Chasen, ASG launch sales of Boca Raton condos

Chasen Companies and ASG Development are launching sales of their planned boutique Boca Raton condo project. 

Glass House Boca Raton will have 10 stories and 28 units, with prices ranging from $2.5 million to $6.9 million, according to a press release. Baltimore-based Chasen Companies, led by CEO Brandon Chasen, and Adam Gottbetter’s ASG Development tapped Douglas Elliman Development Marketing to lead sales of the planned building at 280 East Palmetto Park Road.

Glass House will be Chasen’s first South Florida project. The developer primarily focuses on multifamily, commercial and single-family projects in the greater Baltimore area, and most recently expanded to Tallahassee. Gottbetter, who was convicted of conspiracy to commit securities fraud in 2015 in New Jersey, launched ASG in Boca Raton in 2016. He was sentenced to 18 months in prison in Miami and paid a $4.6 million fine, according to published reports. He had previously invested in Chasen’s projects before partnering with it for Glass House, he said. 

The developers bought the 0.7-acre site for $9.8 million in May, records show. 

Glass House units will span 2,500 square feet to 4,000 square feet, with floor plan options ranging from two to four bedrooms, the release shows. Condos will have private two-car garages and storage spaces, and some will also have private elevator entrances. Amenities in the building will include a fitness center, spa facilities, a rooftop pool and a private bar for residents, according to the release. 

Gottbetter’s target market are Northeasterners and Californians relocating, and local buyers looking to downsize from larger homes.

“We think that it will probably be 50/50 between people from South Florida and people from up north,” he said. 

For those buyers who are relocating, the developers are seeking to smooth out the move by offering access to luxury services. They partnered with the Boca Raton, formerly the Boca Raton Resort & Club, to offer 20 memberships to the club. Chasen and ASG will cover the initiation fees, and buyers will pay annual dues. They are also covering the first year of membership to Sollis, a concierge medical service with a new location in Boca Raton. 

“It was the Elliman team who made me aware of Sollis,” Gottbetter said of the partnership. Glass House is the second South Florida condo project to partner with Sollis, following Savanna’s planned Olara condos in West Palm Beach. More and more, developers are including concierge medical and wellness offerings in their projects to attract luxury buyers, who often don’t want to navigate the process of finding new doctors after moving to Florida. 

“Health care is a real driver of people’s interest,” said Elliman’s Florida CEO Jay Parker. He also emphasized that luxury condo supply is not sufficient to satiate demand. Boca Raton has seen less condo development than other areas of South Florida, but more projects are in the pipeline. Key International, Miami-based Integra Investments, and West Palm Beach-based Wexford Real Estate Investors completed the four-story, 32-unit Boca Beach Residences last year. In August, Penn-Florida Companies landed a $302.5 million loan to build the 86-unit Residences at Mandarin Oriental.