OKO Group, Cain International Launch OLIN Palm Beach Condo Sales
The South End's first new condo project to reach the building stage in two decades goes to market with units priced past $40 million.
OKO Group and Cain International have named their ultra-luxury Palm Beach condominium OLIN Palm Beach and opened sales, with price tiers running from under $20 million to more than $40 million per unit. The Miami-based OKO Group, led by Vlad Doronin, and London private equity firm Cain International are replacing the shuttered Ambassador Hotel and an adjacent lakeside building at 2720 and 2730 S. Ocean Blvd. in Palm Beach’s South End, where demolition of the existing structures is now underway.
Why it matters
Palm Beach’s South End has not seen a new condo building reach construction in roughly two decades, since Bellaria delivered in 2006, so OLIN is a test of whether that stretch of the island can support ground-up ultra-luxury pricing rather than only renovated co-ops and estate resales. Corcoran Group is running sales as exclusive broker, and the developers are betting the site’s oceanfront and Intracoastal frontage across three low-rise buildings, rather than a single tower, will draw buyers who want scale without a high-rise. Watch the South Florida market hub for how the project’s asking prices hold once contracts start closing against the island’s current condo record.
The numbers
The project spans 32 residences across three five-story buildings, two oceanfront and one facing the Intracoastal Waterway, each with underground parking. Listed price tiers on the project’s sales site group units as up to $20 million, up to $30 million, and over $40 million. The current Palm Beach condo sale record stands at $23.75 million, set in 2022, a mark the top tier at OLIN is priced to beat.
What’s next
The Town of Palm Beach’s Architectural Commission has already cleared the bulk of the project’s design, and demolition of the Ambassador Hotel and the neighboring lakeside building is underway ahead of vertical construction. With sales now open through OLINPalmBeach.com, the next marker is whether OKO and Cain can put the first contracts on the books at the top price tiers before construction is far enough along to show buyers finished units.