OceanLand boots Compass, taps OneWorld for Sixth&Rio condo sales

OceanLand Investments booted Compass from its planned Fort Lauderdale condominium, more than a year after launching sales.

The Fort Lauderdale-based developer, led by founder and CEO Jean-Francois Roy, brought in OneWorld Properties to take over marketing the 94-unit waterfront Sixth&Rio development, according to a press release. Roy first launched sales in the fall of 2022 with Compass. Roy initially planned the project at 501 Southeast Sixth Avenue as a rental building, but pivoted after construction costs were higher than anticipated.

Compass declined to comment on the change in sales teams. 

The project is currently 25 percent presold, according to OneWorld founder and CEO Peggy Olin. 

“We are hoping to get to the 50 percent threshold shortly,” she said. 

Floor plans at Sixth&Rio will include one-, two-, three- and four-bedroom options, and prices are still in the $900,000 to $2 million range, Olin confirmed. The building will have a fitness center, club room, co-working space, coffee and wine bar, and a rooftop pool with private cabanas, according to the release. Construction is expected to be completed in 2026, Olin said. Her firm is targeting buyers who are downsizing and Northeasterners looking for a second home, she said. 

“[These buyers] don’t necessarily need to have their larger homes,” she said. In relaunching sales for Sixth&Rio, Olin said her team is focused on promoting the project’s amenities and increasing awareness among the broker community, particularly in Miami-Dade County. 

“Some of the buyers coming into Fort Lauderdale are people getting priced out of Miami,” she said. 

Olin said she sees strength in the Fort Lauderdale market, pointing to Related Group’s planned 45-story, 163-unit Pninfarina-branded condominium that launched sales in October. Prices for the tower start at $1.6 million. Since that sales launch, Tavistock also launched sales of its planned luxury condo project, Indigo, at its Pier Sixty-Six megadevelopment. Prices for the 30 units start at $5.5 million. Tavistock’s billionaire founder Joe Lewis pleaded guilty to insider trading last month. 

Correction: A previous version of this story incorrectly stated the project’s number of units