Elliman is teaming up with IMI Worldwide to promote the 40-unit Salato Residences.
Douglas Elliman Development Marketing has been enlisted by U.S. Development to strengthen the sales team for the Salato Residences condominium project in Pompano Beach. The collaboration extends to IMI Worldwide, as announced in a press release. U.S. Development, headquartered in Philadelphia and led by CEO John Farina, commenced sales for the 10-story, 40-unit Salato Residences at 305 Briny Avenue in February. IMI Worldwide, under the leadership of CEO Mike Collins, has been involved in the sales efforts for U.S. Development’s projects in South Florida, including 1625 Ocean and Ocean Delray.
The marketing of Salato will be spearheaded by Douglas Elliman’s Keriann Worley, Denver Bright, and Vanessa Sidi, in conjunction with IMI. Despite already preselling 25 percent of Salato’s units, a change in sales leadership at IMI prompted the collaboration with Douglas Elliman. According to Collins, the departure of their sales lead presented an opportune moment for collaboration.
The release indicates that Salato’s three-bedroom, three-and-a-half-bathroom condos start just below $2 million. The building boasts a 20,000-square-foot amenity deck, direct beach access, and 100 feet of oceanfront.
According to Collins, a significant portion of Salato’s prospective buyers are individuals seeking to relocate to Florida for tax advantages or desiring a second home in the Sunshine State. “It’s a buyer not looking for Miami,” remarked Collins. While the project primarily targets Northeasterners, there has been substantial interest from Canadians. Collins highlighted the robust market for Pompano in Canada, mentioning collaborative efforts with marketing partners based in Montreal and Toronto by IMI and Elliman.
Agents note that Canadians constitute one of the most noteworthy international buyer demographics in South Florida, ranking among the top nationalities for residential property purchases in the tri-county region. This trend stands out as the sole non-Latin nationality to achieve such prominence.
Pompano Beach is witnessing the emergence of several luxury condo projects. In September, Related Group and Merrimac Ventures submitted plans for a 28-story, 92-unit Waldorf-Astoria branded tower in the coastal city. Concurrently, Related secured a $158.9 million construction loan for the nearly presold-out 118-unit luxury condominium, Casamar. Additionally, in September, the completion of the 105-unit, 20-story Solemar took place, with over 100 deeds recorded.
South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre