Boca Raton Condo Project Receives $70M for Construction
Maxim Capital provided the funds for the development.
Developer 280 E. Palmetto Park Road LLC has obtained a $70 million construction loan for Glass House Boca Raton, a 28-unit luxury condominium development being built in Boca Raton, Fla. Maxim Capital provided the financing, and Arrow Real Estate Advisors brokered the deal.
This new financing will fund the vertical construction of the community through completion, which is set to start in the second quarter of this year. It refinances an $9 million early-work loan that the project previously received from Maxim Capital. That work included the construction of an underground parking garage.
The developer broke ground on Glass House in April 2025, and has since finished the building’s foundational work. The project is expected to be complete in late 2027, and will rise nine stories.
The financing was arranged by Morris Betesh, founder and managing partner at Arrow Real Estate Advisors, along with Morris Dabbah, senior vice president and associate Louis Halperin.
Inside the Glass House
Glass House will comprise 28 condos varying between 2,504 and 3,865 square feet with two- to four-bedroom floorplans. The construction site sits at 280 E. Palmetto Park Road in downtown Boca Raton.
Individual homes will feature smart locks, high ceilings, private terraces, stone countertops and other modern finishes. West Palm Beach-based architecture firm GarciaStromberg is the lead architect on the project while Kaufman Lynn Construction is the general contractor.
The development will be the city’s first modern glass building Boca Raton’s downtown area when it is completed in late 2027. Future residents will have access to a rooftop deck featuring a pool, an outdoor kitchen, fire pits and private cabanas. The community will also include a fitness center, a sauna, a steam room and lounge.
Each residence will have access to two parking spaces.
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Condo sales for Glass House Boca Raton began in early 2024. Prices range from $2.7 million to $8 million. The project has surpassed the one-third mark in sold residences.
The property is one mile away from the beach. Close by is The Boca Raton Golf Club, where residents have preferred membership opportunities as well as multiple retail and dining options. The Boca Raton Brightline station is also within walking distance of the community.
Last month, Rockpoint joined 13th Floor Investments in development of Link at Boca, a 340-unit community taking shape at 680 W. Yamato Road in Boca Raton. The joint venture plans to build a transit-oriented development at the site.
Last September, Mill Creek Residential began construction on Modera Downtown Boca, a luxury apartment community also in Boca Raton. The community will include 306 apartments when it opens in 2028.
