The Real Deal Miami

Elliman takes over sales of Galleria Lofts

Engel & Völkers Fort Lauderdale previously handled sales
By Katherine Kallergis | December 19, 2017 12:30PM

Renderings of Galleria Lofts and Jay Parker (Credit: SobelCo)

Douglas Elliman just nabbed sales of another SobelCo development in Fort Lauderdale.

Elliman is taking over sales and marketing of Galleria Lofts, a 48-unit luxury townhome project at 1005 North Federal Highway, from Engel & Völkers Fort Lauderdale. About 22 of the units, or 46 percent, are sold, according to a spokesperson for the Boca Raton-based developer.

Elliman’s Gigi Giusti and Joanna Berg are handling sales. Some units have been completed, and the remaining townhouses will be delivered in February.

Earlier this month, the brokerage also took over sales and marketing at SobelCo’s 321 at Waters Edge, a boutique waterfront condo building.  It’s not uncommon for developers to replace their sales-and-marketing firm during a slowdown to inject fresh energy into a project.

Engel & Völkers Fort Lauderdale’s broker Giancarlo Cuffia said his office handled sales for 18 months, and resigned from Galleria Lofts and 321 at Waters Edge in November. “We have a great relationship with the developers, it’s just that it took longer than expected [to sell],” he said.

The two- and three-bedroom townhouses at Galleria Lofts range from 1,700 square feet to 2,400 square feet, and start at about $500,000, according to a press release. The project is located about half a mile away from Galleria Mall.

Property records show SobelCo paid $3.4 million for the development site in 2014 and broke ground about two years later.