Fort Lauderdale’s New and Pre-Construction Condo Update: October 2022

Fort Lauderdale’s New and Pre-Construction Condo Update: October 2022

Nov 16, 2022 November 16, 2022

Boosted by an influx of wealthy residents from high-tax states and new businesses, South Florida continues to stay a destination and hotbed for construction activity. Attracted by golden beaches, year-round warmth, and a yachting lifestyle, the waterfront housing market is still expected to grow. So, even as the luxury condo market took a seasonal break from recording new sales highs this past quarter, developers here have continued announcing new projects to appeal to sophisticated dwellers from across the globe. 

This October, Fort Lauderdale got busy. We had two ultra-luxury projects launch sales - The Residences at Pier Sixty-Six & the Edition Residences Fort Lauderdale Beach. The Related Group and New York-based New Leaf Development proposed two new condo projects in Fort Lauderdale. And, Ocean Land Investments re-launched its rental apartment tower called Sixth & Rio as a condo development. 

Read below to find details on these and other projects in our monthly condo pre-construction market roundup for Fort Lauderdale this October 2022:


October 2022 – Fort Lauderdale Condo Pre-Construction Market at a Glance



Sales Launched

  • The Residences at Pier Sixty-Six – Fort Lauderdale
  • Edition Residences Fort Lauderdale – Fort Lauderdale

Planned/Proposed

  • Sixth & Rio – Fort Lauderdale
  • Muse Tower – Fort Lauderdale
  • Las Olas Condo – Fort Lauderdale

Watchlist

  • OKO Group and Cain International’s $147M Purchase – Palm Beach
  • Alta Developer’s $21M Shovel-ready Purchase – Fort Lauderdale


October 2022 – Fort Lauderdale Pre-Construction Condo Market - Sales Launched



The Residences at Pier Sixty-Six – Fort Lauderdale

Groundbreaking – Fall 2021 | Completion – Early 2024

The Residences at Pier Sixty-Six – Fort Lauderdale

As expected, Tavistock Development Co. launched sales for its most luxurious project in one of East Coast's premier yachting destinations this October. Designed by West Palm Beach-based Garcia Stromberg, renovations and construction are already underway at the historic and reimagined Pier Sixty-Six hotel and marina as well as its two, 11-story condo buildings plus two 4-story villa buildings.

Affording a unique combination of history and amenities, residences at this waterfront project will be delivered designer-ready. Offering a total of 93 units, its two condo towers will feature 31 boutique condos each along with 31 boutique villas in the shorter waterfront buildings. Besides absolute owner customization and fine finishes, each of the residences will feature its own private pool.

Residents will further enjoy direct access to the marina, a promenade with shops and restaurants, a private restaurant and lounge in The Club Room, a dynamic multi-level pool experience, a lavish spa, a Technogym-powered fitness center, a kids’ club, a family entertainment lounge, 42,000 square feet of meeting and event spaces, and much more.

Prices start at $3 million, with a choice of 2 to 4-bedroom residences. 

Edition Residences Fort Lauderdale – Fort Lauderdale

Groundbreaking – Early 2023 | Completion – Early 2026

Edition Residences Fort Lauderdale – Fort Lauderdale

Soon after launching their first-ever stand-alone Edition Residences in Miami’s Edgewater neighborhood, Marriott International’s EDITION Hotels launched sales for their very first condo offering in Fort Lauderdale this October. Co-developer Rishi Kapoor’s Location Ventures had first filed plans for the 1.5-acre site at 551 Bayshore Drive in early 2021.

The waterfront Edition Residences Fort Lauderdale will feature two, jewel-box-like, 11-story condo towers designed by West Palm Beach-based GS4 Studios/Garcia Stromberg. Meticulously uniting modern sophistication with cultural artistry, the towers will feature only 65 waterfront residences.

With interiors designed by the internationally-recognized Clodagh Design, each unit will be delivered fully finished with the option to purchase furniture packages. All amenities and hospitality services in the condo buildings, such as dining and entertainment, will be managed by Edition Hotels. 

Built for utmost privacy, Fort Lauderdale’s first Edition-branded towers will allow annual leases only and no short-term rentals. Featuring more than 20,000 square feet of outdoor amenities, residents will gain access to two pools, including an oversized resort-style pool with private cabanas, a residents-only poolside restaurant, a moonroof and sunroof with Zen gardens, an outdoor movie screen, a health and wellness center, plus an eat-in lounge with gourmet kitchen. There will also be lushly landscaped pathways leading to an outdoor meditation walkway and an Intracoastal riverwalk with temporary boat dockage.

