By: Brett Pizzi Contributing Writer
Luxury condos have found their way to the SOFA district. The development will be the first condos to hit Delray in 10 years.
Sofa Partners, a South Florida real estate and development company featuring two prominent international real estate families known for high-quality urban development outside the United States, brings a mesh between contemporary urban living and artistic style.
Residents will just be steps away from Atlantic Avenue. The five-story residential complex will feature 70 residences, outfitted with modern technology, a variation of decor options, several floor plans ranging from one-,two-and three- bedrooms and amenities such as a swimming pool with poolside cabanas and a fitness center for residents only.
Sofa Partners is led by two father-son duos, Manuel and Felipe Vergara, and Rafael and Daniel Rincon. With 35 years of development experience behind Manuel and Rafael, the creation of the first new condo development in nearly a decade is an exciting prospect for the pairs.
“We all share a vision for long-term development, investment, and management in South Florida, in part because it’s where we love to spend most our time,” Felipe Vergara said. “The Vergara and Rincons represent long-term family real estate success, and our partnership in Sofa Partners will solidify our best-in-class development platform. This collaboration has unlimited potential to develop a stellar portfolio in emerging markets in South Florida, and we intend to set the standard for quality with 111 First Delray.”
The project begins breaking ground within the next few months and over 50 percent of the condos have already been pre-sold. With business partners including George Ligeti of The Greenfield Group and Paul Kilgallon of Mainstreet Capital Partners, Sofa Partners has brought an extensive array of business and general management talent to the table.
With condos ranging from $400k to about $1 million, Vergara believes that 111 First Delray is just what Delray needed in terms of luxury condos that are close to what makes Delray great-the people, the food, the art and the beach.
“We selected Delray Beach because it has become the place for locals and visitors alike to dine, shop, socialize and experience an urban setting mixed with a quaint beachy-vibe,” Vergara said. “We saw an opportunity to meet a market demand and offer a luxury ownership alternative by creating an exciting and modern property, just feet from all the action.”
For more information regarding 111 First Delray, visit www.111firstdelray.com