News & Updates

The Boca Raton – New York Connection

The Wall Street Journal – Forget sandy beaches and palm trees. Many condo owners love Boca Raton, Florida, because it feels so much like New York. Brian Weiner of Colts Neck, New Jersey says, “My wife Janet and I grew up in New York, but now we live in an area with a lot of horse farms. A few years ago we bought a vacation condo in Boca, and within 24 hours we felt at home. It was like living in the city again.” “We can leave our condo and walk to 30 to 40 restaurants and bars. Several New York restaurants have opened branches here, and one local steakhouse even named itself after New York,” he says. Top New York retailers have stores in the Town Center of Boca Raton Mall, as well.

Jay Parker, CEO of Douglas Elliman Real Estate’s Florida brokerage, says that potential buyers are “coming in droves” from states like New York, New Jersey, Connecticut and California. Many are tax refugees who want to escape high-income-tax states for Florida’s income-tax-free status, he says. Others follow corporate jobs headquartered in Boca Raton. And many are empty nesters and retirees wanting a place large enough to entertain their vacationing children and grandchildren. Such buyers, are used to a certain level of luxury, and Boca-area developers are evolving their architecture, unit sizes and interior finishes to suit them. Akoya Boca West, for example, is the first luxury property to be built within the Boca West Country Club community in over 20 years. The high-rise offers 113 units with two to four bedrooms, plus a den, priced from $1 million to over $4 million. “The minute we drove through the gate, Akoya was beyond my expectations,” says one buyer. It’s like living in a fancy hotel.”

The Wall Street Journal – READ MORE