Cervera Real Estate is expanding to Palm Beach.
The brokerage, headquartered in Brickell and a longtime sales powerhouse for Miami’s waterfront condo towers, is opening offices on the island and over the bridge in West Palm Beach, according to a press release.
Led by founder and Chairman Alicia Cervera and her daughters, managing partner Alicia Cervera Lamadrid and CEO Veronica Cervera Goeseke, the firm will open its offices at 250 Worth Avenue in Palm Beach and 600 South Dixie Highway in West Palm Beach by mid-March, a spokesperson confirmed. The firm owns the 1,700-square-foot office space in West Palm Beach, and signed a three-year lease for the 1,000-square-foot Worth Avenue office, according to a spokesperson.
“We see fertile territory,” said Cervera Lamadrid.
For Cervera’s speciality of selling preconstruction condominiums, West Palm Beach certainly has much to offer. Thousands of units are planned for the city’s waterfront corridor, catering to an influx of luxury buyers driven by corporate relocations to the area and the lack of a state income tax.
Since November, Steve Ross’ Related Companies launched sales for its planned South Flagler House, where prices range from $5.9 million to $72.5 million for the penthouse, and Shorecrest, where prices are $1.3 million to $9 million. Terra and Sympatico Real Estate are planning Cipriani-branded condos with prices starting at $2 million.
Cervera Lamadris said the brokerage is angling to represent one of the many projects planned for West Palm Beach. “Our hat is in the ring,” she said.
While acknowledging West Palm Beach’s condo boom, she emphasized the desire of Cervera’s agents to move into the market. Cervera tapped Julie Harron to helm the Palm Beach office, and Susana Diaz Martinez to lead the West Palm Beach office. Harron joins the brokerage after relocating from Chicago, where she still hangs her license with Jameson Sotheby’s International Realty. She is currently working with K2 Corporate Mobility to relocate several executive teams from Illinois to South Florida, according to the release.
Harron said she sees buyers coming to Palm Beach from Chicago, New York, Dallas, London and Singapore.
“There’s a high level of growth from the banking industry, investment industry, law firms,” she said.
Cervera’s expansion is the latest in a string of brokerage moves, as firms aim to assert dominance on the highly desirable Palm Beach and West Palm Beach turf. Earlier this month, Compass relocated its island office to Worth Avenue, signing a 10-year lease. Last year, Serhant announced expansion plans in Palm Beach County, and The Agency expanded to Palm Beach. Corcoran bulked up its leadership in its island office, adding Marcia Van Zyl as senior managing director for South Florida and Ryan Fitzpatrick as regional vice president for Palm Beach.