Vertical Developments, GCF Development and WellDuo are launching sales for a planned luxury condominium in Fort Lauderdale branded by the Italian yacht maker Riva.
Prices for the 20-story, 36-unit Riva Residenze building planned for 3019 Harbor Drive start at $3.5 million, according to a press release. Fortune Development Sales is leading sales and marketing for the project.
Units will have two to and six bedrooms, ranging from 2,000 square feet to 4,000 square feet, the release shows. Two penthouses will span more than 8,000 square feet, each. Amenities in the building will include a fitness center, spa facilities, two pools, a library, theater, cigar room, wine room, and media room with a golf simulator, according to the release. The lobby will also have a Riva art gallery and indoor garden. Arquitectonica and yacht designer Giuseppina Arena are handling design for the project.
Fernando de Nuñez y Lugones’ Vertical, Chip Abele’s GCF and WellDuo, led by Eduardo Pelaez and Alvaro Cardenas, won approval for the development in January. The partners landed a conditional use permit for the building’s planned 240-foot height, which is double Fort Lauderdale’s usual maximum of 120 feet for buildings east of the Intracoastal Waterway.
The partners bought the 0.8-acre site for $8 million in 2022, property records show.
The pipeline for branded luxury condo projects has exploded in South Florida in recent years, spreading from the epicenter in Miami’s Brickell neighborhood all the way to West Palm Beach. What started with major hospitality names has expanded to include luxury car brands, fashion houses and culinary giants. In May, Vertical partnered with Urban Network Capital Group to launch an Elle magazine-branded condo tower in Miami’s Edgewater. Prices start at $525,000 for the 25-story, 180-unit tower. Earlier this month, David Martin’s Terra and Michael Simkins’ Lion Development Group announced a 48-story, 320-unit planned tower branded with French chef Jean-Georges Vongerichten.