Prices range from $3 million to $7.5 million, with a choice of 2- to 4-bedroom residences. The four penthouses are priced at $10 million onwards.


October 2022 – Fort Lauderdale Pre-Construction Condo Market - Planned/Proposed



Sixth & Rio – Fort Lauderdale’s Rio Vista

Groundbreaking – Q3 2023 | Completion – Summer 2025 

Sixth & Rio – Fort Lauderdale’s Rio Vista

Following in the successful footsteps of The Elser Hotel and Residences in Miami, Sixth & Rio – originally a rental apartment tower – will be re-launched as a condo project. The development firm behind the meticulous “Aqua” series of condos, Ocean Land Investments, decided to make the switch owing to rising construction costs following Hurricane Ian.

Launching sales soon, Sixth & Rio will rise 9 stories with 94 luxury condos along the south bank of New River at 501 SE Sixth Avenue. The boutique residential building will mark the first new condo project in over a decade for the Rio Vista neighborhood. The waterfront development was previously called Aviva on the River.

Owners at this waterfront community will be restricted to rentals of at least 3 months, which means short-term rentals won’t be allowed. Amenities at this boutique tower will include a rooftop swimming pool and cabanas, a fitness center, a cafe/restaurant, and co-working space.

Prices expected to start in the $900,000s and go up to more than $2 million, with a choice of 1- to 3-bedroom residences and four penthouses.


Muse Tower – Fort Lauderdale

Muse Tower – Fort Lauderdale

Submitting plans to the city’s Development Review Committee this October, New York-based New Leaf Development proposed a 30-story condo tower just north of downtown Fort Lauderdale. The proposed Muse Tower is expected to feature an exoskeleton design, similar to the late Zaha Hadid’s One Thousand Museum Park in Miami, and appeal to future residents with large floor plans and extra-large balconies.

Designed by New York’s INOA Architecture in association with R-Method in Deerfield Beach, the tower is expected to house 112 condos, an 854-square-foot art gallery on its ground floor, a 4th-floor amenity deck with two pools, and 137 parking spaces in a mechanical garage with car elevators. The condo tower is expected to feature a mix of 2 one-bedroom units with lofts, 6 two-bedroom units with lofts, 52 two-bedroom units, and 52 three-bedroom residences. 

Currently home to two small apartment buildings, the combined 0.43-acre site at 408 and 416 N.E. First Ave. was acquired by developer New Leaf Development in 2021 for a total of $4.05 million in 2021.


Las Olas Condo – Fort Lauderdale

Las Olas Condo – Fort Lauderdale

After almost a 15-year hiatus spent building apartment towers in Fort Lauderdale, the Related Group made a comeback with its proposal for a 45-story condo at 529 and 521 E. Las Olas Blvd. Affiliates of the Group assembled the 0.65-acre site for a combined $11.25 million in 2020. Plans for the condo project are currently under review by the city’s Development Review Committee.

Designed by Cohen Freedman Encinosa & Associates Architects in Miami Lakes along with the Italian automotive and architecture company Pininfarina, the building will complement Fort Lauderdale’s nautical history while standing out from its surrounding structures. The entire building will prominently feature curvilinear glass along with full wraparound balconies with rounded edges that flow in a wave-like appearance, instead of the standard staggered balconies. 

Named Las Olas Condo, for now, the project is expected to feature 192 units, a 3,684-square-foot restaurant, and 354 parking spaces. Most of the amenities would be housed on the 10th and 11th floors. Expected amenities include a roof deck with two pools and a pool bar, another pool, a fitness center, a spa, an outdoor kitchen, a loggia, an outdoor lounge, fire pits, a kid’s room, a game room, a club room, a card room, a library, and co-working space.
 


October 2022 – Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Watchlist



OKO Group and Cain International’s $147M Purchase – Palm Beach

Ambassador Hotel & Residences - West Palm

Partnering to purchase two aging co-op buildings, the OKO Group and Cain International closed on the Ambassador Hotel & Residences plus Edgewater House for a combined $146.6 million. The deal gives this developer duo access to two prime waterfront sites in one of the most expensive residential real estate markets in South Florida with tremendous redevelopment potential along the beachfront.

