Douglas Elliman’s Joe Azar and Slate Hallandale Seashore at 101 Diplomat Parkway (Getty, Douglas Elliman)
Ari Pearl introduced in Douglas Elliman Advancement Advertising to cope with leasing of Slate Hallandale Beach front. Months after opening, the high-close condominium tower is less than a third rented.
Pearl’s PPG Advancement developed Slate Hallandale Beach at 101 Diplomat Parkway with companion, Paramus, N.J.-based High quality Money. Fort Lauderdale-based mostly BH3 Management bought a 50 p.c stake in the tower in May possibly, according to its web site. The 250-unit, 26-story tower is the initially section of a mixed-use progress that consists of a Greg Norman-designed golf training course.
Slate acquired its certification of occupancy in April, and the builders secured a $150 million refinancing at that time. The developing began leasing then, opened to renters around the summer time and is now about 30 percent leased, said Joe Azar, Douglas Elliman’s controlling director of new progress leasing.
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Slate is amongst the very first leasing initiatives for Elliman’s new growth renting arm, which expanded to South Florida in July.
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Slate provides just one- to three-bed room apartments and penthouses. One-bedrooms get started at $3,200 for each thirty day period, two-bedrooms at $4,400, and three-bedrooms at $6,200, Azar explained. Penthouses have more bedrooms and bogs, with 14-foot ceilings.
The building’s features contain a golf simulation place, a kid’s video game home, a movie theater, a wine cellar, and a pet grooming station.
So considerably, Slate has attracted “the normal snowbirds,” as nicely as Europeans, New Yorkers, and neighborhood Miamians, Azar claimed. He hopes to reach full lease-out in 6 to eight months.
South Florida has seasoned a increase in multifamily design through the pandemic, as developers bank on need from new residents and their willingness to spend soaring rents.
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Pearl’s broader project, which incorporates the 127-acre site of the previous Diplomat Golfing & Tennis Club, continues to be underway. PPG Advancement introduced in Witkoff as a lover on the golf class enhancement in September of very last year, and secured a $55 million personal loan for the undertaking.
The golf course is established to end development early subsequent year, according to a push launch.
