Revolutionizing Oceanfront Luxury: Waldorf Astoria Residences Pompano Beach
Waldorf Astoria’s First Purely Residential Concept Raises the Bar for Ultra-Luxury Living in Burgeoning Beach Town Amidst a remarkable surge in demand for upscale residential properties across South Florida, emerging markets such as Pompano Beach are seizing the moment to allure prospective residents. Situated amidst renowned destinations like Miami, Palm Beach, and Fort Lauderdale, Pompano Beach has emerged as one of the fastest-growing property markets in the Sunshine State. In an exciting collaboration, esteemed developers Related Group and Merrimac Ventures have partnered with hospitality leader Hilton to introduce the breathtaking Waldorf Astoria Residences Pompano Beach (The Residences). Offering a unique opportunity to reside in a piece of history, this extraordinary development marks Waldorf Astoria’s inaugural venture into purely residential concepts and its premier project in Broward County. Crafted to epitomize the opulence and convenience of Waldorf Astoria’s renowned five-star service, alongside top-tier architecture and amenities, this remarkable development sets a new standard for ultra-luxurious oceanside living in Pompano Beach. The striking 28-story structure boasts 92 impeccably designed residential units, featuring premier designs led by Nichols Architects in collaboration with KORA, interiors by BAMO, and landscaping by Enea Landscape Architecture. Offering a hospitality-inspired array of amenities, including a beachfront café with room service, a resident lounge, pool, jacuzzi, and cabanas with poolside dining and wellness facilities, this new development is set to accelerate South Florida’s expansion and contribute to Pompano Beach’s transformation into a highly coveted locale. Nick Perez, President of Related’s condominium development group, remarked, “Our aim was to encapsulate the timeless elegance and exclusivity of the Waldorf Astoria brand within a residential framework. We dedicated extensive time to delve into the rich history of the Waldorf Astoria brand, engaging with its brand ambassadors and immersing ourselves in its premier destinations worldwide—all to capture every nuance and subtlety of the brand’s enduring essence.” South Florida’s ‘Goldilocks Zone’ The introduction of The Residences coincides with a notable rejuvenation for Pompano Beach, affectionately dubbed “Florida’s Warmest Welcome.” Related and Merrimac Ventures have dedicated years to orchestrating the thoughtful revitalization of Pompano, and the broader Broward market, into an undeniable upscale destination. Renowned for its laid-back lifestyle and pristine beaches, Pompano Beach has witnessed a surge in transformative housing developments spearheaded by Related and Merrimac over the years. Related, recognized for its foresight in pioneering markets well ahead of competitors, made its mark in Pompano Beach by launching Solemar, the area’s inaugural luxury condo tower in several decades, in March 2020 amidst a global pandemic. While many developers halted operations, Related persevered, swiftly selling out all 105 units in less than six months, surpassing $200 million in sales. This success sparked a fervent interest in the Pompano Beach market, characteristic of Related’s impactful initiatives. “Pompano Beach occupies a ‘Goldilocks’ zone,” remarked Perez. “Situated between Miami, Fort Lauderdale, and Palm Beach, residents here enjoy access to the region’s finest offerings at more favorable prices.” Dev Motwani, CEO of Merrimac Ventures, reflected on Pompano Beach’s remarkable transformation, attributing it to years of meticulous development and public investment. With a decade-long ownership of the site, Motwani emphasized the uniqueness of the property, waiting patiently for the right vision to materialize. Now, partnering with Related and Hilton, they eagerly anticipate advancing what promises to be a transformative development, not only for Pompano but for northern Broward County as a whole. With over three decades of experience in Broward County, Merrimac Ventures and the Motwani family have deployed $3 billion in capital to date, boasting an active pipeline valued at over $3.7 billion. Similarly, Related and the Perez family possess a prolific history in Broward, with a portfolio of neighborhood-defining projects spanning several decades and several billion dollars under active development. The Iconic Waldorf Astoria Experience Crafted as a tribute to the rich history and legacy of the Waldorf Astoria brand, The Residences incorporates numerous nods to the esteemed name. Peacock Alley, reminiscent of its counterparts in Waldorf Astoria properties worldwide, serves as the central gathering area where residents converge to mingle and socialize. Alongside, an upcoming F&B concept and various signature touches enhance the experience, including a meticulously designed clock inspired by the iconic timepiece in New