Michael Dell's Boca Raton Real Estate Venture Sees Strong Condo Sales
Nearly half of the luxury residences at The Boca Raton resort have been purchased since sales began.
Michael Dell's investment in Boca Raton's luxury real estate market is demonstrating significant success, with approximately 40% of the newly developed condos at The Boca Raton resort being sold within months of their release. This marks the first time in the 100-year history of the Florida resort that residences have been offered for sale on its grounds.
The project, located at 501 E Camino Real, features 75 homes with prices ranging from $8.95 million to over $20 million for units offering three to five bedrooms. Initially, starting prices were reported by Bloomberg to be around $4 million, with a subsequent sales announcement in May indicating a floor of $5 million for two-bedroom units. The current cheapest unit is more than double that initial projection.
The available residences include terrace units, penthouses, and three villas, each featuring private gardens, plunge pools, and outdoor kitchens. According to the resort, owners will receive butler service, with childcare and pet care also available. Newly released renderings showcase the planned residences.
The development offers extensive private amenities, including a rooftop pool with cabanas, a spa with a hammam and thermal suites, a fitness center with a Pilates studio, and a golf simulator. A card room and a residents' lounge with a dedicated bartender are also included.
Sabrina Gleizer, a partner at developer BDT & MSD Partners, stated that homeowners will experience a "highly amenitized lifestyle serviced by the resort," featuring 45,000 square feet of private indoor and outdoor amenities. A unique Residential Club Membership extends benefits to owners' parents and children, which Gleizer described as a "truly unique offering."
The resort, originally opened by Addison Mizner in 1926, currently comprises about 1,000 rooms across five hotels, complemented by a beach, golf course, marina, spa, and tennis courts. It holds the distinction of being the only Forbes quadruple five-star resort in the Americas.
Mixed-use developer BDT & MSD Partners, formed by the merger of Dell’s MSD Partners and Byron Trott’s BDT & Co., acquired the property for $875 million in 2019. The firm has since invested approximately $375 million in upgrades, including repainting the main building and bringing in the New York restaurant group behind Carbone to manage dining establishments. Room rates at the resort can now exceed $1,000 per night.
The eight-story condominium building received city council approval in March, with construction scheduled to commence late this year and conclude in 2029. The architectural design is by Hart Howerton, with interiors by Pembrooke & Ives, drawing inspiration from Mizner's original style. Units will feature expansive terraces, floor-to-ceiling glass, white oak, marble finishes, and kitchens equipped with Sub-Zero, Wolf, and Cove appliances.
The surrounding area is known for its high-value real estate. Nearby is the Royal Palm Yacht & Country Club, where NFL player Travis Kelce rented a mansion during the 2025 offseason, and a speculative home sale reached a record $75 million in May. Actor Kevin James also recently purchased a property in the community for $17.15 million.
Sales are being led by Senada Adžem of Douglas Elliman, with the developer emphasizing that this will be the sole opportunity to purchase homes on the resort's property.