Jeffrey Soffer and Barry Sternlicht are launching sales for a 1 Hotels-branded oceanfront luxury condo project on Jupiter Island.
It marks Soffer’s second boutique condo project on Jupiter Island, following his $168.8 million sellout in 2023 of SeaGlass Jupiter Island, a 10-story, 21-unit condominium he built with Perko Development Partners.
Soffer’s Fontainebleau Development and Sternlicht’s Starwood Capital Group are partnering on the 10-story, 26-unit 1 Homes Jupiter Island, according to a press release. The project is planned for 300 Beach Road in Tequesta, which is on the southern end of Jupiter Island.
Units will range from 4,000 square feet to 6,000 square feet, with three to four bedrooms. 1 Homes Jupiter Island will have three penthouse units, each with a private rooftop and spa, the release shows. Amenities in the building will include a pool, social room, salon and spa facilities, according to a unit listing. Prices range from $11 million to $27 million, and the project is expected to be completed in 2027.
The design team includes Miami-based Swedroe Architecture and interiors firm Fanny Haim & Associates, the release shows.
Soffer bought the 2.3-acre site for $30.6 million in 2021, according to Traded. It was previously the home of Island House SouthEast, an aging condominium built in 1967, South Florida Business Journal reported. It is adjacent to the Regency Condominium at 250 Beach Road, another aging oceanfront condo building Soffer bought out for about $100 million in 2022. Soffer and Perko Development are planning a 10-story, 34-unit condominium on that 3.3-acre site, the Business Journal reported in 2022.
The projects point to a growing development boom on Jupiter Island, a market mostly known for its luxury single-family homes. The area frequently attracts high-profile buyers. University of Alabama football coach Nick Saban bought an oceanfront home on the barrier island for $17.5 million in 2023. Conair heiress Babe Rizzuto bought an oceanfront estate for $35 million in 2022. Buyers in the SeaGlass project included the CEO of Krispy Kreme, BitPay CEO Stephen Pair, and Big Ten commissioner Tony Petitti, who later flipped his unit for $9.4 million, a 71 percent gain.
In July, the Kolter Group and Perko won a zoning amendment that paved the way for further condo development on the island.