160 Marina Bay Celebrates Groundbreaking in Fort Lauderdale After Completing Demolition

Developer Gold Krown has announced the groundbreaking of 160 Marina Bay, a five-story boutique condominium development located on Fort Lauderdale’s Intracoastal Waterway at 160 Isle of Venice Drive. The project will include 16 luxury condominiums with east-facing waterfront views and a private marina with fourteen for-purchase boat slips. Designed by FSMY Architects + Planners and RS3 Designs, the development is slated for completion in Q3 2022. Fortune Development Sales leads the sales for 160 Marina Bay with units starting from $2.2 million.  

“Groundbreaking is a major construction milestone and we are thrilled to bring 160 Marina Bay to life,” said Ronald Krongold, a managing member of Gold Krown. “Fort Lauderdale is a vibrant city that is growing exponentially with a bustling downtown complemented by beautiful beaches. With 160 Marina Bay, we are fusing those two lifestyle aspects by providing connectivity through high-tech features and a private marina for our residents to enjoy waterfront paradise on the Isle of Venice.” 

This groundbreaking marks Miami-based developer Gold Krown’s entry into the Fort Lauderdale market. Known for iconic developments such as Jungle Island and Midtown Miami, Gold Krown brings decades of expertise and foresight in emerging markets to Fort Lauderdale with 160 Marina Bay. Residences will be delivered move-in ready, designed with privacy and connectivity in mind. The development will feature four residences per floor with two spacious floor plan options ranging in size from 2,875 square feet to 2,918 square feet. Each residence will include three bedrooms, three bathrooms and one half bathroom along with expansive outdoor terraces, bringing the total living space to over 3,000 square feet. 

Unit features include 10 foot ceilings throughout, energy-efficient and impact-resistant floor-to-ceiling sliding glass doors and windows, direct water views from the living room and primary bedroom, and a spacious laundry room with a sink, side-by-side large capacity washer and dryer, and space for additional storage. Chef-inspired kitchens will include Italian cabinetry and high-end appliances by Sub-Zero®, Wolf® and Miele®. Dining rooms will feature a built-in bar area with quartz countertops, open shelving with LED lighting, under-mounted stainless steel sink and an under-counter wine cooler by Sub-Zero®. Each residence comes with its own private elevator vestibule entry into a foyer, a private storage closet, and two garage parking spaces. 

160 Marina Bay will offer top-of-the-line smart technology within each residence for controlling entry locks, lighting, and thermostats remotely or by voice activation. An in-wall smart home system will unite all smart home devices in one control system with multiple control panels located throughout each unit. Each residence will be equipped with a digital medical examination kit for facilitating remote examinations with a healthcare professional. 

“We are elated to work with Gold Krown on sales and marketing at 160 Marina Bay,” said Edgardo DeFortuna, President and CEO of Fortune Development Group. “We have celebrated successes with the developer at Midtown Miami and are eager to continue our relationship at this stunning development. Fort Lauderdale’s condo market is hot and 160 Marina Bay will bring brand new inventory with beautifully designed units and top-of-the-line finishes to the area.” 

Fourteen private boat slips with deep water access are available and include WiFI, electrical, and water connections. Amenities include a waterfront pool deck overlooking the canal with lounge chairs, cabana and BBQ area for entertaining, private WiFi accessible throughout the property, and electric vehicle charging stations available for purchase. Residents will receive digital notifications of package deliveries to a private, self-service package locker system with refrigeration capability located in the lobby. 

By Katya Demina

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Related Group Sells New River Yacht Club Multifamily Complex In Fort Lauderdale For $85 Million

The Miami-based Related Group has sold the New River Yacht Club multifamily apartment complex in Fort Lauderdale for $85 million, roughly $341,000 per unit. The buyer is the Harbor City, California-based BJ Verde Properties. The property was developed in 2014 by Related Group and spans 435,442 SF. Located at 400 SW 1st Ave., New River Yacht Club offers 249 apartment units which feature in-unit washer/dryer and balconies. Residences range from studio to three-bedroom floor plans. Amenities include a pool deck with summer kitchen, a communal dining area with a fireplace, 24-hour state-of-the-art fitness center, spa treatment room and sauna, business center and game room with billiards.

Related Group is currently developing New River Yacht Club III which will offer 230-units and is also planning to develop New River Yacht Club II which will offer 349-units. Related Group also developed the 272-unit luxury apartment tower Icon Las Olas in Fort Lauderdale.

