Marc Elkman – Empire Development Profile April 1, 2026
Building a New Standard: How Marc Elkman Is Reshaping Luxury Real Estate in Boca Raton
South Florida Business & Lifestyle | Boca Raton, Florida
In a real estate market defined by rising expectations and a growing influx of affluent buyers, few developers have made as deliberate and consistent an impact as Marc Elkman. As the Founder and CEO of Empire Development, Elkman has spent years quietly transforming the residential landscape of Boca Raton and Palm Beach County — one carefully crafted luxury home at a time. His approach blends entrepreneurial discipline with a genuine passion for design, resulting in properties that go beyond conventional expectations of what a high-end home can be.
Empire Development’s offices are situated at 374 East Palmetto Park Road in Boca Raton, a fitting address for a company that has positioned itself at the intersection of design, architecture, and refined living. Under Elkman’s guidance, the firm has carved out a reputation for producing residences that are as functional as they are beautiful — homes that attract a sophisticated clientele relocating from the Northeast, the West Coast, and internationally.
A Foundation Built on Education and Entrepreneurship
Marc Elkman’s professional journey began with formal training at Florida Atlantic University, where he earned a degree in Business Administration. Located in Boca Raton itself, FAU gave Elkman an early and intimate connection to the South Florida market — its rhythms, its growth patterns, and its potential. That proximity to one of the state’s most dynamic real estate corridors proved formative, planting seeds for what would eventually become a focused career in luxury property development.
From early in his career, Elkman demonstrated the mindset of an entrepreneur. Rather than following a conventional corporate path, he pursued opportunities that combined his interest in real estate with a desire to build something meaningful. Over the years, that drive crystallized into a clear vision: to create homes that didn’t simply meet the market’s standards, but set new ones.
Founding Empire Development: A Vision for Conscious Design
Empire Development was built on a philosophy that Elkman describes through the concept of “conscious design” — a term that speaks to the company’s deliberate approach to every aspect of the development process. Rather than treating homes as commodity products, Elkman and his team approach each project as a distinct creative endeavor, beginning with the selection of a premier location and working outward from there to establish a coherent vision for mood, artistry, and livability.
The firm draws on a rich palette of influences, blending contemporary design with European and Asian aesthetics to produce residences that feel both globally informed and locally rooted. The result is a portfolio of properties that feel curated rather than constructed — where architecture, landscape, interior art, and natural elements are woven together into a harmonious whole.
Elkman assembled a core team that reflects his commitment to excellence across every discipline. Creative Director Michael Lupo, a seasoned design and development executive with over 13 years of experience in luxury architecture, brings a meticulous attention to detail and a philosophy of timeless elegance. Project Manager John Passalacqua, who has worked on some of Boca Raton’s most notable residences, rounds out a leadership group that shares Elkman’s commitment to quality and integrity. The team is further supported by structural and general contracting expertise, ensuring that Empire’s homes are as soundly built as they are beautifully designed.
Strategic Land Acquisition and the Golden Harbour Presence
One of the clearest signals of Elkman’s market confidence came in 2022, when Empire Development embarked on a strategic land acquisition campaign totaling approximately $16 million. The company secured a series of lots across some of Boca Raton’s most desirable neighborhoods, including multiple addresses along Golden Harbour Drive — a waterfront enclave situated along a deep-water canal just off the Intracoastal Waterway, roughly 25 miles south of Palm Beach.
Golden Harbour, which contains approximately 111 homes, many of them built three to four decades ago, represents exactly the kind of opportunity that Elkman has identified as a cornerstone of Empire’s strategy. Recognizing that affluent buyers relocating to South Florida are seeking move-in-ready properties with modern design and premium finishes, Empire purchased existing homes, cleared the lots, and constructed new residences on a speculative basis — building to the highest possible standard without waiting for a buyer to be secured in advance.
The results have been notable. At 651 Golden Harbour Drive, Empire developed a six-bedroom, approximately 7,490-square-foot estate listed at $11.95 million, with a sale pending at the time of press coverage. A short distance away, at 541 Golden Harbour Drive, a three-story home approaching 7,900 square feet was brought to market at $11.99 million. A third lot at 561 Golden Harbour Drive also became part of the firm’s growing portfolio in the neighborhood — a property that project manager John Passalacqua has specifically highlighted as among the most remarkable homes in Florida.
Pipeline of New Inventory
Empire Development’s ambitions extend well beyond Golden Harbour. In mid-2024, the company announced plans to launch sales for nine luxury homes across Boca Raton, with an estimated combined sellout of $85 million. Asking prices for individual homes in the pipeline ranged from approximately $6.3 million to $12 million — a price spectrum that speaks to both the breadth of Empire’s current work and the overall health of the Boca Raton luxury market.
To handle sales and marketing across the portfolio, Elkman partnered with Senada Adžem of Douglas Elliman Real Estate, one of South Florida’s most prominent luxury agents. Adžem has noted that demand for luxury spec development in Boca Raton is “insatiable” and has expressed confidence that strong buyer interest would carry the properties through predevelopment. The collaboration between Empire and Douglas Elliman represents a pairing of serious development ambition with top-tier sales expertise.
