The fully furnished unit was designed by Charles Allem, who also designed Regalia’s interiors, and features onyx, leather and lacquer finishes, a custom stone and glass wine cellar with room for 600 bottles, and a 2,000-square-foot entertainment and game lounge with a billiard table and home theater. It also includes 6,500 square feet of terrace space.
Last summer, the developerstook out $27 millionin financing for the beach house and penthouse, and filed a notice of commencement for the interior buildout. C1 Bank is the lender. Both units were previously listed at a lower price unfinished and unfurnished, Kevin Venger of Regalia Beach Developers toldThe Real Deal.
“We find that buyers spending $20 million to $40 million prefer a turnkey unit versus taking on the logistics of a project of that magnitude,” Venger toldTRD.
At $2,057 per square foot, the turnkey condo also includes a sun deck, summer kitchen, wraparound terrace, glass-faced pool, staff quarters, a spa with a steam and Hammam room, massage beds and Jacuzzi, and two master bedrooms with drop-down ceiling TVs andmidnightbars.
Regalia was completed in 2014 and developers have sold more than 90 percent of its units. Remaining units include a nearly 17,000-square-foot penthouse, priced at $40 million, and a 5,515-square-foot condo on the 18th floor, priced at nearly $12 million. The tower has six pools, a spa, cabanas, a fitness center, yoga studio, children’s playhouse, a chef’s kitchen and a champagne bar and wine cellar.