SEA DUNES INVESTMENT OPPORTUNITY...INVESTMENT OPPORTUNITY Exciting opportunity at Sea Dunes in...

Located

in the

beautiful city of

Singer Island

SEA DUNES

INVESTMENT

OPPORTUNITY

5400 N OCEAN DRIVE

INVESTMENT

OPPORTUNITY

Exciting opportunity at Sea Dunes in Singer Island, an

oceanfront property located at 5400 N Ocean Drive. Sea

Dunes is comprised of 32 condominium units situated on

2.5 acres of land with 200 linear feet of Eastern exposure

to the Atlantic Ocean and Western Exposure to the

Intracoastal Waterway; making it an ideal candidate for

redevelopment with water views on both sides. Sea Dunes

is the last remaining potential development site on the

oceanfront in Singer Island.

EXECTUTIVE SUMMARY

SEA DUNES INVESTMENT

OPPORTUNITY 2

5400 N

OCEAN DRIVE

SINGER ISLAND


OPPORTUNITY 3

FEATURING AMAZING UN-OBSTRUCTED PANORAMIC

VIEWS OF BOTH OCEAN & INTRACOASTAL

Singer Island is a thriving resort community surrounded by white sanded beaches and turquoise waters located in Northern Palm Beach

County, Florida. It is a 15 minute drive from West Palm Beach International Airport and 5 miles North of Downtown West Palm Beach. Singer

Island is nestled between the waters of the Atlantic Ocean and the Intracoastal Waterway and celebrates an extraordinarily unique

oceanfront lifestyle. Just minutes away, a world of delightful diversions awaits discovery. To the north, John D. MacArthur Beach State Park

serves as a natural gateway to Palm Beach Garden’s world-class shopping, dining and championship golf. For those who prefer outdoor

fitness, the Seaside Park is a favorite destination for walkers, joggers, kayakers and bicyclists alike. To the south, Palm Beach Shores overlooks

the Palm Beach Inlet, historic Peanut Island and the mansions of the Islands of Palm Beach. It’s a playground to presidents, celebrities and

those who simply treasure the area’s rich history and exciting future.


OPPORTUNITY 4

1

LOCATION

THE

INVESTMENT

The investment strategy is continuing to purchase more units as they

become available, secure control of the Board and ultimately,

redevelop the Building.

The seller currently owns 9/32 units, representing 28% of the

apartments, and those units are rented out on an annual basis to

cover the carrying costs of the portfolio.

There are currently 5 additional condo owners that are prepared to

sign a contract to sell their units. Once those units are purchased,

only 3 more units are needed to secure 51% control of the Board (17

units = 53%).


OPPORTUNITY 5

COMPARABLESALL OCEAN FLOOR


OPPORTUNITY 7


OPPORTUNITY 8

RITZ CARLTON RESIDENCES

SINGER ISLAND

The Ritz Carlton Residences is sold out. The project was

developed by Lionheart Capital (also the developer of the Ritz

Carlton in South Beach) and consists of two 27-story towers on

8.8 acres at the Southern point of Singer Island. This project is

one of the few standalone Ritz Carlton residences with no hotel

component. The property is highly amenitized with concierge

services, a tropical sundeck with oceanfront lagoon and lap

pools, two whirlpool spas, poolside grill and beach. Current

resales are averaging $1,100 per foot.

2700 N OCEAN DRIVE, SINGER ISLAND,

RIVIERA BEACH, FL 33404


OPPORTUNITY 9

VISTA BLUE

Vista Blue is a 19 story boutique-style condominium currently

under construction consisting of 58 residences with large floor

plans ranging in size from 2,800 to over 6,000 square feet of air-

conditioned living space and penthouses from 6,242 to over

6,423 square feet of air-conditioning living space. Prices in this

building are starting at $700 per foot.




OPPORTUNITY 10

VISTA BLUE

North East ''A” Unit / Ocean views

Prices range from $2,200,000 to 2,800,000 3 bedrooms 3.5 bath with a den

3,265 a/c living plus 454 outdoor living area 3,719 total square footage.

South East "B” Unit / Ocean views


3,645 a/c living plus 486 outdoor living area 4,131total square footage.

North West "C” Unit / intercostal views


3,029 a/c living plus 584 outdoor living area 3,613 total square footage.

PRICE LIST

South West "O” Unit / intercostal views

Prices range from $1,600,000 to 2,000,000 3 bedrooms 3 bath

2,784 a/c living plus 584 outdoor living area 3,368 total square footage

Penthouses / Ocean to intercostal views

PHA $6,300,000 and PHB $6,600,000

4 bedrooms 4.5 bath and den

PHA 6,242 and PHB 6,423 a/c living plus 1,154 outdoor living area PHA

7,396 and PHB 7,642 total square footage.


OPPORTUNITY 11

5000 NORTH OCEAN

5000 Ocean is a 19 story boutique style condominium currently

under construction consisting of 48 residences developed by

Kolter Homes. 5000 Ocean has big floor plans ranging from

2,700 to 4,897 square feet under air. All residences feature

direct beachfront views and Intracoastal views with prices

starting at $1,000 per foot. This building has the best location of

the three because of the double water view (Ocean and

Intracoastal) and is located further north than the others.

*Note Sea Dunes is north of 5000 Ocean making the perfect

comparison for our project (It shares with our project the best

location in Singer Islands and much better than current

comparables).




OPPORTUNITY 12

5000 NORTH OCEAN

19-stories, 48 residences (All SF totals under A/C):

34 Seabreeze residences (3BR+Family Room 4.5 BA; 3753 SF) $2,549,000 - $3,999,000

9 Beachwalk residences (2BR+Den 3BA approx. 2706 SF) $1,949,000 - $2,229,000

4 Seaglass residences (4BR + Family Room 4.5BA, 4897 SF) $4,889,000 - $5,349,000

1 Sandcastle residence (3BR+Family Room 4BA;3900 SF) $3,499,000 -

Groundbreaking Fall 2016

Occupancy Fall 2018

PRICE LIST

Type Units Sqft From to Average $/SqFt Total Sales

Seabreeze residences 34 3,753 $2,549,000 $3,999,000 $3,274,000 872 $111,316,000

Beachwalk residences 9 2,706 $1,949,000 $2,229,000 $2,089,000 772 $18,801,000

Seaglass residences 4 4,897 $4,889,000 $5,349,000 $5,119,000 1,045 $20,476,000

Sandcastle residence 1 3,900 $3,499,000 - $3,499,000 897 $3,499,000

Total 48 15,256 $3,210,250 868 $154,092,000

SALES PRICE

THE

FUTURE

OF SEA

DUNES

OUR VISION


OPPORTUNITY 15

ACCORDING TO CURRENT ZONING

REGULATIONS

41-50 units can be built with as

many feet/floors as can fit as long

as the zoning setbacks regulations

can be satisfied.

In summary, a similar project to

5,000 North Ocean can be built

= +/- 15,000 Sqft.


OPPORTUNITY 17

THANK YOU

SEA DUNES INVESTMENT OPPORTUNITY...INVESTMENT OPPORTUNITY Exciting opportunity at Sea Dunes in...

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