“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
Bookended by billionaire buyers in Palm Beach and Miami, development pros in Broward County are leaning into what works in that market: high-quality waterfront and downtown condos that are (relative to its northern and southern neighbors) reasonably priced. The result is a fresh pipeline of new construction in Fort Lauderdale and Pompano Beach that appeals to buyers looking for a quiet — yet still luxurious — lifestyle. Let’s review some of the top recently-announced projects in this edition of “South Florida by the numbers.”
43
Number of stories in the two-tower Ombelle Fort Lauderdale project, one of the largest planned new developments with 775 units. Developed by Dependable Equities, Ombelle will be at 300 Northeast Third Avenue, near the Flagler Village neighborhood. Units will range from 465-square-foot studios to three-bedroom condos of about 2,600 square feet, with prices ranging from the $400,000s to about $5 million. [TheReal Deal]
373
Number of units planned at W Pompano Beach Hotel & Residences, to be developed by BH Group and Related Group, to be managed by Marriott’s W Hotels. The 24-story project will offer a mix of studio, one-, two- and four-bedroom suites ranging from 580 square feet to 3,400 square feet, along with three penthouses featuring private rooftops. Prices start at $775,000 for the smallest units and $3.1 million for larger units. [TheRealDeal]
6
Number of penthouses at Salato Residences in Pompano Beach, a 10-story, 40-unit project to be developed by U.S. Development at 305 Briny Avenue. Salato will feature 20,000 square feet of amenities, including a pool, fitness center, spa facilities and an event space with a catering kitchen. Prices for the units start at $2 million, with unit sizes ranging from 2,100 square feet to 3,400 square feet, each with three bedrooms, three bathrooms and one half-bathroom. [TheRealDeal]
1957
Year in which the current building at 900 Intracoastal Drive in Fort Lauderdale was built, to be torn down and replaced by Sage Intracoastal Residences, marking the first Fort Lauderdale condo tower to be developed by New York and Miami-based PMG. Sage will include 44 units in 18 stories, with prices starting at $3 million. In an increasingly common trend within South Florida real estate (in the wake of the Champlain Towers South collapse and subsequent condo safety legislation), the developer signed a purchase and sale agreement with the original building’s co-op last summer. [TheRealDeal]
30,000
Square feet of amenities to be included at the Naftali Group’s Viceroy-branded luxury condo tower in Fort Lauderdale, including two pools, spa and fitness facilities, coworking spaces, a game room, karaoke room, kids’ room and a lounge with a full bar. The 45-story tower will have 370 units on a nearly 1-acre site at 201 North Federal Highway, with prices starting at $520,000. Arquitectonica will design the tower, and New York City-based Rockwell Group will lead interior design. [TheRealDeal]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.