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The Wave Debuts New $30M Look

HOLLYWOOD BEACH, FL-A joint venture of Centrum Properties and MCZ Development, 2501 Ocean LP, were the developers of the Wave on Hollywood Beach, which is selling residences from $135,900. The project consists of 551 units.

By Melissa Bogdany | Updated on March 16, 2004

HOLLYWOOD BEACH, FL-Developers have completed $30 million in renovations to the Wave on Hollywood Beach, an oceanfront condominium tower in the city. The 15-story tower is located on five acres at 2501 S. Ocean Drive (A1A).

The developer was 2501 Ocean LP, a joint venture of two Chicago-based developers, Centrum Properties and MCZ Development. They renovated the art deco structure to modernize and upgrade utilities, amenities and residential features. They are marketing the project as affordable oceanfront real estate, selling residences from $135,900. Rosalia Picot of Picot & Co., the exclusive sales and marketing organization for the Wave, expects a quick sellout due to the low price point and the immediate occupancy.

The Wave has studios and one- and two-bedroom units. All 551 units feature panoramic views of the Atlantic Ocean or Intracoastal. The property also includes more than 35,000 sf of ground-floor retail space, including the gourmet food store Laurenzo’s Market, as well as a full-service spa and an oceanfront indoor/outdoor restaurant.

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