Engel & Völkers launches Pompano Beach office 

Engel & Völkers is opening its seventh South Florida office in Pompano Beach, The Real Deal has learned.

Frank Garcia and Marie Gonneville are moving into the office in suite 105 at 2401 East Atlantic Boulevard, according to a press release. Garcia is the owner of Engel & Völkers Fort Lauderdale and the satellite office for the Ocean Resort Residences at the Conrad Fort Lauderdale Beach, the release shows. Gonneville is a Canadian Engel & Völkers agent based in Montréal. Gonneville will provide a connection to Canadian clients, who are an increasingly significant demographic of international buyers in South Florida, particularly those coming from the greater Montréal and Toronto areas. 

The Pompano Beach office is actively recruiting agents, a spokesperson confirmed. 

Much like the rest of South Florida, Pompano Beach’s real estate market has boomed in the aftermath of Covid. An influx of luxury buyers driven by lower taxes and corporate relocations resulted in a spike in demand. The median sale price across asset types is $370,000, up from $235,000 in May 2020, Redfin data shows. 

Developers are betting big on Pompano Beach’s luxury market. Edgardo Defortuna’s Fortune International Group and Ricardo Dunin’s Oak Capital are planning the two-building, 205-unit Ritz-Carlton Residences, Pompano Beach. The developers landed a $259 million construction loan for the condos in December. U.S. Development launched sales for its planned 10-story, 40-unit Salato condominium in February. Related Group and Merrimac Ventures are also planning a Waldorf Astoria-branded condo project in Pompano Beach. 
Related is also developing its planned Casamar Pompano Beach condos, a 21-story, 118-unit oceanfront luxury project. The project’s sales gallery caught fire in April after a nearby transformer exploded.