The Real Deal Miami

Penthouse report: buyers sign contracts at Auberge, Paramount in Fort Lauderdale

One $1,628 psf unit beat Fort Lauderdale's previous price-per-square-foot record

May 12, 2016 04:35PM
By Sean Stewart-Muniz

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Renderings of Paramount Fort Lauderdale, left, and Auberge Beach Residences & Spa, right

Renderings of Paramount Fort Lauderdale Beach, left, and Auberge Beach Residences & Spa, right (Credit: ArX Solutions)

Fort Lauderdale might not boast the same kinds of mansion-sized condos typical of Miami’s bigger developments, but the city still has a number of new luxury towers coming out of the ground.

Check out details on some of the city’s most recent preconstruction penthouse sales below.

Rendering of an Auberge unit's balcony

Rendering of an Auberge unit’s balcony (Credit: ArX Solutions)

Auberge Beach Residences & Spa penthouse sells at record price per square foot

With a host of luxury condo projects sprouting up all over Miami, the Related Group expanded to greener pastures this cycle with its two-tower Auberge Fort Lauderdale project.

Now, the project appears to be making a name for itself in the city as Related said one of its units was just reserved at a record-breaking price per square foot.

The 4,300-square-foot penthouse, located in the southern tower, was reserved by a Boca Raton buyer for $7 million, a Related spokesperson told The Real Deal. That price breaks down to just under $1,628 per square foot, which beats the previous record of $1,556 per foot set last year at the Ritz-Carlton Fort Lauderdale.

It has four bedrooms, five-and-a-half bathrooms, 4,100 square feet of terraces and even its own private pool.

As Related’s Patrick Campbell told TRD in April, the developer is nearing 90 percent sold in Auberge’s north tower, with the south tower approaching 20 percent.

Construction began in November and unit deliveries are expected to start by end-year 2017.

Interior rendering of a Paramount penthouse

Interior rendering of a Paramount penthouse (Credit: ArX Solutions)

Two penthouses trade for combined $10M at Paramount Fort Lauderdale Beach

The developers behind Paramount Fort Lauderdale Beach announced that two of the project’s four penthouses are now reserved at a little over $4.5 million a piece.

The two-story penthouses are located on the 18-story Paramount’s top floors. Each has about 3,062 square feet of interior living space on the 18th floor, along with a rooftop section with 708 square feet of air conditioned space. The second levels have a summer kitchen, private plunge pool and a fire pit.

Interior finishes include designer European kitchens, rain showers in the bathrooms and high ceilings. Buyers also have the option to customize the penthouses, the developer said. Both buyers are from New York.

Sales at the tower have reached 80 percent, according to developer Dan Kodsi, with opening set in spring 2017. Construction began in December 2014.