ slab on grade is being formed at this time.

Each of these five single-family estates is expected to have a final floor plan ranging from 3900-4900 SF. Pricing has yet to be determined. We will determine a competitive market price when the time comes for us to sell these buildings to accredited owners. However, we anticipate that our closing price will be comparable to the success we’ve seen across the breadth of our Florida waterfront portfolio of homes.

In addition, NRIA recently contributed a donation to a fund started by the Delray Police that purchased an ice cream truck for the town of Delray Beach. NRIA does not simply develop and walk away. We believe strongly in giving back to the community. The purchasing of this ice cream truck is just one small way we have contributed to the Delray Beach community.

Visit the updated sales & marketing website at: https://estatesatoceandelray.com/