The Bonita Springs-based developer of luxury single-family and multifamily communities closed on 116 sales during first-day delivery of units in the 133-unit, 20-story Montenero condominium tower in nearby Naples--a total value of about $110.3 million. Another 14 sales are expected to close within a week.
Only two of the 11 penthouse units in the building remain up for sale, each containing from 5,865 to 5,930 sf. "The 130 units the company has sold carry an average sales price of more than $1 million," George Page, WCI Communities senior vice president, says in a prepared statement.
The Montenero is one of 20 luxury high-rise buildings the company has completed over the past 11 years. Nine more are under construction mostly in coastal communities in Southwest and Southeast Florida.
Announcement of the sales performance is likely to further boost the company's earning performance. Earlier this month, the reported earning net income of $27.7 million on revenue of $431.8 million for the six months ended June 30. That compares with a net gain of $23.4 million on revenue of $302.5 million for the same period a year ago.
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