York. The influence of the renowned hotel brand extends to the meticulously curated lifestyle amenities spanning over 15,000 square feet. Notable highlights encompass a sprawling 20,000-square-foot oceanfront pool deck featuring a lap pool, private spa, outdoor bar, dining lounge, summer kitchens, and resident cabanas. Additionally, residents enjoy exclusive, direct access to 200 linear feet of pristine beachfront and a beachside cafe. Moreover, the property stands out as one of the region’s select few to boast a private marina, boasting 19 slips capable of accommodating vessels up to 45 feet in length. Further enhancing residents’ well-being, The Residences offer an extensive array of wellness-forward amenities. These include a resident-exclusive spa with a private treatment room and separate His/Her sauna and steam rooms. Additionally, a state-of-the-art fitness center equipped with the latest cardio machines, strength and conditioning equipment, and dedicated movement studio and spin room cater to residents’ fitness needs. The Residences offer an array of additional entertainment options, including a ground-floor F&B concept, billiards lounge, children’s entertainment room, and multi-sport simulator. Managed by Waldorf Astoria, buyers will benefit from round-the-clock signature resident services, such as in-resident dining, beach and pool-side service, personal concierge, and more. Notably, the property will showcase a curated selection of museum-quality art from the esteemed Jorge M. Perez Contemporary Art Collection. The Residences will be graced by Waldorf Astoria’s renowned five-star service, featuring a signature Waldorf Astoria Personal Concierge, 24-hour security and reception, doorman and bellman services, valet parking, direct parcel delivery, and a dedicated on-site Director of Residences. Ocean Inspired Living The design of The Residences aims to blur the lines between indoor and outdoor living spaces, maximizing the appeal of South Florida’s climate and natural splendor. Alongside the private marina, residents benefit from exclusive access to 200 linear feet of beachfront, offering proximity to restored dunes and the serene waters of the
BH Commences Sales for Ritz-Carlton Condos in West Palm Beach
Units start at $2.5M; Douglas Elliman is leading sales. Related Group and BH Group Unveil Sales for Ritz-Carlton Residences, West Palm Beach, Expanding Luxury Condo Offerings in the City The launch of sales for the 28-story, 144-unit project situated at 1717 North Flagler Drive signals the addition of yet another prestigious Ritz-Carlton branded development to South Florida’s burgeoning skyline. Notably, this project will represent the inaugural waterfront luxury condominium bearing the Ritz-Carlton brand in West Palm Beach, as affirmed by Nick Pérez, president of Related’s condominium division. Pérez remarked on the significant level of interest garnered by the project in recent days, citing over 30 appointments at the sales center since its Friday opening. The project is currently open for reservations, with plans to convert these reservations into contracts in the future. To oversee sales and marketing efforts, the developers have enlisted the services of Douglas Elliman, as stated in an official press release. Prices for units will commence at $2.5 million, with unit sizes ranging from 1,400 to 3,000 square feet, all boasting picturesque ocean vistas. The tower’s design is entrusted to Arquitectonica, complemented by interior design by the esteemed Rockwell Group. Amenities will encompass a pool and deck, fitness and wellness center, spa facilities, and other Ritz-Carlton hotel services, although the development itself will not feature a hotel component. Situated along the Intracoastal Waterway, the tower will offer captivating views of Palm Beach. This venture marks Related Group’s debut into Ritz-Carlton-branded developments in South Florida. Noteworthy Ritz-Carlton condominium projects currently underway include developments in Palm Beach Gardens, Sunny Isles Beach, and Pompano Beach, as well as the ongoing redevelopment of Ritz-Carlton Residences, South Beach. The prevalence of branded condominiums continues to rise across the region, particularly in Miami-Dade County and increasingly in West Palm Beach. Among the notable forthcoming projects is the Mr. C Hotel & Residences West Palm Beach by David Martin’s Terra and the Morrison family’s Sympatico Real Estate, set to feature both residential and hotel components. Both Miami-based Related Group, led by Jorge Pérez and his sons, and New York-based Related Companies, owned by Stephen Ross, maintain active involvement in West Palm Beach. Related Group is additionally slated to develop a boutique waterfront Apogee-branded condo building, with ongoing revisions to plans following community feedback. Apogee represents another venture under the Related brand, affirming their continued commitment to delivering upscale living experiences in the West Palm Beach area. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
