On the scene at Gale Residences Fort Lauderdale’s broker celebration: PHOTOS

Project's 129 units are now 75 percent sold

TRD MIAMI /
Nov.November 10, 2016 05:15 PM

To commemorate its luxury Gale Residences Fort Lauderdale condo project going vertical, Harvey Hernandez’s Newgard Development Group recently hosted a private soiree at the bayfront construction site.

More than 125 brokers, their well-heeled clients and even a pair of commissioners came to check out the 12-story condo tower’s progress two months after it broke ground. The fête was catered with cocktails and hors d’oeuvres, and pop violinist Timothee Lovelock performed for the crowd.

Construction workers recently poured the first floor of the 129-unit Gale at 401 Bayshore Drive, with the expected opening now slated for early 2018. Newgard is financing construction with a $36 million loan from HALL Structured Finance, a private lender based in Dallas, Texas.

Units at the building range in size from 800 square feet to 2,100 square feet, with prices starting in the mid $500,000s. Newgard is also renovating the historic Escape Hotel in Fort Lauderdale into a 96-room Gale hotel, which will be managed by Menin Hospitality when it opens. Dev Motwani’s Merrimac Ventures is a partner in the development.

The developer said 75 percent of the Gale’s units have so far been sold. Amenities include a lounge deck on the eighth floor, swimming pool, private theater and a gym. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Harvey Hernandez, Centro Condo

Harvey Hernandez sued over delinquent loan for downtown Miami condo project

Harvey Hernandez sued over delinquent loan for downtown Miami condo project
Dev Motwani, Johnny Allison, and 2401 West Broward Boulevard (Credit: Google Maps)

Dev Motwani nabs loan for Fort Lauderdale project

Dev Motwani nabs loan for Fort Lauderdale project
Harvey Hernandez (Credit: Airbnb and iStock)

Harvey Hernandez fights back against Airbnb

Harvey Hernandez fights back against Airbnb
Harvey Hernandez and Michael Patrizio

Newgard hires Terra exec as SVP of development

Newgard hires Terra exec as SVP of development
Rendering of Bodega Taqueria y Tequila, Keith Menin and Jared Galbut

Menin Hospitality’s Bodega is expanding to Fort Lauderdale

Menin Hospitality’s Bodega is expanding to Fort Lauderdale
Jared Galbut and Keith Menin are majority owners of Bodega Taqueria y Tequila  

Holy guacamole: Jared Galbut and Keith Menin sued over South Beach taco bar and nearby pizzeria

Holy guacamole: Jared Galbut and Keith Menin sued over South Beach taco bar and nearby pizzeria
Brickell House and Harvey Hernandez

Brickell House condo association scores $41M over failed parking garage

Brickell House condo association scores $41M over failed parking garage
Daily Digest Miami

Keith Menin snags a home on North Bay Road, Brickell Flatiron commercial space buyer seeks court-ordered discount: Daily digest

Keith Menin snags a home on North Bay Road, Brickell Flatiron commercial space buyer seeks court-ordered discount: Daily digest
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...