Alco International Group Hits $75 Million Sellout Of Adagio Fort Lauderdale

Alco International Group has achieved a $75 million sellout of Adagio Fort Lauderdale at the luxury condominium along Fort Lauderdale’s Intracoastal waterway. Sales and marketing were led by ONE Sotheby’s International Realty’s Development Division.

The 10-story boutique building features spacious, flow-through, three-bedroom, three-and-one-half bath residences ranging from 2,383 SF to 4,085 SF. Positioned along the widest stretch of Fort Lauderdale’s Intracoastal waterway, Adagio Fort Lauderdale Beach features panoramic waterfront views and a private marina with six dock slips and direct access to the ocean.

In addition to the private marina, amenities include a scenic roof-top pool and a second ground-level pool overlooking the Intracoastal waterway, private cabanas, fitness center with a cardio and yoga studio, clubroom with coffee bar, pet-friendly atmosphere with grooming station and ample private storage.

Images via Adagio Fort Lauderdale, One Sotheby’s International Realty

Alco International Group Hits $75 Million Sell Out Of Adagio Fort Lauderdale

Adagio Fort Lauderdale, a luxury condominium developed by Alco International Group, has achieved its $75 million sell out with development sales let by ONE Sotheby’s International Realty’s Development Division.

The 10-story boutique building features spacious, flow-through, three-bedroom, three-and-one-half bath residences ranging from 2,383 to 4,085 SF. Positioned along the widest stretch of Fort Lauderdale’s Intracoastal waterway, Adagio Fort Lauderdale Beach features panoramic waterfront views and a private marina with six dock slips and direct access to the ocean.

In addition to the private marina, amenities include a scenic roof-top pool and a second ground-level pool overlooking the Intracoastal waterway, private cabanas, fitness center with a cardio and yoga studio, clubroom with coffee bar, pet-friendly atmosphere with grooming station and ample private storage.

Images via Adagio Fort Lauderdale, One Sotheby’s International Realty

Automotive Management Services Acquires Jaguar Fort Lauderdale Property For $11.8 Million

An entity tied to the West Palm beach-based Automotive Management Services has acquired the Jaguar Fort Lauderdale property for $11.8 million from the Fort Lauderdale-based AutoNation (NYSE: AN). The transaction was overseen by Chase Deuschle of CBRE. Automotive Management Services is one of the largest privately held automotive dealership firms in the United States.

The dealership was developed in 2004 and features a 107,019 SF structure on a 2.51-acre site. The dealership has the capacity to hold up to 1,200 cars. Located at 6606 N Andrews Ave., the dealership is visibly exposed to I-95. AutoNation first acquired the property in 2017 for $14 million. The dealership was previously known as Alpine Jaguar.

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305 Concepts' Coyo Taco Signs Two New Leases In South Miami and Fort Lauderdale To Continue South Florida Expansion

As the retail and hospitality market continues to experience a rapid recovery in South Florida, regional F&B powerhouse 305 Concepts has executed two new Coyo Taco leases for locations in Downtown Fort Lauderdale and South Miami. The popular restaurant, which leads its sector, has multiple locations in South Florida and abroad and is known for its highly rated authentic Mexican street food. Colliers’ Jenny Gefen, Director - Retail, represented Coyo Taco in both of the transactions.

In South Miami, Coyo Taco will be opening in a freestanding building on US-1, formerly occupied by Spring Chicken at 1514 S. Dixie Highway. The group chose the 3,819 SF space due to its position and close proximity to the University of Miami. The landlord was represented by Cushman & Wakefield.

“This is a rare, freestanding second generation restaurant space with excellent visibility to US-1 in a highly sought-after submarket,” Gefen said. “These transactions highlight continued broad optimism over the future of the South Florida restaurant industry, and the robust strength of the market for prime retail space as we continue to move forward with positive momentum out of and past COVID.”

In downtown Fort Lauderdale, Coyo will be opening in the 2,905 SF former Suviche space at Bank of America Plaza (401 E Las Olas Boulevard). This location will be Coyo Taco’s first location in Broward County. The landlord was represented by Jeff Evans and Michael Silverman of The Comras Company.

“Las Olas is the downtown core of Fort Lauderdale and Broward County, making it a perfect fit for Coyo Taco’s first Broward County location,” said Gefen. “The restaurant is perfectly positioned at the center of the central business district, on the ground floor of arguably the top-Class A office building in Broward County, surrounded by dense and growing vertical residential.” Coyo Taco anticipates openings for both locations in Q4 of this year.