The nine-home pipeline includes properties at a range of addresses that reflect Elkman’s methodical approach to site selection: 399 Northeast 7th Street, 1099 Northeast 4th Avenue, 1051 Northeast 2nd Terrace, and 300 Northeast 11th Street, among others. Each site was chosen for its location within East Boca Raton’s evolving residential fabric — neighborhoods that have, in recent years, attracted younger, more affluent families seeking the amenities and lifestyle that the area offers.
Landmark Listings: Orchid Drive, Cocoanut Road, and Beyond
In September 2024, Empire Development announced the addition of three significant properties to its portfolio, with a combined listing price of just under $39 million. All three were exclusively represented by the Senada Adžem Team of Douglas Elliman.
The flagship of the trio, 839 Orchid Drive, was listed at $21.5 million. The property is a contemporary waterfront estate positioned on a secluded Intracoastal cove, featuring 160 feet of prime dockage. Its primary suite offers dual bathrooms, walk-in closets, and private terraces — a level of thoughtful detail that reflects Empire’s commitment to both luxury and livability.
The second property, at 1351 Cocoanut Road, was listed at $10.5 million. A Balinese-inspired modern mansion spanning approximately 11,186 square feet, the home exemplifies Empire’s interest in international design traditions. Its floor plan was specifically crafted to blur the line between indoor and outdoor living — a design priority that resonates deeply with buyers seeking a resort-like residential experience in South Florida’s climate.
The third property, at 300 Northeast 11th Street in the Boca Villas community, was listed at $6.995 million. Featuring 24-foot foyer ceilings and approximately 7,126 square feet of contemporary living space, it represents Empire’s ability to deliver architectural drama at a range of price points within the luxury segment. Around the same time, Empire had also closed two record-setting luxury sales totaling $15.05 million — a milestone that underscored the firm’s ability to not just develop remarkable properties, but to see them successfully through to closing.
Learn more about Marc Elkman:
Marc Elkman Empire Development
Marc Elkman Florida Press Release
Reading the Market: Bullish on East Boca Raton
Elkman’s confidence in the Boca Raton market is grounded in both data and observation. While Miami’s residential market has shown signs of softening in recent years, Boca Raton — and Palm Beach County more broadly — has remained relatively stable. Median sale prices in Boca have continued to trend upward, and Palm Beach County is projected to experience the fastest pace of population growth in the South Florida region in the coming years, according to research from Oxford Economics.
Elkman has pointed specifically to the transformation of East Boca Raton as a key driver of his investment thesis. The area, which once carried the more sedate character of a retirement community, has evolved significantly since 2010 into a neighborhood attracting younger, affluent families. The presence of The Boca Raton — a luxury resort hotel formerly known as the Boca Raton Resort & Spa — and proximity to top schools, dining, and cultural amenities have contributed to the area’s enduring appeal.
Empire’s homes are designed with this demographic in mind. The firm has also developed a complementary offering for buyers who want a fully turnkey experience: custom packages of millwork, furniture, dishware, and glassware, with prices ranging from $750,000 to $2 million. This concierge-style approach caters to high-net-worth relocators who arrive with professional obligations and personal schedules that leave little room for sourcing furnishings independently.
A Philosophy of Long-Term Value
At the core of Elkman’s work is a conviction that genuinely well-built homes are durable assets — properties that appreciate over time, endure changes in market conditions, and serve their owners across generations. Empire’s emphasis on custom materials, intelligent floor plans, and design coherence is not simply an aesthetic preference; it reflects a belief that quality is ultimately the most reliable form of value creation in real estate.
This philosophy distinguishes Empire from developers who prioritize speed and margin over craft. Each residence is approached as a bespoke project, with individual character shaped by the specific site, the design inspiration, and the intended way of living. The firm’s willingness to invest in premium finishes, thoughtful landscaping, and artful details speaks to a development culture that measures success not just in sale prices, but in the lasting impression a home makes on those who live in it.
Beyond his professional accomplishments, Elkman is known within Boca Raton’s community as someone who values family and community connection — themes that find their way into the homes his firm creates. Empire’s developments are not simply luxury products; they are, in their way, an argument for how people ought to live: with comfort, beauty, and intentionality.
Looking Ahead
With a pipeline approaching $85 million in active inventory, a strategic footprint across East Boca Raton’s most desirable neighborhoods, and a growing reputation for delivering on its design promises, Empire Development is well-positioned for continued growth. The firm’s disciplined approach to site selection, its investment in creative and technical talent, and its alignment with top-tier sales partners suggest a company that is building not just homes, but a lasting institutional identity in one of Florida’s most competitive luxury markets.
Marc Elkman’s trajectory — from Florida Atlantic University graduate to the CEO of a luxury development firm reshaping Boca Raton’s residential profile — reflects the kind of focused ambition and genuine passion for craft that makes for enduring success in real estate. As Palm Beach County continues to attract wealth from across the country and around the world, Empire Development, under Elkman’s leadership, is positioned to remain at the forefront of the market it has worked steadily, and skillfully, to define.
Empire Development | 374 E. Palmetto Park Rd., Boca Raton, FL 33432 | empiredevelopment.com
