Ritz-Carlton Residences at Singer Island Host Grand Opening
Luxury is on the rise in Palm Beach once again. Lionheart Capital, owner of The Ritz-Carlton Residences Singer Island, is hosting the official grand opening of the 8.8-acre oceanfront property on January 21. The two tower complex is one of only six stand-alone residential properties managed by the Ritz-Carlton brand worldwide. In June 2010, Lionheart, in partnership with Elliott Management Corporation, closed the $120 million bulk purchase of the remaining inventory at 2700 North Ocean (a total of 146 units in the 242-unit project). The property converted to The Ritz-Carlton Residences Singer Island, Palm Beach on November 1. Real estate in South Florida continues to struggle but news from this property is strong so far, with only 60 days on the market as a Ritz-Carlton, the property has already logged $20 million in sales.
The opening celebration includes accreted indoor/outdoor art tour featuring works from the private collections of Carlos and Rosa de la Cruz, Ella Cisneros Fontanals, Marvin and Elayne Mordes, Jane Holzer and Beth Rudin DeWoody, as well as pieces on loan from Art Palm Beach by Litvak Gallery and Albert Paley, among others. The event will include the unveiling of the Signature Residence models as well as samplings of food prepared by the property's new chef.
Residence features include sliding hurricane-resistant doors, granite kitchen counterops, travertine marble flooring in the bathrooms, Sub-Zero. Wolfe and Miele kitchen appliances and more. Each building has valet parking and the services of a 24-hour concierge as well as a social room with a catering kitchen, a fitness center, private screening room and a business center. The two towers share a heated oceanfront lagoon pool, a heated lap pool, two spas, poolside summer kitchens and easy access to the beach. Other special amenities available for purchase include private enclosed garages, oceanfront cabanas, private guest suites, garages for sporting equipment and air-conditioned private storage rooms. The beachfront residences are priced from $700,000 to over $10 million.
More proof that luxury is on the rise in the area is the debut of the Ferrari Palm Beach dealership in West Palm Beach on the same weekend. The dealership is hosting a cocktail party on January 21 in advance of the 20th Annual Palm Beach Cavallino Classic which features the most prestigious vintage and new Ferraris in the world. The six-day convention for Ferrari aficionados brings 400 Ferraris from around the world. Tickets to Ferrari's Concorso d'Eleganza at The Breakers Resort and Hotel on January 22 are $50.