Name, price ranges unveiled for ultra-luxe condo project in Palm Beach
The developers behind an ultra-luxury condominium development planned Palm Beach's South End have finally unveiled the name of the much-anticipated project to replace the empty Ambassador Hotel and a nearby lakeside building.
The condo has been named OLIN Palm Beach.
Units in the three yet-to-be-built midrise buildings are expected to set asking-price records for the island. No prices for specific condos are on the website, OLINPalmBeach.com, although it hints that some units may be priced at more than $40 million.
The development team already is pursuing potential buyers through the website, which provides limited details about the planned development at 2720 S. Ocean Blvd. and 2730 S. Ocean Blvd. People can fill out an online form to request more information about the property.
The online inquiry form separates the residences into price categories: "Up to $20 million," "Up to $30 million" and "Over $40 Million."
According to the site, the Corcoran Group is the exclusive sales and marketing brokerage for the residences.
The developers are Miami-based OKO Group - led by Vlad Doronin, whose Aman-branded resorts and hotels are known for their ultra-high-end amenities - and London-based private-equity firm Cain International. Their joint venture bought the property in October 2022 in three deals totaling $147.6 million. The condo project, which has been in the planning stages for about three years, is not affiliated with the Aman brand.
OLIN Palm Beach is the first South End condo development project to reach the building stage in the last 20 years. The last new development was Bellaria, completed in 2006.
If the price range detailed on the OLIN website indicates the planned sale price of units, the development is slated to offer the town's most expensive condo units on record. That record currently is held by New England Patriots owner Robert Kraft, who paid a record $23.75 million in 2022 for a beachfront penthouse unit at the Leverett House, 110 Sunset Ave. The top asking price for that apartment was $26.75 million when it was on the market.
A representative of OLIN Palm Beach was unavailable for comment.
The redevelopment project earned its remaining design-review approvals during a contentious June 24 Architectural Commission meeting. Those approvals were needed for construction to get under way.
The development will replace the old oceanfront Ambassador Hotel & Residences as well as an adjacent lakefront building with a trio of five-story buildings - two on the ocean side and one on the Intracoastal Waterway. Both sites will have underground parking garages.
The design architect for the project was Jason Long of OMA, an international architectural firm. The plans call for substantially fewer units than the previous 135 at the properties. OLIN's website mentions that 32 "graciously scaled" residential units are being offered for sale in the new development.
Early-stage demolition already has begun, although teams have yet to topple the former Ambassador building or the lakeside building, known for years as the Edgewater House. When that will occur has yet to be announced, Planning, Zoning and Building Department Assistant Director James Murphy said during a July 15 Town Council meeting.
Staging for that portion of the demolition has already begun, with multiple excavators and other heavy machinery already in place at both sites, he told the council. Also, the project has nearly completed all the reviews required for the tear-down, he told the council.
"Something significant is coming, in terms of the demolition," he said.
Town Hall staff will present to the council the scheduled demolition plans once those are firmed up and before significant action is taken at the site.
South End residents also will be notified of the major demolition project. The town requires property owners to send out notice of demolition to their neighbors two weeks before the action occurs, he told council.
Diego Diaz Lasa is a journalist at the Palm Beach Daily News, part of the USA TODAY Florida Network. You can reach him at dlasa@pbdailynews.com.
This article originally appeared on Palm Beach Daily News: Name, price ranges unveiled for ultra-luxe condo project in Palm Beach
Reporting by Diego Diaz Lasa, Palm Beach Daily News / Palm Beach Daily News
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This story was originally published July 17, 2026 at 5:12 AM.