Ritz-Carlton Residences Enters Pompano Beach with Luxury Residences
Ritz-Carlton Residences enters Pompano Beach real estate with its recent grand opening of a more than 4,000-square-foot sales gallery. Located at 1380 S. Ocean Boulevard, this luxury condo will have two towers: the Beach Tower and the Marina Tower. It will be strategically placed at the beachfront, giving residents a charming view of the sea from the comfort of their own homes. The project is also expected to extend to the Intracoastal Waterway which is just right across the street.
The residences are said to be the most expensive development of its kind in the area. Units in the Marina Tower will be priced at just a little under $1 million while Beach Tower condo units will have a value of around $3.5 million.
The Beach Tower is designed to have 32 stories, creating space for a total of 117 residences. Of these units, four will be designated as penthouses and have a maximum of five bedrooms. Each penthouse will have service quarters. However, only two will have an attached rooftop garden terrace, a summer kitchen, and even a private pool! Unit sizes will range anywhere from 1,491 to 7,193 square feet. This makes the Beach Tower a viable property for single-person households, couples, and families. For security purposes, each residence will have its own private elevator lobby.
Residents of the Beach Tower will have direct access to building amenities like the oceanfront infinity pools, the fitness center, a beauty salon, and even a barbershop! There’s also a library, a business center, a breakfast room, and a private beach club with a bar and grill. All units in the Beach Tower will have a direct and clear view of the ocean. Corner units will have the added view of the Intracoastal line.
The Marina Tower will be smaller at 14 stories and a total of 88 residences including four penthouses. All of these penthouses will have a private pool, a rooftop garden terrace, and a summer kitchen. Each unit in the tower will have an area of anywhere from 917 to 3,985 square feet.
As for the Marina Tower, amenities will include a bar and grill, boardwalk, sunset pool, a pet spa room, a virtual golf simulator with lounge, and even a kid and teens club room. Boating enthusiasts will also love the private yacht club of the Marine Tower complete with 13 boat slips which will be sold to the owners of the tower. For this tower, the view will be that of the marina with partial views of the ocean for the east-facing units.
All units from both towers will enjoy a 24/7 valet service, his and hers spa, and even a wellness center. For those who have dogs, the property also has its own dog park. Built into the tower are six guest units that residents can book for visiting friends and family for a reasonable fee. All guests booked into the guest units will be given access to all the amenities available to residents.
Sales Gallery Opening
The sales gallery opened in May and gave buyers the chance to look into the units and see exactly how these residences will look as their future homes. It features model bathrooms, kitchens, an outdoor deck, a private beach area, and a fire pit. All sales are expected to go through the Fortune International Group as the exclusive team in charge of sales and marketing.
Even before May, however, a whisper launch was already concluded in January as part of the pre-sales approach of the team. At the time the sales gallery launched, around 80% of the units were already reserved with hard contracts already scheduled for signing. Most of the buyers come from Florida while others originate from New York, Illinois, Massachusetts, Brazil, and Canada. The initial deposit is set at 10% of the overall cost of the residence and another 10% within 90 days from reservation. Another 15% should be paid during the groundbreaking. The remaining balance is expected at the time of the closing of the sale. Groundbreaking is expected to be at the end of this year while project completion is by 2025.
About Pompano Beach
Pompano Beach wasn’t always the real estate hotspot it was predicted to be. For years, the area was ignored as an investment opportunity as other properties seem to be a better option for the private sector. With the changing times, however, the general area started to become known as a potential residential haven, especially with the introduction of upscale residential properties like Sabbia Beach, Casamar, and Solemar. Sabbia Beach was completed in 2018 with the latter two currently being built. The upward trend continues with the addition of the Ritz Carlton Residences.
With the introduction of these upscale residences, more improvements are expected along the Pompano Beach line. There’s the Fisher Family Pier, the Pompano Beach Fishing Village, and a host of other restaurants, hotels, and retail shops. All in all, the area became a teeming beach town that’s incredibly attractive as a destination spot and soon – a place that people can call home.
About the Developers
Ritz-Carlton Residences is expected to rise under the guidance of Fortune International Group and Oak Capital. With a solid reputation and a longstanding history in real estate, the group is known for spotting hidden gems and turning the landscape into residential havens. Having the ability to identify property hot spots before they emerge, the firm’s CEO currently has his sights on Pompano Beach.
According to CEO Edgardo Defortuna, there couldn’t be a more beautiful property to deliver The Ritz-Carlton Residences that the Pompano Beach and Intracoastal area locations.
Fortune International Group and Oak Capital are both noteworthy names in their own right. Oak Capital is responsible for setting up two other Ritz-Carlton Residences under the guidance of Ricardo Dunin, founder and CEO. Prior to Oak Capital, Dunin was a founding partner of Lionheart Capital, another real estate firm that completed the Ritz-Carlton Residences, Singer Island, and Ritz-Carlton Residences, Miami Beach.
As for Fortune International Group, the firm is responsible for real estate developments like The Ritz-Carlton Residences, and Sunny Isles together with the Chateau Group.