REVERE – The builder of the Ocean Club condominium project claims it broke a local condominium sales price record with a recent $3.25 million transaction.The multi-unit sale eclipses a similar $1.5 million sale for a condo in the Revere Beach Boulevard project in August. Ocean Club builder Fustolo Development claims the previous record for a condominium sale in Revere was set in 2004 for $750,000.Ocean Club Sales Manager Gary Ferragamo negotiated the most recent sale with a Newton resident.”This is another incredible feat for The Ocean Club,” said developer Steven C. Fustolo.”It reinforces what I have long believed, that Revere Beach is a hidden gem just waiting to be discovered. The renaissance of Revere Beach truly has begun and the rest of New England is being introduced to the beauty and potential of this unparalleled ocean side community.”Construction starts this month on Ocean Club’s 242 condominiums designed by nationally acclaimed Steffian Bradley Architects. More than 90 percent of the nine-acre development will offer exquisite oceanfront views.The Ocean Club will include amenity space featuring concierge service, indoor and outdoor pools and hot tubs, as well as a cardio and free-weight fitness center. Residents will also enjoy a private sitting and reading area, a lobby juice and coffee bar, and a private garden.Almost 100 of the development’s 242 residences have been sold to date, making it, according to Fustolo, the fastest selling oceanfront development in the Boston area.”The timing of the multi-unit sale couldn’t be better as The Ocean Club has started construction on the infrastructure of our development,” Fustolo said.The Burlington-based developer’s previous projects included building restorations in Boston’s North End, Back Bay and South End, as well as Cambridge. The firm also owns and manages residential and commercial real estate in the Boston area.
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