Does The Ritz Carlton In Pompano Beach Offer The Best Value Ocean Front Living in South Florida?

The Best Value Ocean Front Living in South Florida at $1,400 per SF

The Ritz Carlton is coming to Pompano Beach. If you had not heard about this, do not worry! The project has not even launched yet and marketing material is not yet available. The project however, is already taking reservations and presentations are given to potential buyers. Our team already reserved three units this week. We discussed the first details, floor plans and provided our readers with the first renderings in our previous blog. In this article we will look at the value of the Ritz Carlton Residences in Pompano Beach. Is this the best value condo on the beach of South Florida?

What Makes the Ritz Carlton in Pompano Beach Stand Out?

As mentioned before, this project is brand new and has not even launched yet so we will post the details as we receive them. There are a few characteristics that really make this project stand out. For this blog we focus mainly on the Beach Tower, which is the largest tower that is located right on the sand of Pompano Beach.

• The superb oceanfront location – Residents will enjoy 250’ of direct oceanfront and the beautiful beaches of Pompano Beach
• The private marina – Many of ours buyers want their yacht docked close to their residence
• The Beach Tower residences are very spacious ranging from 1,309 SF to 3,746 SF and one of the penthouses offers as much as 6,824 SF – Exactly what everyone is looking for post Pandemic
• The marina tower, also with 250 feet of waterfront, will have one- to four-bedroom units, ranging from 917 square feet to 3,947 SF
• The 1 bedroom residences are easily converted into a 2 bedroom and also offer a separate office
• The project will be very high-end with signature Ritz Carlton services and the best amenities imaginable
• Custom Interior details are designed by Piero Lissoni who also designed the Ritz Carlton Residences in Miami Beach, which is one of Miami’s most successful pre-construction condos
• ITS PRICE PER SF….

An 01 Line Example

One of the units I was most impressed with is an 01 Line unit at the Beach Tower. This southeast facing corner residence offers the following features:

• 4 bedrooms, 5 bathrooms
• 3,746 Interior SF
• 975 Exterior SF
• 4,713 Total SF
• Asking $5,2M
• $1,388 per SF

The 01 line is one of our favorite lines in the entire project. It ticks all the boxes of what a good floor plan should offer: unobstructed ocean views, corner residence, great flow, separate master bedroom with ocean views, sunset and sunrise living room, a large wrap-around balcony and a private lobby.

An 04 Line Example

The northeast corner unit

• 4 bedrooms, 5 bathrooms
• 3,185 Interior SF
• 692 Exterior SF
• 3,877 Total SF
• Asking $4.450M
• $1,400 per SF

Does The Ritz Carlton In Pompano Beach Offer The Best Value Ocean Front Living in South Florida?

In the table below we compared several of South Florida’s most desired oceanfront condos in  Miami, Fort Lauderdale and Pompano Beach. These are all newer condos which are highly valued in their respective markets. Please note that these are average values, so not the value for the best unit in the project, while for the Ritz Carlton in Pompano Beach we used the asking price per SF of the unit referenced above, which is one of the better units in the condo.

The Ritz Carlton in Miami Beach is not located on the ocean but we wanted to compare the values of both projects. You can see that even though the Ritz in Miami Beach is not on the open water, the project trades for $50 per SF more than the Marina Tower of new Pompano Beach project. The Ritz Carlton in Sunny Isles Beach trades for $1,450 per SF. Other condos that are branded with a luxury hospitality name are trading for much higher prices.

Average Sales Prices per SF – The Prices per SF for the Ritz Carlton Residences in Pompano Beach are asking prices per SF

The unit we referenced above is a high floor, corner residence with unobstructed ocean views and arguably the single best floor plan in the entire project which is asking just over $1,100 per SF! That is great value. I have many buyers that are looking to buy an oceanfront condo but for the right value. The Ritz Carlton in Pompano Beach would be considered great value!