Homewood Residences, Hillsboro Beach
The Setting for your Life Story, Featuring Rosewood Residences in Hillsboro Beach with dockage! Located in the middle of a barrier island amongst some of the most exclusive homes in the U.S. The world famous Hillsboro Mile has little to no crime & the community is under 1 mile to the inlet. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
The Old Town Square – Pompano Beach
Cavache Properties & Adache Real Estate are almost cleared for occupancy. Mixed-use commercial & residential rentals in downtown Pompano Beach! Welcome to The Old Town Square, Where urban living meets modern comfort! We’re excited to announce that we’ve received Temporary Certificate of Occupancy (TCO) for our second to fifth floors. While work and final touches will continue for approximately three more months, residents can now start moving into the lower levels. With prices starting at $1,799 for our studio-type units, and varying based on unit size and floor level, there’s a perfect fit for everyone seeking a vibrant urban lifestyle. The total number of residences will be 319, featuring one-bedroom to three-bedroom apartments. Shared facilities comprise a sixth-floor swimming pool, a pet park, a bike shop, and a movie room. The development will incorporate 3,400 square feet of commercial area, suitable for either a restaurant or retail store. Old Town Square II will be situated on 2.43 acres of a five-acre parcel acquired by developers for $8.4 million in 2023. Work on the 523,000-square-foot development is anticipated to commence in the coming months, targeting a completion date in mid-2026. It’s worth mentioning that Old Town Square II represents the second installment under the Old Town Square brand. Meanwhile, Old Town Square I is currently in progress, with plans to present 281 residences and 5,000 square feet of retail space. The address for Old Town Square II is 217 NE 3rd Street, Pompano Beach, FL, 33060, located in Broward County. Don’t miss out on the opportunity to be a part of this dynamic community. Contact us today to schedule your tour and secure your new home at The Old Town Square! South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
Bank OZK has allocated $259 million for the construction of a Ritz-Carlton condominium in Pompano Beach.
Fortune International Group and Oak Capital have secured a $259 million construction loan from Bank OZK for their collaborative Ritz-Carlton-branded condominium development in Pompano Beach, Florida, as announced by the joint venture. Situated at 1380 South Ocean Boulevard along the oceanfront, the project comprises two towers. One tower will soar 32 stories high, accommodating 117 units, while the other, standing at 14 stories, will house 88 units. Encompassing 35,000 square feet, the amenities will include a private marina and pool decks. A rendering by Revuelta Architecture International showcases The Ritz-Carlton Residences, Pompano Beach. In 2020, Fortune International, based in Miami, acquired a 4.7-acre site for $27.5 million, as indicated by property records. Collaborating with the Miami-based private equity firm Oak Capital, the developer initiated sales the following year. Presently, the project has achieved a 90 percent pre-sale status, according to a spokesperson for the joint venture. Construction is set to commence this month, with a projected completion date in 2025. Edgardo Defortuna, president and CEO of Fortune International, highlighted Pompano Beach’s emergence as a luxury market, setting a new standard for resort-style living in South Florida. Pompano Beach has recently become a focal point for high-profile developers venturing into luxury condo construction. The trend was initiated by Related Group with Solemar, a 105-unit project completed in November. Related is currently progressing with Casamar, a 118-unit development, backed by a $158.9 million construction loan secured in September. Additionally, a Waldorf Astoria-branded condo project, a collaboration between Related and Merrimac Ventures, is underway. In June, Related, alongside BH Group and Chetrit Group, invested $48 million in a 3.7-acre waterfront site, earmarked for a two-tower project. Despite this year’s interest rate hikes impacting the debt market, luxury condo developments in South Florida continue to secure substantial construction loans. In July, Witkoff Group and Monroe Capital secured $430 million from JPMorgan Chase for the Shore Club Private Collection, a redevelopment of an Art Deco property on Collins Avenue—marking the largest construction mortgage in South Florida for the year. In May, Catalfumo secured a $340 million construction loan for The Ritz-Carlton-branded condo development in Palm Beach Gardens. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
Elliman has been selected by US Development to handle the sale of Pompano Beach condos.
