In the news release, 4TRO Development and Kastelo Development Unveil New Boutique Townhome Project in Delray Beach, issued 10-Jun-2025 by Douglas Elliman over PR Newswire, we are advised by the company that the headline should read "Kastelo Development and 4TRO Development..." and in the 2nd paragraph should read "Jerad Graham of Kastelo Developmen" rather than originally issued. The complete, corrected release follows:

Kastelo Development and 4TRO Development Unveil New Boutique Townhome Project in Delray Beach

Eight Exclusive Townhomes Feature Private Elevators and Elevated Cocktail Pools, One Block from Atlantic Avenue

DELRAY BEACH, Fla., June 10, 2025 /PRNewswire/ -- Renowned property development groups, 4TRO Development and Kastelo Development, today launch Casa Avenida, an exclusive, four-story townhome community in the heart of Delray Beach. Located at 102 SE 5^th Avenue, this boutique collection of just eight private residences, ranging from 2,804 to 3,336 square feet, introduces a new level of refined living in one of South Florida's most dynamic coastal destinations. Blending modern architecture with contemporary design, Casa Avenida boasts top-of-the-line finishes and amenities, from private elevators to secure garages and an elevated cocktail pool. Pricing is anticipated to begin around $3 million, with completion expected in the second quarter of 2027. The upscale townhomes are exclusively sold by TJ Verdiglione and Nicole Melveney of the GVC Real Estate Team at Douglas Elliman.

"We envisioned Casa Avenida as an exclusive Atlantic Avenue retreat where residents emerge from their private sanctuary to enjoy the vibrant lifestyle of Delray Beach just steps from their front door," says Jerad Graham of Kastelo Development. "Delray has discerning buyers and we wanted to provide a unique and exclusive experience for a level of luxury that isn't available in other townhouse-style projects downtown."

At Casa Avenida, every four-story townhome is thoughtfully crafted by RWB-Linares Architecture to reflect Delray's timeless coastal charm, incorporating clean lines and elegant details that honor the city's heritage. Interiors are a collaboration between Stef Leonel Interior Design and Ava Gray Interiors, combining Brazilian-inspired warmth with curated elegance. The result is a series of open, light-filled homes with high ceilings, expansive windows, and seamless indoor-outdoor flow. Each residence includes a private elevator, two-car garages and two private terraces—one on the second floor and another on the fourth floor. The second-floor terrace boasts an elevated cocktail pool and the fourth-floor terrace has an outdoor kitchen as well as a balcony adjacent to an air-conditioned bonus room perfect for entertaining or a peaceful retreat.

"From day one, our architectural and interior design teams collaborated seamlessly, ensuring that every element of Casa Avenida embodies Delray's signature indoor-outdoor lifestyle—where living spaces flow effortlessly into the landscape," says Stef Leonel. "By incorporating abundant natural light, lush greenery on private, elevated outdoor spaces, and premium finishes throughout, we've created a home that feels both perfectly integrated with its surroundings and truly refined for comfortable daily living."

Casa Avenida's prime location places residents just a short walk away from all that Delray Beach has to offer. Known as Florida's Village by the Sea, Delray pairs small-town charm with big-city energy. The neighborhood is highly walkable, with Atlantic Avenue's renowned restaurants, art galleries, and shopping just steps away. From morning coffee at a nearby café to sunset walks on the beach, this enclave offers the ideal balance of convenience, culture and coastal lifestyle.

For more information on Casa Avenida, please visit www.casaavenidadelray.com or contact TJ Verdiglione at 561-730-2508 or Thomas.verdiglione@elliman.com.

About 4TRO

4TRO is a real estate investment and development firm focused on multifamily, residential, industrial and mixed-use opportunities in the United States. 4TRO Development and Capital is an extension of Produgesa, a branch of the family-owned Grupo Geo with over 30 years of experience in industrial, residential, and commercial developments and investments in Central America. Expanding into the U.S. market, 4TRO brings this expertise to Florida, focusing on developments and strategic investments. They leverage their extensive experience to create exceptional properties and make informed investment decisions that drive value for their investors and positively impact the communities they serve. For more information, visit www.4tro.us.

About Kastelo Development

Kastelo Development is a real estate investment and development firm with experience building over $600 million in residential and mixed-use projects. The firm now focuses on Florida townhomes in high-growth, supply-constrained markets. Kastelo operates with an investor-first mindset, structuring each project around capital alignment, repeatable relationships, and long-term trust. The firm is committed to delivering durable value and protecting investor capital through high quality site selection, design, and transparent execution. For more information, visit www.kastelodevelopment.com.

About Douglas Elliman Inc.

Douglas Elliman Inc. (NYSE:DOUG, ", Douglas Elliman", )) owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York, Florida, California, Texas, Colorado, Nevada, Massachusetts, Connecticut, Maryland, Virginia and Washington, D.C. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Additional information concerning Douglas Elliman Realty is available on its website, www.elliman.com.

Investors and others should note that we may post information about Douglas Elliman Inc. on our website at investors.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at investors.elliman.com and on our social media accounts.

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SOURCE Douglas Elliman

/C O R R E C T I O N -- Douglas Elliman/