After just a few months of sales, Park Slope , a boutique townhouse community, is nearly sold out of its 14 units.
The project, at Lake Avenue and N Street, is by developer Neil Kozokoff of Parkland Properties. Together with partner Sam Fisch of Real Estate Solutions, they built the first new multifamily project in years in Grandview Heights, a historic neighborhood west of Dixie Highway, just south of Okeechobee Boulevard.
Park Slope could be an indicator of demand for new homes in the bustling South Dixie Highway corridor.
In order to gain city approval, Kozokoff said had to create a design that had some historic element to it. So he settled on an Art Deco-style to match the Armory Art Center on nearby Parker Avenue.
The result? A project that looks like it could be plucked from South Beach.
Sandwiched between Dixie Highway and the train tracks, Park Slope has plenty of amenities within walking distance. They include CityPlace, the convention center, the new Hilton Hotel and across the tracks, the new Grandview Public Market food hall.
Kozokoff said he took a bet that the West Palm Beach market was ready for an upscale new townhouse. During the course of building the project, he decided to make the townhouses even more luxurious, using Bosch appliances, Italian cabinetry and extra storage space.
“We put a lot of thought, and money, into this,” Kozokoff said, pointing out the 20-by-40 inch tiles.
Prices are not inexpensive. The three-story, three-bedroom townhouses started at $650,000 and go up to $899,000. With 10 of 14 townhouses sold, remaining units start at $689,000.
Park Slope features six units facing Howard Park; and another eight units, each with private swimming pools, in a separate building along N Street. Seven of the eight Slope units are purchased, with one remaining for sale. On the Park side, three remain available.
Kozokoff said several buyers are locals who have children and want them to attend Palm Beach Public elementary school, he said. Other buyers just want to experience the urban lifestyle and walk to nearby restaurants and shops.
If enough land can be assembled, Fisch and Kozokoff expect more new projects like Park Slope in the downtown area in the future, particularly with technology making it easier for those with high incomes to work from anywhere.