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
“Our Social Bunch” Takes You Inside Topgolf Pompano Beach’s Grand Opening Bash!
Hey party people! The weather might have been a bit iffy, but that didn’t stop the good times from rolling at the ribbon-cutting shindig for Topgolf Pompano Beach, Florida’s hottest new spot! Our pals at #thepomp made sure we had a front-row seat to all the action, and boy, was it a blast. Imagine this: a grand entrance that’s basically Instagram gold. Topgolf Pompano Beach nailed it with a jaw-dropping welcome that set the tone for an epic day out. Whether you’re into golf or just down for a good time, this three-story playground officially opened its doors on December 15, and we were there to soak it all in. And let’s talk refreshments, shall we? Coffee, juice, and some seriously delicious snacks were flowing, keeping everyone fueled for the festivities. Trust us, no one left hungry or thirsty. Our taste buds were doing a happy dance! Techies and sports buffs, you’re in for a treat. Massive TVs on both floors meant we could catch all the games while soaking in the lively vibes. But here’s the kicker – a digital replay for when you’re curious about where your golf ball landed. Talk about high-tech wizardry! Now, for the cherry on top – a gift shop! Yep, you can snag cool memorabilia or gift certificates to keep the memories alive. It’s like bringing a piece of the party home with you. Major win! Our Social Bunch was on the scene, capturing all the highlights and sharing the scoop with you. Topgolf Pompano Beach isn’t just for the golf die-hards; it’s a hangout haven for anyone looking to have a good time. In a nutshell, Topgolf Pompano Beach’s grand opening was a hit, and Our Social Bunch had a front-row seat to the action. With its dazzling entrance, tasty treats, cutting-edge tech, and a gift shop for keepsakes, this three-story wonderland is the place to be. So, whether you’re swinging for the greens or just swinging by for a good time, Topgolf Pompano Beach is the real deal. Thanks to #thepomp and Our Social Bunch for the VIP access!🎉 South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
The Seminole Hard Rock Winterfest Christmas Boat Parade – Fort Lauderdale
Saturday, Dec 16, 2023 @ 6:30 pm – 9:00 pm |FREE – $35 On December 16, 2023, the 52nd Annual Holiday Parade commences at 6:30 PM in Downtown, with a non-motorized vessel preshow at 6:00 PM. The Seminole Hard Rock Winterfest Boat Parade will assemble on the New River, spanning from Stranahan House to the Broward Center for the Performing Arts. The Parade begins at Stranahan House, moving East along the New River in Fort Lauderdale to the Intracoastal Waterway. It then heads North to Lake Santa Barbara in Pompano Beach, covering a 12-mile route for the “Best Show on H2O.” Expect a viewing time of approximately 2 and 1/2 hours from one location, with starting points staggered as you travel north. From private boats to colossal showboats and corporate megayachts, anticipate a spectacle of lights, music, entertainment, and celebrities. Over one million spectators will witness the dazzling display featuring beauty queens, musical groups, and other exciting entries. Join the festive parade with boat entry fees starting at just $35. Uniting our community and global visitors, this unique parade showcases beautifully decorated boats of all sizes—a must-see extravaganza. With over a million viewers along the 12-mile route, it brings an economic impact of over $50 million to Broward County, solidifying its status as a Fort Lauderdale institution where the floats truly float. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
Related Group and Merrimac Ventures Partner with Hilton to Launch Waldorf Astoria Residences Pompano Beach
In Miami, Related Group and Merrimac Ventures, in collaboration with Hilton, announced the signing of Waldorf Astoria Residences in Pompano Beach. This venture, directly facing the Atlantic Ocean, marks the iconic brand’s inaugural entry into purely residential concepts and Broward County. Nick Perez, president of Related’s condominium development group, expressed the commitment to encapsulating Waldorf Astoria’s elegance and exclusivity in the residential format. The project, situated on a two-acre oceanfront site, features 92 units with world-class design by Nichols Architects, KORA, BAMO, and Enea Landscape Architecture. With amenities like a beachfront cafe, resident lounge, pool, jacuzzi, and boat slips, it contributes to Pompano Beach’s evolution into a highly desirable address. Conceived as a tribute to the rich history and legacy of the Waldorf Astoria, The Residences incorporates various nods to the esteemed brand. A notable