OKO and Cain purchased The Ambassador Palm Beach Hotel & Residences for $87.7 million and the Edgewater House for another $48.6 million. The buildings sit across the street from one another - one along the oceanfront and another on the Intracoastal. The duo now has ownership of all 97 units of the oceanfront Ambassador Hotel located at 2730 South Ocean Boulevard as well as the 36 units of the Edgewater House at 2720 South Ocean Boulevard. While the hotel was built in 1963, Edgewater House was built in 1967.

Even as the duo claims that they will continue to operate the hotel as normal, we’re keeping this deal on our watchlist since the co-developers have given Miami two of its most iconic waterfront developments in recent times - Edgewater’s Missoni Baia and Brickell’s Una Residences.


Alta Developer’s $21M Shovel-ready Purchase – Fort Lauderdale

Pre-approved to carry a 35-story project, Miami-based Alta Developers closed on the nearly 1-acre site at 608, 612 and 614 S.W. Flagler Ave. plus 100 S.W. Sixth St. and 609 S.W. First Ave. for $20.75 million. The prime parcel sits south of the New River and within walking distance of Downtown Riverwalk Park.

Previously owned by New River Property Owner LLC, managed by Alessandro Pallaoro of New York-based Bizzi & Partners, the shovel-ready site is already approved to carry 400 apartments, 4,198 square feet of retail, and a 463-space parking garage. We’ll be keeping a close watch on this deal since developers have been converting their rental projects into condo developments owing to an increase in demand for luxury housing by wealthy out-of-towners and empty-nesters looking to downsize.

Ready to invest or move into a brand-new luxury condo in or around Fort Lauderdale? Call, chat, or email us to have a local, pre-construction condo expert guide you to your desired property.
 

ARE WE FRIENDS ON SOCIAL MEDIA?
📣 Connect with us on Instagram, TikTok and Youtube📣


Love staying on top of pre-construction news in Fort Lauderdale and Miami? Subscribe to this blog or 
our YouTube channel for monthly updates!

