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US Development taps Elliman to sell Pompano Beach condos
Elliman partnering with IMI Worldwide to market the 40-unit Salato Residences
From left: Jay Parker and John Farina along with a rendering of 305 Briny Avenue (Getty, Salato, Douglas Elliman, U.S. Development)
U.S. Development is bringing in Douglas Elliman Development Marketing to beef up the sales team for its planned Salato Residences condominium in Pompano Beach.
Elliman is teaming up with IMI Worldwide to market the project, according to a press release. Philadelphia-based U.S. Development, led by CEO John Farina, launched sales of the 10-story, 40-unit project at 305 Briny Avenue in February. IMI Worldwide has handled sales for U.S. Development’s Salato as well as its other projects in South Florida, including the 14-unit 1625 Ocean and 19-unit Ocean Delray, according to IMI CEO Mike Collins.
Douglas Elliman’s Keriann Worley, Denver Bright and Vanessa Sidi will be marketing Salato alongside IMI.
IMI had already presold 25 percent of Salato’s units when its sales lead left for another firm, Collins said. That created an opening in the strategy for selling the project, and Collins called Elliman’s Florida CEO Jay Parker.
“Since [our salesman] was leaving it was a great opportunity for us to collaborate,” Collins said of teaming up with Elliman.
Prices for Salato’s condos, which all span three bedrooms, three bathrooms and one half-bathroom, start just below $2 million, the release shows. The building will include a 20,000-square-foot amenity deck, direct beach access and 100 feet of oceanfront.
Collins said many of Salato’s target buyers are people looking to move to Florida for tax purposes, or who want a secondary home in the Sunshine State.
“It’s a buyer not looking for Miami,” Collins said.
The project is targeting Northeasterners, but has also seen a lot of interest from Canadians, he said.
“Canada seems to be a really solid market for Pompano,” Collins said, noting IMI and Elliman are working with marketing partners based in Montreal and Toronto.
Canadians are one of the most significant international buyer groups in South Florida, agents say. They ranked among the top foreign nationalities for purchasing residential properties in the tri-county region this year, marking the only non-Latin nationality to do so.
Several luxury condo projects are in the pipeline in Pompano Beach. In September, Related Group and Merrimac Ventures submitted plans for a 28-story, 92-unit Waldorf-Astoria branded tower in the coastal city. That same month, Related landed a $158.9 million construction loan for its planned Casamar, a nearly presold out 118-unit luxury condominium. In September, the firm completed the 105-unit, 20-story Solemar, with more than 100 deeds recorded.