Coyo Taco’s co-founders, Sven Vogtland and Alan Drummond of 305 Concepts LLC., are also behind Wynwood’s 1-800-Lucky and The Oasis, a new 35,000 square-foot outdoor courtyard featuring six premier restaurant vendors, live performances, a fitness studio, and more.

“We have been very fortunate to find second generation spaces in markets that were difficult to penetrate pre-Covid. Our team feels that both locations fit extremely well within Coyo’s existing footprint, and we look forward to continuing our expansion throughout Florida,” said Drummond.

According to the Colliers International Q1 retail market report, the Miami-Dade retail market remained strong, with only a .3% increase in vacancy since Q1 2020.

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DRA Advisors And Banyan Street Capital Sell Pinnacle Corporate Park In Fort Lauderdale For $58.875 Million To Crowdfunding Buyer

A fund managed by DRA Advisors LLC in a joint venture with Banyan Street Capital has sold the Pinnacle Corporate Park in Fort Lauderdale for $58,875,000 to Feldman Equities. The deal was the St. Petersburg, FL-based Feldman Equities first acquisition in South Florida and capital was raised through crowdfunding using the online platform Crowdstreet.com.

Avison Young’s Florida Capital Markets Group facilitated the disposition on behalf of the seller. Avison Young Principals John K. Crotty, CCIM, and David Duckworth led the sales team, which also included Principal and Miami Managing Director Michael T. Fay, Principal Greg Martin, Principal George Vail, Vice President Brian C. de la Fé, and Associate Berkley Bloodworth.

Pinnacle Corporate Park is a two-building, class A office portfolio at 500 and 550 W. Cypress Creek Road in Fort Lauderdale. The portfolio totals 259,458 SF on 14.31 acres in Broward County’s Cypress Creek submarket. At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.

Pinnacle Corporate Park was 83% occupied at the time of sale with a diversified mix of tenants, including professional and financial services, healthcare, and technology firms. Following the sale, Avison Young retained the leasing assignment for the property. Feldman Equities plans to invest over $3 million in renovations and fully furnished suites that will allow new tenants to move in quickly.

“Pinnacle Corporate Park received intense interest and multiple competitive offers due to its strong occupancy, rental rate growth, lease-up potential, and ideal location just minutes from Interstate 95 and walking distance from the Tri-Rail,” said Crotty. “Although 100% of the property is in use, our Capital Markets team creatively marketed the development potential in the existing parking lot, therefore uncovering the land’s intrinsic long-term value, enhancing overall interest, and ultimately achieving a record price-per-square-foot.”

“The Pinnacle Corporate Park sale represents the trend of large funds and institutional owners’ confidence to buy and sell large office assets as pandemic-driven concerns wane,” said Duckworth. “In Broward County, we see a strengthening uptick in investor demand for well-located suburban office assets as corporate decision-makers and C-suite executives relocate to South Florida, bringing businesses and money to invest.”

Pinnacle Corporate Park is in the heart of Fort Lauderdale’s Uptown Urban Village, a master plan that supports the development of a thriving, transit-supportive, mixed-use neighborhood. Its offices are less than a mile from Interstate 95 and directly accessible from the Cypress Creek Tri-Rail station.

Florida Panthers Break Ground On $65 Million Fort Lauderdale War Memorial Revitalization

Not only are the Florida Panthers in a push for the Stanley Cup, the team has broken ground on their $65 million revitalization of the Fort Lauderdale War Memorial and Baptist Health IcePlex. The Panthers will update and renovate the Fort Lauderdale War Memorial Auditorium as well as build a new state-of-the-art practice and community ice facility which will be known as the Baptist Health IcePlex. In total the public-private venue will span 144,000 SF.

The Panthers hosted a ceremonial groundbreaking with Fort Lauderdale Mayor Dean Trantalis, District 2 Commissioner Steven Glassman, Florida Panthers Chairman, Owner & Governor Vincent J. Viola and CEO & President Matt Caldwell, who introduced the new project and continued partnership with Baptist Health.

The Baptist Health IcePlex is expected to be completed next summer 2022. The facility will feature two regulation-sized indoor ice rinks, including a dedicated public rink offering a variety of youth and adult hockey programs, public skating, and figure skating. The Panthers official practice rink will feature a private locker room, fitness center and stadium seating for up to 1,000 fans during practices and training camps, which will be free and open to the public.

The Fort Lauderdale War Memorial Auditorium will get an updated and fully-renovated ballroom and theater. Live Nation is expected to be the facilities’ official programming partner pending a 10-year agreement which is in the works. The War Memorial Auditorium will also continue to serve as a tribute to honor Broward County's fallen military heroes.

Images via Florida Panthers and Rossetti

Kolter Urban Launches Tallest Luxury Condo on Fort Lauderdale Beach

Kolter Urban, a Palm Beach, Florida-based real estate development and investment firm, has launched Selene Oceanfront Residences, a luxury condominium development located directly across from the award-winning Las Olas Beach at 3000 Alhambra Street. The 26-story, slender two tower, beachfront property will offer 204 luxurious residences with several unique floor plans, including penthouses.

Selene will feature over 5,300 square feet of restaurant space at the base of the building, providing an unrivaled oceanfront dining experience. Douglas Elliman will lead sales efforts for the development with residences priced from $900,000. Construction will commence in November 2021 with expected completion by early 2024.

“The inspiration behind Selene was to create thoughtfully designed ‘homes in the sky’ on Fort Lauderdale’s iconic beach,” said Bob Vail, President of Kolter Urban. “Residences at Selene perfectly couple the space and comfort of living in a traditional home with the luxury and sophistication of high rise oceanfront living.” 

Selene’s exceptionally spacious two- and three-bedroom residences will range from 1,400 to 3,200 square feet with a limited collection of penthouses. Residences have been designed to the highest standards of quality and craftsmanship. The open, contemporary floor plans with floor-to-ceiling glass showcase exceptional direct views of the Atlantic Ocean, Intracoastal Waterway, or dynamic city skyline from most residences. Seven of the nine available floorplans are positioned on glass corners offering breathtaking views. Residences are delivered ready for buyer customization upon ownership or with luxurious designer finish packages which include large-format porcelain flooring in main living areas, European cabinetry, and chef-inspired stainless appliances.

Designed by Kobi Karp Architects with interiors by ID & Design International, Selene brings contemporary architecture together with a host of indoor and outdoor resort-style amenities, including two elevated pool terraces with a resort-style pool, a lap fitness pool and a spa, contemporary poolside cabanas and day beds, open gathering spaces and intimate conversation areas, an outdoor kitchen, multiple fire pit lounge areas and a pavilion-shaded pool bar. Concierge services are available and range from everyday needs such as dry cleaning to pre-arrival residence preparation. For elevated peace of mind, Selene provides 24/7 security and access-controlled entry points to all elevators, both lobbies, the parking garage, and all amenity spaces. 

Selene’s two slender towers rise 300 feet, making the project the tallest luxury condominium on Fort Lauderdale Beach offering expansive homes in the sky. At street level, lushly landscaped grounds and elegant plazas at each corner create a seamless transition to the surrounding neighborhood and provide direct access to the beachfront.

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Four Seasons Private Residences Fort Lauderdale Reaches 75% Sold With $15 Million Penthouse Sale

Sales have passed the 75% mark at Four Seasons Private Residences Fort Lauderdale, the first five-star development in Broward County, amid the sale of its massive $15 million penthouse. The sale of Penthouse 2201 comes as demand for bigger homes, with panoramic water views along Florida's oceanfront, is skyrocketing.

Penthouse 2201 spans 5,766 square feet of interior space with four bedrooms, six bathrooms and 5,442 square feet of outdoor space, including a wraparound terrace. The residence offers coveted features, including direct elevator entry, a foyer with adjacent powder room, and a library located off the oceanfront living room.

Four Seasons Fort Lauderdale features 148 guest rooms and 83 residences ranging from one- to four-bedrooms, with each residence offering expansive living spaces, large private terraces and unparalleled views of the Atlantic Ocean and Intracoastal Waterway. Amenities and à-la-carte services managed by Four Seasons, include a state-of-the-art fitness center, two pools with luxury cabanas, beach butler service, signature Four Seasons spa, yachting services and special courtesies at Fort Partners’ premier portfolio throughout South Florida and the Caribbean. Pets will have their very own pet concierge and on-call veterinarian.

Four Seasons Fort Lauderdale was designed Miami-based architect Kobi Karp with interiors by Tara Bernerd and hospitality designer Martin Brudnizki, and landscape architecture by Fernando Wong.

With the sale of 2201, there's only one penthouse remaining at the development, a 4-bed, 6.5-bath home with a rooftop pool now on the market for $15.9 million. Pricing for two-to four-bedroom private residences starts at $3,595,000 and occupancy will begin later this year. Douglas Elliman Development Marketing exclusively overseeing sales and marketing for the project.

Imagery via Four Seasons Fort Lauderdale

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