Johnston, JSB launch sales for renovated Palm Beach Shores condos

Johnston Group Capital Management and JSB Capital Group are launching sales of a renovated Palm Beach Shores condominium and marina.

The partners bought the site for the 36-unit project, Havn Residences & Yacht Club, in November for $58.5 million. With a $20 million renovation led by Miami-based interior design firm Shim Projects, prices for the units start at $2 million, according to a press release. The Heilman Team at Compass is leading sales and marketing for the project, the release shows.

Floor plans for the 36 units range from 1,800 square feet to 2,700 square feet, and include two- and three-bedroom options. Renovations for the condos are expected to be completed starting in April, according to the release. 

The condos are spread across five buildings on 2.5 acres, the release shows. Amenities in the complex will include a pool, fitness center, concierge, complimentary bikes, kayaks and paddle boards, and beach access with cabanas. Havn also includes a 52-slip marina that will be managed by F3 Marina, the Fort Lauderdale-based yacht club manager led by President John Matheson.

Jupiter-based Johnston Group Capital Management is led by founder and CEO Ryan Johnston. Miami Beach-based JSB Capital Group also has offices in New York and Baltimore, according to its website. Its founder is J. Jay Lobell.

The deal marks the second condo project launched in Palm Beach Shores in a year. In May, developer Deepak Khosa launched sales of his planned 18-unit oceanfront condominium, Pearl, with prices starting at $3.6 million.
Last month, supermarket supplier Michael Bozzuto bought the single-family estate adjacent to Havn for $31.2 million, in an off-market deal.