First New Luxury Residential Building On Palm Beach In Over A Decade Breaks Ground

7/14/17

Integrated real estate firm DDG today announced that construction is officially underway at 3550 South Ocean, a rare new addition to the coveted Palm Beach shoreline. During an exclusive ceremony attended by South Palm Beach Mayor Bonnie Fischer, Douglas Elliman Chairman Howard M. Lorber and DDG CEO and Chairman Joe McMillan, ground was broken at 3550 South Ocean Boulevard, the location of this highly anticipated luxury condominium. The groundbreaking follows the launch of sales of the building’s 30 light-filled two- and three-bedroom residences, which began earlier this year. Illustrating the demand for new oceanfront homes, 3550 South Ocean is already 20-percent sold, including the sales of gracious three-bedroom, three-and-a-half-bath penthouses. Pricing for available residences start at $1.875 million.

3550 South Ocean is being developed and built by DDG, an award-winning integrated real estate development firm known for its progressive design aesthetic and highly successful residential buildings in California and New York. To create the building’s striking modern architecture and timeless aesthetic, DDG has assembled a cast of acclaimed design-world collaborators including Garcia Stromberg of Palm Beach, Kobi Karp Architecture of Miami and Champalimaud of New York. Together the firms have created a contemporary sawtooth form that stretches east to west and enables each of its 30 expansive residences to be indirectly bathed in northern light and offer unparalleled ocean views and breezes.

“3550 South Ocean signifies DDG’s foray into Florida and we couldn’t be more excited to see this project come to life as construction gets underway,” said Joe McMillan, CEO and Chairman of DDG. “Between the location, ocean views and selection of amenities, 3550 South Ocean will introduce a new luxury lifestyle to the Palm Beach condominium market.”

“There has been a strong interest in 3550 South Ocean since sales have launched,” said Howard M. Lorber, Chairman of Douglas Elliman Realty, LLC., whose Douglas Elliman Development Marketing team is the exclusive marketing and sales agent for 3550 South Ocean. “This project has addressed the buyers’ needs for ground-up new luxury homes on the beach with an elevated level of design that this area of Palm Beach has not seen before.”

Each home in the seven-story building features direct elevator access, private entry foyers, private balconies, direct water views and expansive layouts ranging from 2,700- to over 3,000-square-feet. Five penthouses boast sweeping private rooftop terraces for entertaining, as well as Atlantic Ocean views to the east and Intracoastal Waterway views to the west. All residences will be delivered move-in ready.

The luxury condominium’s striking interiors are being designed by Champalimaud and channel a timeless Palm Beach style to create clean contemporary lines and a soft color palette marked by a variety of materials and textures. Hallmarks of the residential interiors include open and expansive chef-caliber kitchens with custom oversize islands composed of intricate stonework, solid oak flooring and top-of-theline appliance and fixture packages. Floor-to-ceiling glass windows, open living areas and sliding doors to private covered balconies enhance the natural light and water views and blur the line between indoor and outdoor living.

3550 South Ocean has a curated selection of lifestyle amenities exclusively for residents that include private beach access, a beachfront salt water swimming pool and sun terrace, a fitness studio with eastfacing natural light, on-site surf board and stand-up paddleboard storage, private gated access and private parking. Additionally, DDG has a partnership with The Wright Fit, to provide custom, on-demand lifestyle services inclusive of in-residence massages, indoor and outdoor private training, yoga and youth fitness for residents, as well as an exclusive relationship with on-demand charter service, Star Jets International. This partnership provides residents with custom-tailored concierge jet services, with the resident experience inclusive of door-to-door car transfers, itinerary customization, jet selection, onboard catering and more.

With construction underway, completion of 3550 South Ocean is expected in late 2018. The sales gallery is located at 205 South Ocean Boulevard, Manalapan, FL. For additional information or to schedule an appointment, please contact the sales team at 561-600-1156, sales@3550southocean.com, or visit www.3550southocean.com.

ABOUT DDG

DDG is a vertically integrated real estate investment and development firm, which allows it to provide capital, design, construction, development and asset management expertise across its portfolio. DDG focuses on mixed-use and luxury residential investment and development on the east and west coasts, pairing its companies in a manner that helps create and enhance the built environment, through a focus on innovative design and superior construction. DDG and its principals have owned, developed and managed over 2.2 million square feet of real estate across various asset classes. DDG has offices in California, Florida and New York.

DDG currently has six projects underway in prime locations in New York City, including XOCO 325 at 325 West Broadway in SoHo, 12 Warren Street and 100 Franklin Street in TriBeCa, The Standish in Brooklyn, 532 West 20th Street in West Chelsea and 180 East 88th Street on the Upper East Side. The celebrated 41 Bond in NoHo was recently completed, as well as the record-breaking 345meatpacking in the Meatpacking District. Recent and current luxury residential, retail, parking and mixed-use projects in San Francisco include 8 Octavia, 400 Grove, 450 Hayes and Parcel T, all located in the arts, fashion and design focused neighborhood of Hayes Valley and 235 Valencia Street in the Mission District. 

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