The Most Opulent Listing In Lake Park Hits The Market At Nautilus 220 In The Palm Beaches

Royal Palm Companies and Forest Development have revaled Penthouse F5, the final penthouse available. PHF5 is a stunning home with a rooftop terrace at Nautilus 220, a new luxury mixed-use development with condominium residences in two, 24-story towers, with restaurants like SeaHawk Prime by David Burke, retail, and offices all alongside a full-service marina. With nearly 4,600 square feet of total living area and a rare private roof terrace with pool, the residence is the most coveted listing in Lake Park to be announced at $4.6 million.

Located on the top floor of Nautilus 220’s South Tower, Penthouse F5 boasts 12-foot ceiling heights, two spacious bedrooms and two and a half ultra-luxe bathrooms. The rooftop terrace includes a summer kitchen, private pool, and sun deck. The residence also features direct elevator access to the foyer for ultimate privacy.

“Nautilus 220 brings a first-of-its-kind luxury development to the Lake Park area in the Palm Beaches and the penthouse gives residents an unparalleled level of oceanfront luxury,” said Peter Baytarian, Managing Partner of Forest Development. “As Palm Beach country continues to gain popularity and momentum with fans of waterside living from near and far, this penthouse is a truly elite option for living the South Florida dream that is minutes from famed Palm Beach and the ultimate luxury shopping, dining, and lifestyle.”

Nautilus 220 is comprised of 330 two- and three-bedroom residences in two, 24-story towers ranging from 1,500 to 3,400 square-feet. Various floor plans with plunge pools, summer kitchens, and unobstructed views of the Intracoastal Waterway and Atlantic Ocean. The project also offers an array of amenities including a one-acre outdoor amenity deck, resort-style pool, rooftop lap pool, wellness plaza, putting green, club room, theatre lounge, billiards, bowling, off leash dog run, guest suites, and private beach club access. The lobby, common areas, 5th floor amenities and model residence were each thoughtfully designed by Interiors by Steven G. Inc. Located in the popular Palm Beaches, this luxe development provides direct access to SeaHawk Prime by David Burke, as well as various other waterfront restaurants, retail, and office suites. Nautilus 220 is also set alongside the popular Lake Park Harbor marina offering slips for boats up to 100 feet.

“Nautilus 220 brings a unique, mixed-use experience to those in the Lake Park area with residential, F&B, retail, and office space all in one development,” said Daniel Kodsi, CEO of Royal Palm Companies. “The future resident of Penthouse F5 is someone who loves the Palm Beach lifestyle, but wants more in terms of new construction, amenities, and contemporary style. This resident will also appreciate the opportunity to own on the water just minutes from the beach at these prices. This is Palm Beach 30 years ago and has a tremendous opportunity to grow and appreciate in value with all that is going on in the area. PHF5 is its own private oasis with access to all of Nautilus 220’s top-notch amenities.”

The Nautilus 220 development team includes Forest Development and Royal Palm Companies. The design team includes architecture by R+N Architecture, interior design by Interiors by Steven G. Inc., and planning and landscape by Insite Studios. Sales and marketing for Nautilus 220 is being handled by Oculus Realty. Nautilus 220 is approaching 80% sold with construction expected to be completed in Fall 2024.

Renderings via Nautilus 220

Forest Development Closes On $269 Million Construction Loan For Palm Beach County Condo

Forest Development has locked down a $269 million construction loan for Nautilus 220, a 330-unit luxury condominium project that is the first of its kind in Palm Beach County’s Town of Lake Park. Nautilus 220 will be 24-story twin condo towers on the water with a restaurant from renowned chef David Burke and many amenities in the once-overlooked town just across the Intracoastal Waterway from Singer Island. Nautilus 220 is already 60% pre-sold. Prices range from the $800,000s to more than $3 million.

The loan was arranged by Concord Summit Capital, LLC (“Concord Summit”) and provided by Fortress Investment Group to the Peter Baytarian-led Forest, which recently brought on Daniel Kodsi of Royal Palm Companies as a co-general partner in Nautilus 220. Concord Summit Director Justin Morrow and Managing Director Kevin O’Grady, both of Concord Summit’s Miami office, sourced the financing on behalf of the borrowers. Construction is underway, with an estimated completion in the second quarter of 2024. The project’s floating sales center is located on a barge in the Lake Park marina.

“This was an exciting transaction to work on, given the unique nature of this project,” Morrow said. “The borrowers are visionary developers who are bringing a resort-style waterfront living experience to Lake Park. Nautilus 220 truly has no counterpart in the market.”

“It has been a pleasure working with Concord Summit Capital over the past two years as they guided us through more than 13 financing opportunities for our Nautilus 220 mixed-use development in Lake Park,” said Baytarian, Managing Partner, Forest Development.” “The team saw the value of this project at the outset, and with their professional and invaluable expertise, as well as relationships in the industry, secured the perfect lender for us and this project.”

“We successfully leveraged our strong relationship with the team at Fortress to complete the transaction,” O’Grady said. “It was a pleasure to have the opportunity to work with them again. Nautilus 220 should continue to experience brisk sales activity, as the one-of-a-kind project fills a void for brand-new waterfront condos in northern Palm Beach County.”

Nautilus 220’s residences include a mix of one-to-four-bedroom condos ranging from 1,100 to 3,400 square feet, with a variety of floor plans offering unobstructed water views. Penthouses come with 2,000-square-foot private rooftop terraces, plunge pools, summer kitchens and 12-foot ceilings. The project includes a one-acre outdoor amenity deck and additional amenities including mini-bowling, billiards and card tables, a multipurpose soundproof studio for music and podcasts, golf simulator, theater lounge, club room and more.

The towers are being constructed alongside an active marina with 100 slips accommodating boats up to 100 feet. The development also has easy inlet access for water sport recreation from snorkeling and scuba diving to jet skiing, kayaking and paddle boarding.

Burke, the acclaimed restaurateur, selected Nautilus 220 as the location for his first Florida restaurant. The two-level, 7,500-square-foot waterfront restaurant with indoor and outdoor seating will feature modern American cuisine.

Kast Construction is the project’s general contractor. Interiors by Steven G. is the project’s interior designer.

Forest Development Launches Sales At RDA Architects-Designed Nautilus 220 In Lake Park

Forest Development has launched sales at Nautilus 220 in Lake Park in North Palm Beach County. The waterfront project is alongside Lake Park Harbour Marina with 100 slips for boats up to 100', as well as easy inlet access for a variety of water sport recreation. Nautilus 220 offers 330 condominium residences in two 24-story towers designed by RDA Architects with interior design by Steven G and landscaping by Insite Studio.

Units will range from 1,500 to 3,400 square feet and feature panoramic views of the Lake Park Harbor Marina, Intracoastal Waterway, and Atlantic Ocean. The penthouses will have rooftop terraces of over 2,000 square feet, with plunge pools and summer kitchens.

Amenities include a private dining room, resort style pool, a rooftop lap pool, fitness center, yoga deck, summer kitchen, fire pit, life-size chess board, bowling alley, billiard room, club room, soundproof music studio, golf simulator, 12 guest suites, access to a private beach club access on Singer Island with beach chair, food and beverage services.

Pricing at Nautilus 220 starts in the $700,000’s and ranges up to over $3 million with sales and marketing being overseen by Compass. A floating sales gallery is expected to open in the Lake Park Harbour Marina in May. Groundbreaking is planned for Fall 2021 with an expected completion in late 2023.

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