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.
Terrabella Realty is a boutique operation with over 1 Billion dollars of closed sales over the past 12 years, We have experience in the South Florida real estate market and we have developed strategic alliances with Real Estate Firms in foreign countries like, Argentina, Colombia, Venezuela, Mexico, Ecuador, Canada, Russia, France, England and Israel, to name a few. We have over 80 sales associates ready, willing and able to assist on the sale of your property and we are experienced enough to help you price it right.