Kolter Urban has closed $425.3 million in condo deals at its newly completed Selene Oceanfront Residences in Fort Lauderdale.
The developer finished the two-tower, 26-story, 194-unit condominium at 151 North Seabreeze Boulevard late last year and began closings in October, according to property records. So far, 168 deeds have recorded, totaling $425.3 million in sales.
Led by Bob Vail, Kolter Urban is the condo development division of Bobby Julien’s Delray Beach-based Kolter Group.
The project is just shy of a decade in the making.
Kolter started acquiring the 2.6-acre site for the project in 2017, spending $34.4 million across several purchases. Kolter launched sales for the towers in 2021 and secured a $240 million construction loan from Wells Fargo in 2022. Designed by Kobi Karp Architects and interiors firm ID & Design International, the project was initially slated to finish in 2024.
Selene’s units range from two- to four-bedrooms that span between 2,300 and 5,300 square feet, according to a news release. The towers also have a few larger penthouse units. Amenities in the buildings include two pools, a fitness center, a business center, a theater, a gaming lounge and private dining space.
The most expensive closing in the towers so far was Beau Aero and Alfredo Martin’s $12.2 million purchase of the 5,300-square-foot unit S2701, records show. That sale amounted to $2,300 per square foot. Beau Aero Martin founded a workwear company based in Columbia, Missouri.
M. Michele Burns, the former CEO of Mercer and a member of the Goldman Sachs Board of Directors, bought unit S2702 for $10.7 million, according to property records.
Twenty-two units remain to be sold, priced between $2.7 million and $11.7 million, a spokesperson confirmed.
Selene is one of the latest completed projects in a packed pipeline of Broward County residential developments.
Long passed over by developers for the glitzier markets in Miami-Dade and Palm Beach County, as the region has boomed post-pandemic, developers have turned their gaze to Fort Lauderdale and Pompano Beach. At least two dozen projects totaling more than 3,900 units are in the works, led by some of South Florida’s biggest names: Jorge Pérez, Edgardo Defortuna, Isaac Toledano and Miki Naftali, among others.
Julien is onto the next one in another market, though. Earlier this month, Kolter and Perko Development Partners launched sales for their planned Maison d’Or condos in West Palm Beach, with prices starting at $5.7 million.