example is the tower’s Peacock Alley, paying homage to the iconic Peacock Alleys found in numerous Waldorf Astoria properties worldwide. This exclusive space, reserved for residents, will serve as the primary gathering area, embodying an atmosphere of social prominence. It will feature a forthcoming F&B concept and various signature touches. Enthusiasts of the brand will also recognize a meticulously crafted clock inspired by the original one at Waldorf Astoria New York, proudly showcased in the grand lobby – an iconic symbol and legendary part of NYC’s history. Waldorf Astoria’s unwavering commitment to exquisite service, culinary excellence, and unforgettable experiences resonates in the announcement of Waldorf Astoria Residences Pompano Beach,” says Dino Michael, SVP & Global Head, Hilton Luxury Brands. The esteemed hotel brand’s influence is evident in the meticulously curated lifestyle amenities, spanning over 15,000 square feet. Highlights encompass a 20,000-square-foot oceanfront pool deck, featuring a lap pool, private spa, outdoor bar, dining lounge, summer kitchens, and resident cabanas. Residents enjoy direct access to 200 linear feet of beachfront, a beachside cafe, and the exclusive privilege of a private marina with 19 slips capable of accommodating vessels up to 45 feet – a rarity in the region. This elevated approach to real estate will introduce Waldorf Astoria’s luxury brand to new audiences and buyers, setting new standards in the industry. The Residences provide a diverse array of wellness-focused amenities. This encompasses an exclusive spa for residents featuring private treatment rooms, His/Her sauna, and steam rooms. Additionally, a state-of-the-art fitness center equipped with the latest cardio machines, strength and conditioning equipment, along with a dedicated movement studio and spin room, is available for residents’ well-being. Further entertainment choices encompass a ground-floor F&B concept, billiards lounge, children’s entertainment room, and a multi-sport simulator. Buyers, under Waldorf Astoria management, will benefit from 24/7 signature resident services, such as in-resident dining, beach and pool-side service, and personal concierge. The property will also showcase museum-quality art from the globally acclaimed Jorge M. Perez Contemporary Art Collection.
Galleria Fort Lauderdale Mall Enters Market with Expectations of Selling Above $100 Million, Predicts Brokers
Property is permitted for 1,899 residential units and buildings with a maximum height of 150 feet Galleria Fort Lauderdale, positioned as a prime redevelopment opportunity, is now on the market with a targeted sale price exceeding $100 million. The 800,000-square-foot indoor shopping center, located at 2442 East Sunrise Boulevard, is being marketed by a CBRE team led by Robert Given and Brad Capas. While no specific asking price has been set, Capas anticipates the property to command a sale price surpassing $100 million. The owner, Keystone-Florida Holding Corporation, led by President William O’Connor, is advised by O’Connor Capital Partners, a New York-based real estate investment firm. The listing excludes the separately owned Dillard’s department store building and a Macy’s store under a ground lease. Presently, Galleria is 67 percent occupied, as per CBRE’s marketing brochure. Keystone-Florida’s previous attempts at redevelopment, including a proposal for at least 1,900 apartments, were unsuccessful, with the city of Fort Lauderdale not approving the development agreement last year. The property is zoned for 1,899 residential units, with a density of 60 units per acre and buildings capped at a maximum height of 150 feet, as detailed in a CBRE brochure. However, under Florida’s Live Local Act, a new owner has the opportunity to pursue a larger project, provided 40 percent of new units are designated as workforce housing. Established in 1980, Galleria comprises multiple retail buildings, mainly vacant big box stores previously occupied by Saks Fifth Avenue, Lord & Taylor, and Neiman Marcus. Keystone-Florida, the owner, had initially proposed the demolition of a significant portion of the shopping center. The plan involved replacing it with structures not exceeding 150 feet in height, gradually tapering down in areas adjacent to nearby residential neighborhoods. In 2017, facing opposition from residents, the Fort Lauderdale City Commission postponed a proposed vote that would have enabled Keystone-Florida to proceed with a redevelopment plan, envisioning 1,250 condo units in three buildings exceeding 20 stories and four shorter structures. Eventually, Keystone-Florida withdrew its proposal. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre