The Q1 2020 Fort Lauderdale Real Estate Report: The Best Fort Lauderdale Condos for Sale
Part 2: The best performing Condos in Fort Lauderdale
In part 2 of our Fort Lauderdale Real Estate Luxury Report we will examine: the “Top 5 Luxury Condos for sale in Fort Lauderdale”. These are the Condos that have achieved the highest figures; by virtue of asking price or sales price. Taking a look at their statistics we can see the trajectory of sales; what has sold over the last 12 months. Included are Q1 Performance Charts to highlight current selling trends. We report on what the buildings are asking today and what sold in the past.
In Fort Lauderdale there are currently 220 units listed at $1 million or more, 120 luxury units sold this past year and 70 units are currently pending sale. The overall luxury condo market has a 22 month supply of inventory in Ft Lauderdale. Compared with Miami which has 704 luxury units for sale, 147 units closed in the past 365 days and only 18 condos that are pending. The Miami luxury condo market has a 57 month supply of available units. Units in Ft Lauderdale are selling at a rate 2.5 times faster than Miami. Having lower available inventory and lower prices per SF, pricing is keeping the condo market moving in Fort Lauderdale. Now let’s dive into the top selling and the Best Fort Lauderdale Condos for Sale.
Adagio Fort Lauderdale is now ready for delivery of fully finished units. This newly constructed coastal-modern condo sits pristinely on the Intracoastal side of Fort Lauderdale Beach in the trendy and cool North Beach Village neighborhood. Surrounded by exquisite examples of 1950’s architecture, unique hotels and cute outdoor cafes, Adagio adds a touch of modern luxury. Conde Nast Traveller describes the neighborhood as “ultra low key and easy”. A unique location adorned with “…plenty of eye candy: sprawling villas with sleek yachts docked out front”. What sets Adagio apart from other condos in this class is the private marina and huge amount of outdoor living space. Some residences even come complete with full summer kitchens. Add to this a flow-through design, each of the 31 units captures stunning views of the Intracoastal Waterway and downtown Fort Lauderdale.
Reasonably from this description you can understand why Adagio made the Top 5. Adagio had two of the Top 5 Closed Sales in Q1 2020. In the last year 9 units have sold with an average price per square foot of $767. There are currently 6 units available listed between $2,087,000 – $5,200,000. Two of the penthouses are still available. PH01 offers a flow-through 4,000 SF unit with a huge outdoor terrace that includes a wet bar, complete summer kitchen, private boat slip and cabana. Sitting 2 blocks away from Adagio in the same neighborhood is the under construction Four Seasons Fort Lauderdale. The Penthouse here is listed for $35m, but that is another story.
Sitting directly on the sand with 450 linear feet of beachfront, Auberge Beach Residences was among the first in a wave of new construction projects to set a higher standard of quality condominium living on Fort Lauderdale Beach. The exterior design elements such as the iconic cascade tower with sweeping verandas and personal swimming pools garnered much excitement. The Auberge Brand is synonymous with five star resorts. They imbued their brand identity into all of the services provided to the residents at Auberge Beach Residences. These services include concierge, fine dining, spa services, poolside attendants and more. The units in the South Tower provide flow-through design. Our choices for the best lines in the South Tower would be the 01 or 06 line. These are end units which offer additional windows to enhance the indoor/outdoor living experience. The north Cascade Tower with only 57 residences boasts sweeping terraces and some have personal pools. The top lines in the north Tower are 01 through 03. We would like to say it’s hard to choose which units are best. It’s not a cut and dry choice. Auberge living feels individualized with over 36 floor plans offered in the Cascade Tower and 22 floor plans in the South Tower there is something for everyone. Buyers should be advised to check the design of the bathrooms. We noticed that some of the showers were small in scale and recommend expanding.
One of the best Fort Lauderdale Condos for sale is Auberge. Auberge introduced a new level of luxury pricing to Ft Lauderdale Beach in 2018. Closed sale units averaged $1,210 per SQR FT which ranks highest among ready to deliver luxury condos in Ft Lauderdale. The under construction Four Seasons is currently selling at a much higher average of over $1,700 per SQR FT . Auberge claimed two of the Top 5 sales in Q1 with a total of 7 units closing in the past year. Refer to Part 4 of this report for a comparison with Miami Condo Pricing. There are currently 28 units listed between $1,750,000 – $12,995,000. The most expensive unit available is Penthouse 1601 which encompasses the full floor. It is located in the iconic north Cascade Tower with 5,315 SQR FT of interior living and 2,246′ SQR FT of outdoor living space. The 4 bedroom 6 1/2 bath residence will be delivered complete with construction by highly regarded Miami Stambul and Interior Design by DKor. The maintenance charges are $4,700 per month for this unit. Auberge is the only Top 5 Ft Lauderdale Condominium offering an “on the sand” beach living experience.
