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5000 N Ocean Drive Opens Its Doors

Cashflow In Miami
December 13, 2020

19 stories tall tower comes with only 48 residences!

The units come with two to four bedrooms and are priced from $2.6 million to $5.6 million. Construction is completed, and the tower is 75 percent sold .

Delray Beach-based developer The Kolter Group is the builder.

And...$28 million oceanfront sale!!

Fortune International buys oceanfront land to build two towers!

1380 S Ocean blvd , Pompano Beach

Fortune is planning to build two high-end condo towers on the oceanfront and Intracoastal-front site, but plans to release more details in the first half of 2021.  

Company led by Edgardo Defortuna, paid $27.5 million for the 4.6-acre site at 1380 South Ocean Boulevard.

Fortune bought the property, which has 500 feet of waterfront, from Lionheart Capital. The developer, led by Ophir Sternberg, had planned to construct the city’s tallest buildings on the site, and was looking toof the project last year. The property is currently approved for a 30-story building on the beach, a 12-story building on the Intracoastal with 239 residential units, and a private marina.  

The sale of the site comes as more developers look to build luxury condos in Pompano Beach. Related Group recently launched sales of Solemar, a 105-unit, 20-story oceanfront building that will mark the second new development to be built on the beach in Pompano since Sabbia Beach was completed in 2018.

Developer Dev Motwani also has plans to build a 27-story condo building at 1350 South Ocean Boulevard.

We have written about the developments above, in previous blogs.

New oceanfront townhouse development coming to Pompano Beach!

GT Homes USA, a joint venture between Canadian builders Greenpark and Treasure Hill, launched sales of an oceanfront townhouse project in Pompano Beach .

The six-unit project, called The Ocean Six Terraces, is under construction and is expected to be delivered by December 2021 .

Property records show Carlotree L.P. paid $4.9 million for the Pompano Beach lot in 2018.  

Two units have been presold, and the developer has put two additional units on the market .

Prices start at $4.3 million.  

Rex Nichols Architects is designing The Ocean Six Terraces, which range from three to four bedrooms and from 3,389 square feet to 4,048 square feet. They include rooftop terraces, sunset and sunrise terraces, pools, and customizable finishes . Units will come with Miele appliances and Kohler fixtures.

Fidei said the development will have homeowners association fees at under $1,000 a month, or about 30 cents per square foot.


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