What’s Up In The Real Estate Market…

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GL Homes introduces the Legal Aid Society’s Guardian young adults to experience FAU Football

GL Homes recently spent a morning at Florida Atlantic University in Boca Raton with clients from the Legal Aid Society of Palm Beach County.

These developmentally disabled young adults, who have no family to care for them, are part of Legal Aid’s Guardian Advocacy Project.

With the help of FAU’s football program, the Legal Aid Society and GL Homes organized a football practice session for these special young people.

Many of them threw and caught a football for the first time.

ONE Sotheby’s International Realty acquires Nestler Poletto Sotheby’s International Realty

ONE Sotheby’s International Realty recently expanded into the Delray Beach and Boca Raton markets by acquiring affiliate brokerage Nestler Poletto Sotheby’s International Realty.

The acquisition took place at the end of 2018 and allows ONE SIR to expand into an area missing from its South Florida portfolio.

ONE SIR inherited about 80 agents into its network of more than 900 real estate professionals.

The addition is the firms fourth acquisition in just over a year, and brings the brokerage’s total number of offices to 17 locations across South Florida.

“Delray Beach and Boca Raton have consistently shown growth in luxury sales each quarter and were the only missing pieces in ONE SIR’s South Florida portfolio,” said Daniel de la Vega, president of ONE Sotheby’s International Realty. “Nestler Poletto’s business model, like ONE SIR’s, focuses on a customer and agent-centric approach to real estate and we knew this was the perfect opportunity for us to expand our presence in the market.”

Specializing in luxury properties in the Delray and Boca markets, the award-winning brokerage firm has produced more than $235 million in sales revenue in 2017.

Founded by Mark Nestler and John Poletto nearly 30 years ago, NPSIR quickly became one of the most acclaimed and successful luxury real estate firms in the area, with a mission focused on incomparable client service. The duo, who have been recognized for their years of experience both locally and nationally, will continue to spearhead the offices.

“We’re honored and privileged to join forces with another real estate powerhouse in the Sotheby’s brand, especially one that is growing with tremendous strength like ONE SIR,” said Mark Nestler.

“This is the absolute best decision for our exceptional sales associates and staff in keeping us on the forefront of luxury real estate sales in South Florida, and we welcome the opportunity to work with Mayi, Daniel and the rest of our ONE Sotheby’s family,” said John Poletto.

In Delray, ONE SIR’s 111 First Delray Beach generated 10 sales totaling $7 million in the first quarter of 2019.

In Boca, the company signed two high-end properties at 327 Royal Palm & Royal Palm Residences. In less than one month, two units were sold at 327 Royal Palm.

ONE SIR recently celebrated its 10-year anniversary this past December.

Lang Realty’s 8th annual Open House Extravaganza raises money for Child Rescue Coalition

Lang Realty recently presented the Child Rescue Coalition with a $5,000 donation from a percentage of proceeds from the company’s 8th Annual Open House Extravaganza, where homebuyers had the opportunity to tour more than 300 properties throughout Palm Beach County and the Treasure Coast.

Priced from $200,000 to upwards of $11 million, properties included single-family residences, waterfront homes, country club communities and condominiums.

“We are pleased to announce another successful Open House Extravaganza,” said Scott Agran, President of Lang Realty. “In addition to raising money and awareness for a great cause, our agents had the opportunity to meet many prospective homebuyers who experienced the Lang difference firsthand.”

Child Rescue Coalition’s mission is to shield, rescue and safeguard children from sexual exploitation. The non-profit organization uses leading-edge technology to help track, arrest and convict those who use the Internet to harm young children through sexual exploitation.

For more event information call 561-989-2100 or visit www.langrealty.com.

Azure Development sues city of Boca over denied request for proposed oceanfront project

After Boca Raton council members denied Azure Development’s variance request it needed to build a four-story duplex on the beach, the developer decided to take the city to court.

The Delray Beach-based builder proposed building Boca Beach House, a four-story duplex on the .42-acre site located at 2600 North Ocean Boulevard.

To do so, it needed a variance from the city, which was denied on Feb. 26.

About a month later, the developer filed a lawsuit in Palm Beach County Circuit Court seeking to overturn to the council’s decision.

The suit alleges that the city council disregarded private property rights and that the city’s actions were “biased” and showed “self-interest.”

To build the project, the developer needed a variance for building east of the Coastal Construction Control Line set by the Florida Department of Environmental Protection.

Several council members said they would not support any variance request that would allow the property to be developed in order to protect the city’s “legacy of beachfront preservation,” the suit states.

The suit states the city “openly expressed its desire to acquire the property through eminent domain or negotiation.” The developer offered to sell the property to the city at the city’s own appraisal rate of $7.2 million in January 2018.

Council members called the price “ridiculous” and had “one zero too many,” according to the lawsuit.

To drive the price and value of the property down, the suit alleges the council voted against the variance.

The suit also claims the city thwarted the ability of the developer’s expert witnesses to provide evidence that the project would not negatively impact sea turtles, the dune system or vegetation.

Azure filed a related lawsuit on March 15 alleging that the City of Boca Raton violated the state’s Public Records Act by withholding public records.

The city of Boca does not comment on pending litigation.