Comprising 4.61 acres, the “best-of-both-worlds” property will be developed into two luxury condominiums with a private marina and beachfront amenities
Prolific luxury developer Fortune International Group – whose most recent credits include the Herzog & de Meuron-created Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, and Auberge Beach Residences and Spa -- has acquired 4.61 acres of waterfront land in Pompano Beach, Fla., with plans to construct a pair of high-end condominiums on the site.
The property (a combination of two adjacent parcels at 1380 South Ocean Blvd.) is a rarity for the area – featuring 500 total feet of waterfrontage and coveted direct access to the beach as well as Biscayne Bay via the Intracoastal Waterway. Fortune International Group purchased the site from Lionheart Capital for $27.5 million.
Plans for the project are expected to be unveiled in the first half of 2021. Approved for the site is a 30-story building on the ocean and a 12-story building on the Intracoastal -- a combined total of 239 residences. The property will additionally feature a private marina and shared beachfront amenities.
“On the heels of our success at Auberge, which is located just a few minutes south of this site, we plan on bringing a world-class project to Pompano Beach -- one that will offer a very unique lifestyle for the benefit of local residents as well as those who are relocating to South Florida, such as Northeast and Canadian buyers,” said Edgardo Defortuna, President and CEO of Fortune International Group.
“The sheer fact that there are so few waterfront sites of this magnitude available anywhere along the South Florida coastline -- from South Beach to Palm Beach -- makes this an extremely appealing opportunity for homebuyers,” continued Defortuna. “Furthermore, residents are going to have the best of both worlds: the ability to put their boat in the water, or enjoy a day on the beach.”
Fortune International Group
Synonymous with excellence, quality, customer service and unwavering commitment to the highest standards of luxury, Fortune International Group has been a recognized leader in development, sales and marketing since 1983. With over 7,000 units and 9 million square feet of projects delivered, the company’s prestigious development portfolio includes many of the most prominent residential properties in South Florida including Jade Signature, The Ritz-Carlton Residences Sunny Isles Beach, Auberge Beach Residences and Spa Fort Lauderdale, Jade Residences Brickell; Jade Beach, Jade Ocean, Artech Residences, and Hyde Resort & Residences Hollywood. In addition, Fortune Development Sales is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having sold more than 25,000 units and currently representing some of South Florida’s most successful projects such as: Missoni Baia, Una Residences, 57 Ocean, 2000 Ocean, Monaco Yacht Club, 1 Hotel & Homes South Beach, Brickell Flatiron, SLS Lux & Gran Paraiso, among others. Led by visionary founder Edgardo Defortuna, Fortune International Group has 18 offices around the world with nearly 1,000 associates. Fortune’s international broker network reaches legions of prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris.
