News & Events

In South Florida, the Surest Way to Sell a Condo Is to Price It Above $1M

In South Florida, the Surest Way to Sell a Condo Is to Price It Above $1M

The luxury condo market in South Florida may prove resilient this year as developers add to the supply of the area’s priciest condos. What defines luxury condos and distinguishes them from lesser condos is debatable. But everyone agrees luxury doesn’t come cheap. And, this year, the number of seven- and eight-figure condo sales in South Florida may increase more than the number of six-figure sales.

Sales of condos for $1 million or more increased 9.7 percent in Miami-Dade, Broward and Palm Beach counties in the first quarter, compared to the same period last year, while the total number of condo sales fell 12.3 percent, according to monthly reports on transaction volume by brokerage Douglas Elliman.Broward Country has tripled its ultra-luxury sales since the start of the decade, with a sales volume of $175.3 million and a dozen sales in the $12 million-and-up strata.
Single-family homes in Hillsboro Beach have fetched prices in the eight-figure range, particularly for mansion-class properties. While Hillsboro Beach has long been an under-the-radar combination of small town and luxury resort area, its appeal has not escaped notice by the very well-heeled, earning it the moniker “Millionaire’s Mile.”

EXPLORE MORE

Once Overlooked, Two Florida Beach Gems Gain Attention

Once Overlooked, Two Florida Beach Gems Gain Attention

With land in Miami and Fort Lauderdale at a premium, developers intent on creating new properties with views of the blue are more and more inclined to look northward for opportunities in the Broward County oceanside cities of Hillsboro Beach and Pompano Beach. Just a half dozen miles apart, the two beach destinations are situated less than 15 miles from Fort Lauderdale and just two miles from Boca Raton.
Broward Country has tripled its ultra-luxury sales since the start of the decade, with a sales volume of $175.3 million and a dozen sales in the $12 million-and-up strata.
Single-family homes in Hillsboro Beach have fetched prices in the eight-figure range, particularly for mansion-class properties. While Hillsboro Beach has long been an under-the-radar combination of small town and luxury resort area, its appeal has not escaped notice by the very well-heeled, earning it the moniker “Millionaire’s Mile.”

EXPLORE MORE

What’s being built there? New condos, high-end restaurant coming to Pompano Beach

What’s being built there? New condos, high-end restaurant coming to Pompano Beach

The location? Salato means “briny,” or “salty,” in Italian. The name is a nod to Salato’s location at 305 Briny Ave. in Pompano Beach, which is south of Atlantic Boulevard, and close to the water. The multimillion-dollar project will rise nine stories to accommodate condos across 1.33 acres, and a high-end restaurant also is expected. Developers interested in building new projects, such as Salato, have to turn to redevelop because barren land is long gone: They are “knocking down previous structures and building a new structure,” said Pompano Beach Mayor Rex Hardin. “A lot of other places are redeveloped. Pompano Beach still has opportunities.”

EXPLORE MORE

US Development taps Elliman to sell Pompano Beach condos. Elliman partnering with IMI Worldwide to market the 40-unit Salato Residences.

US Development taps Elliman to sell Pompano Beach condos. Elliman partnering with IMI Worldwide to market the 40-unit Salato Residences.

U.S. Development is bringing in Douglas Elliman Development Marketing to beef up the sales team for its planned Salato Residences condominium in Pompano Beach.

Elliman is teaming up with IMI Worldwide to market the project, according to a press release. Philadelphia-based U.S. Development, led by CEO John Farina, launched sales of the 10-story, 40-unit project at 305 Briny Avenue in February. IMI Worldwide has handled sales for U.S. Development’s Salato as well as its other projects in South Florida, including the 14-unit 1625 Ocean and 19-unit Ocean Delray, according to IMI CEO Mike Collins.

EXPLORE MORE

U.S. Development Announces Dynamic Sales and Marketing Team for Salato Pompano Beach

U.S. Development Announces Dynamic Sales and Marketing Team for Salato Pompano Beach

Douglas Elliman will lead the sales team, with IMI Worldwide spearheading marketing

U.S. Development announces the sales and marketing team for its newest ultra-luxury project, Salato Residences in Pompano Beach. The partnership consists of Douglas Elliman Development Marketing (DEDM) presiding over sales and IMI Worldwide in charge of marketing.

EXPLORE MORE

Topgolf To Anchor 223-Acre Mixed-Use Development In Pompano Beach

Topgolf To Anchor 223-Acre Mixed-Use Development In Pompano Beach

Construction is currently in progress for a three-story Topgolf venue situated at the junction of Powerline Boulevard and Race Track Road in Pompano Beach.

The new location, set to open later this year, will serve as the centerpiece for Live! Pompano Beach, a 223-acre, mixed-use development project presently being spearheaded by The Cordish Companies and Caesars Entertainment.

EXPLORE MORE