A new luxury condominium is coming to South Palm Beach—the first on the whole island in over a decade.
3550 South Ocean, named for its address at 3550 S. Ocean Blvd., will offer amenities such as an oceanfront pool, private beach access, a fitness studio, parking, and private storage. It’s going up on the site of the former Palm Beach Hawaiian Ocean Inn, a Polynesian-style hotel and restaurant that was demolished last fall after 50 years in operation. The new property will be developed by DDG.
“[I]t is incredibly rare to be able to develop a new beachfront property from the ground up in Palm Beach,” DDG’s CEO, Joe McMillan, said. The six-story oceanfront condo will have 30 residential units, going for $2.3 million to around $5 million each. Douglas Elliman brokers will handles sales. Each unit will have floor-to-ceiling windows and private terraces overlooking the Atlantic Ocean and Intracoastal Waterway. Plus, the penthouse owners get their own rooftop entertaining space.
McMillan said he feels the building’s location—with its direct connection to the beach—makes the property unique.
“There just hasn’t been a residential building like this in the Palm Beach market in years,” he said.
3550 South Ocean’s groundbreaking is expected to take place later this year, with the project’s completion date set for the first half of 2018, according to McMillan.
McMillan expects 3550 South Ocean to appeal to locals from Palm Beach who wish to downsize from larger houses and to buyers who are new to the area looking for a first or second home on the ocean.
“Palm Beach holds great appeal to local buyers, as well as people from the Northeast, the Midwest, and internationally,” he said.