Paramount Residences Fort Lauderdale began the shift to a new level of luxury on Fort Lauderdale Beach. Completed in 2017 around the same time as Auberge. The construction details of the Paramount are highly stylized. The lobby entrance is massive with impressively displayed works of contemporary art and displays of light. The 5 star services provided include beachside service, 24 hour attendant, valet and other expected amenities. The Paramount is located across the street along a quiet section of Fort Lauderdale Beach within the quaint North Beach Village neighborhood. Surrounding the Paramount are small specialty boutiques, bistros and beautiful parks (Bonnet House and Gardens & Birch state Park).
The Paramount is home to 95 residences, 16 of them are currently for sale between $895,000 and $9,999,000. There have been 5 closed sales in the past year at an average of $770 per SQR FT. Interestingly 12% of the building is for rent indicating that some of the units were purchased as investment properties. The best lines in Paramount are the 01 and 02 lines which are fully facing the beach. The unit highlights are two available 2-story Penthouses. Each Penthouse is 5,985 SQR FT with an exceptional 4,000+ SQR FT rooftop terrace complete with summer kitchen and private pool. Choose your views and either decorator ready or one comes fully furnished. The maintenance fees are $6,706 per month.
In a list with the best Fort Lauderdale Condos for sale the Four Seasons cannot be missed. Currently under construction with a delivery in Q1 2021 is the Four Seasons Private Residences Fort Lauderdale. Designed by acclaimed architect Kobi Karp, the project is set on the beachfront strand of Fort Lauderdale beach. It is intimately sized at only 22 stories and faces the ocean like a glass encased bow of a ship, angled on each side to capture maximum ocean views. This design makes sense because of the ideal positioning adjacent to some of the most renowned deep-water marinas in the United States. The yachting theme continues though-out the interior kitchen designs by famed designer Tara Bernerd, custom lacquered millwork cabinetry with antique bronze metal fittings, Dornbracht faucets and curated appliances including Sub-Zero, Miele and Wolf. The bath experience was inspired by luminous sunlight, Greek Statuario Marble and oak vanities with brushed nickle Waterworks fittings were used and accents of antique brass trim reminiscent of ships at sea.
The Four Seasons Residences Fort Lauderdale consists of 42 unfurnished private residences, 48 furnished private residences with approximately 130 guest rooms, which are separated from the private living experience. The price per SQR FT averages around $1,782 SQR FT. Fort Lauderdale has now entered the luxury pricing market typically reserved for ultra prime residences in Miami Beach. If interested in the Four Seasons Fort Lauderdale contact the David Siddons Group. We have the access to yet unreleased developer units.
The highlight unit has to be the ultimately priced $35 million Penthouse. The 2-story Penthouse presides majestically over Fort Lauderdale Beach with over 12,000 SQR FT of indoor living space and a 7,000 SQR FT rooftop Skypark. Additional private amenities include a fully furnished interiors and bespoke features, private pool, private jacuzzi, putting green, summer kitchen, outdoor gym, outdoor running track and the list goes on. This is a home you would never need to leave especially with room service provided by Four Seasons resident services. Listed $2,916 per SQR FT for the ultimate living experience, it’s a bargain.
L’ Hermitage is a two-tower beachfront condominium located directly on the sand. The surrounding 10 acres of manicured oceanfront grounds offer resort style living. The construction of L’Hermitage was completed in 2 phases. The phase one tower with 28 stories and 238 units was completed in 1998. Phase two was completed in 2007 with a 29 story tower and 223 units. The property amenities include 24 hour security, gated entry, concierge services, private beach pavilions, 2 heated pools, tennis and pristine beachfront access. L’Hermitage is the gateway to the Galt Ocean Mile condo strand and is nestled next to the single family beachfront neighborhood of Lauderdale Beach. It is within walking distance to multiple bistros, fine dining and entertainment options.
L’Hermitage is the oldest construction in our selection of top performing condominiums. The staying power of this condo community is a tribute to the quality of residents, property management and resort style beachfront amenities. Currently only 5% of L’Hermitage is offered for sale with starting prices of $855,000 going up to $5,950,000. The average price per SQR FT in closed sales is currently $676. L’Hermitage saw 20 closed sales of over $1m in the last 365 days.