Contact Us
Sep Niakan
Broker / Team Lead
(305) 697-7667
sep@blackbookproperties.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Miami Events for February 2023: Valentine’s Day, Miami International Boat Show, Coconut Grove Arts Festival, Art Wynwood, South Beach Wine & Food Festival & More
Lifestyle Miami Events for February 2023: Valentine’s Day, Miami International Boat Show, Coconut Grove Arts Festival, Art Wynwood, South Beach Wine & Food Festival & More
It's that time of year again when love is in the air and it's the perfect excuse to celebrate! Grab someone you love, get outside in this stunning winter weather and check out these fun things to do! This February, we have a full house of events with something for everyone.  The Miami International Boat Show, South Beach Wine & Food Festival, GroundUp Music Fest, plus Coconut Grove Art Festival will be back creating waves and making February in Miami so beautiful. Stick to your resolutions with our pick of yoga and fitness events. Enjoy art and art-making at the Deering as well as Fairchild Gardens. Get some Broadway in Miami with Wicked plus Beauty and The Beast at the Arsht Center. There are also plenty of outdoor events to choose from to make the most of our crisp February breeze. Cover art @memersweets courtesy of the Museum of Graffiti Read on for a complete list of Top Things to Do in Miami this February 2023: Things to Do in Miami - February 2023 Events at a...
Video: Why Choose South of Fifth: One of Miami’s Most Exclusive Areas
Real Estate News Video: Why Choose South of Fifth: One of Miami’s Most Exclusive Areas
Looking for incredible beaches, a sophisticated seaside lifestyle, exclusive nightlife and dining, and some of the most luxurious condos? Then check out South of Fifth, popularly known as SoFi - one of Miami and Miami Beach’s most sought-after neighborhoods, where laid-back meets luxury. South of Fifth is known for being an exclusive pocket-sized neighborhood that sits on the southernmost tip of South Beach, and is surrounded by water on three sides - the Atlantic Ocean, Government Cut, and Biscayne Bay. There is a reason this quintessential neighborhood often attracts international residents who are of high net worth. It is home to boutique wellness offerings, luxury fitness options, upscale and essential shopping, some of the most worldly fine dining options, lots of nature, and all within in a walkable, neighborhood feel. Watch this video for a closer look at this quiet, beachside neighborhood and why it could make the ideal home for you:   Where is the South Of Fifth...
Q4 2022 Miami Luxury Condo Housing Market Snapshot: Market Stable Amidst National Cooldown
Market Reports Q4 2022 Miami Luxury Condo Housing Market Snapshot: Market Stable Amidst National Cooldown
2021 may have been a year of record highs for Miami’s luxury housing market, but 2022, turns out, almost broke records as well. Yes, the last quarter of year saw Miami’s luxury condo sales slowing, but prices remained steady or increased. 2022 closed as a year of balance and stabilization for Miami’s luxury condo market. After spending about 8 quarters in overdrive (starting Q3 2020), the market cooled down over the last two quarters of 2022, as predicted in our Q2 2022 + Q3 2022 summary reports. But, how should you be reading into this cool down? Is the market healthy or showing signs of distress? Is Miami’s luxury condo market headed towards a crisis like the national housing market or is there something more to the trend? While at first glance it might seem Miami’s luxury condo market fared badly with a 52.2% drop in year-over-year sales compared to Q4 2021 – it should be noted that 2021 was a year of exceptional highs and records. A closer look at quarterly charts from previous...
600 Miami Worldcenter: Downtown Miami’s Latest Luxury, Short-term Rental Condos
Preconstruction 600 Miami Worldcenter: Downtown Miami’s Latest Luxury, Short-term Rental Condos
It's lifestyle and investment-driven. It has absolutely no rental restrictions. It’s downtown Miami at your doorstep. It's 600 Miami WorldCenter.  600 Miami Worldcenter by Aria Development and Merrimac Ventures seeks to bring a fresh take on Downtown Miami living. Currently, this project hails as the only pre-construction project in this experimentally driven neighborhood allowing for short-term rental opportunities.  Envisioned to offer modern sophistication and functionality to residents and short-term guests, this lifestyle-driven condo project is the centerpiece of the development’s 27-acre master plan, featuring access to world-renowned, high-luxe retail, food, beverage, and entertainment spaces, plus the newly completed Brightline station, in the heart of Downtown Miami.  Prices at this exceptional space in the heart of Miami are starting in the $400,000s for studios and go up to $770,000 for 2 bedrooms. Completion is scheduled for 2026. 600 Miami Worldcenter: Downtown...
All of the Ritz-Carlton Residences in Miami, Miami Beach and More
Real Estate News All of the Ritz-Carlton Residences in Miami, Miami Beach and More
With a long history of luxurious, world-class amenities, and superior service, the Ritz-Carlton residences and brand of hotels is widely renowned. So if “Putting on the Ritz” is your ideal lifestyle, there are several Ritz-Carlton Residences to choose from, including two new recent projects in South Beach and Pompano Beach.  Here is our curated list of all the Ritz-Carlton Residences, including the pre-construction Ritz-Carlton Residences in Pompano Beach and the recently announced Ritz-Carlton Hotel & Residences in South Beach near Miami Beach, to be built as part of the renovation of the historic Sagamore Hotel. This article was first published on February 22, 2022. It was last updated on January 24, 2023. Grand Bay Ritz-Carlton Residences, Key Biscayne Located in the exclusive, laid-back island community of Key Biscayne, the Grand Bay Ritz-Carlton Residences is a mixed-use condo hotel, housing residential units, hotel suites, and onsite retail and commercial services,...
New Construction Miami Condos You Can Move into in 2023
Real Estate News New Construction Miami Condos You Can Move into in 2023
It’s no secret that Miami is in the middle of a major building boom and there are quite a few luxury condo buildings that you’ll be able to move into this year, 2023. So, if you love being the first to turn the key on your crisp, new luxury condo, keep reading. (Psst, we also have a bonus list of all the condos you can expect to move into in 2024 at the end!)  With about 52 new pre-construction condos (and counting) in the pipeline since 2021, Miami developers have been on the fast track to deliver on the growing demand for luxury condos in the Magic City, especially condos on the water or condo buildings with water views. When most of the global housing market was showing signs of a slowdown in the thick of the pandemic, Miami’s luxury condo market witnessed accelerated growth. Following the business migration trends that started somewhere around 2020, Miami has had a huge influx of wealthy families, C-suite executives, and other well-paid employees moving base to our tax-friendly...