Noam Ziv of Glass House Boca Raton: 5 Questions

Veteran developer Noam Ziv’s latest project in South Florida is a boutique condo project that includes the challenge of building an underground parking garage.

The 28-unit Glass House Boca Raton is at 280 East Palmetto Park Road in Boca Raton. Ziv was previously CEO of El-Ad National Properties, and led the development of the 303-unit Alina Residences Boca Raton.

The following conversation has been edited for length and clarity.

Commercial Observer: Glass House is under construction. How far along is the project?

Noam Ziv: We broke ground on the project this spring. It involves an underground garage, so for the first few weeks, we were just playing in the mud, so to speak. We expect to top off in mid-2026. We launched sales last year, and we’ve made quite a few sales. We have a few small units left at $2.1 to $2.2 million. The penthouses top out at $8 million.

We are offering the first 20 buyers a membership to the Boca Raton Resort. This is like a force multiplier for a smaller project. We have all the amenities – a rooftop pool, a fitness center. But if you want a larger scale of amenities, just across the street, we have the Boca Resort.

How difficult is it to build underground parking in South Florida?

There is the technology nowadays. It’s more expensive and it takes some time. By doing so, you’re probably adding to your construction schedule by four to five months. But you’re adding to your density above ground, so it’s worth it. 

If you do it above ground, you’re losing two floors of units and amenities. We have 63 parking spaces. Each residence comes with two assigned parking garages, plus you need spaces for guests and employees. The top floors come with enclosed garages inside the garage. We also have a bike storage room in addition to the garage.

The South Florida housing market has cooled. How is that affecting your sales?

The season was slow. Everybody was trying to get a better understanding of how the economy will look in the coming years and months. My prediction is things will start to stabilize after the big bang of the new administration taking office. My expectation is it’s going to be a stronger-than-usual summer as everyone gets more comfortable. People are back on the property hunt.

What’s your biggest challenge?

I see mostly opportunities, not challenges. We feel Downtown Boca is still a very strong market for high-end condos. There is not a lot of supply. There is a shortage of new development.

What’s your next project?

We are always on the hunt for additional development land. It’s getting very tight here in South Florida. It’s almost impossible to find vacant land; it’s mostly redevelopment opportunities. We are out in the market now with offers for a couple more potential projects. The goal is to have a couple projects going at any given time.

Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.