New York-based Douglas Elliman has been tapped to handle sales for the Four Seasons Hotel & Private Residences in Fort Lauderdale, a project now seeking registration to sell in New York, sales director Dan Teixeira told The Real Deal.
Miami-based Fort Partners, led by Nadim Ashi, is developing the 130-room hotel and 90-unit project. Fort Partners launched the project with an in-house sales team about a year ago, but brought on Douglas Elliman officially at the 2016 Fort Lauderdale International Boat Show last weekend.
Teixeira said the developer has been focused on the Surf Club Four Seasons, which is currently under construction in Surfside.
The 22-story Fort Lauderdale development, slated to rise at 525 North Fort Lauderdale Beach Boulevard, has about a dozen reservations from buyers in the Northeast, South Florida and other countries including Israel. South Florida projects that have already secured registration in New York include 1 Hotel & Homes and Turnberry Ocean Club.
Teixeira, who handled sales for the Ritz-Carlton Fort Lauderdale in 2008, isn’t worried about the overall slowdown in sales, and told TRD that buyers have been waiting for a project like the Four Seasons. Fort Lauderdale Beach projects include Paramount Fort Lauderdale and the Gale Hotel & Residences, where sales have also slowed.
“Fort Lauderdale has a very high hurdle to overcome when developments are approved, which is a big advantage because we are the only new branded development going up in the Las Olas beach area,” he said.
Residences will range in price from nearly to $1 million to $15 million, and in size from about 1,000 square feet to 7,000 square feet. Three of the 90 units will be larger, two-story condos with 20-foot ceilings. Some units will include the option of being managed by the Four Seasons. The residential component is valued at $350 million, Teixeira said.
The sales gallery overlooks the construction site, which crews cleared last year. The sales center was built out in a penthouse on the 25th floor of the Fort Lauderdale Beach Hilton Resort, according to Teixeira. Construction is slated to begin mid-2017 and the project will be delivered within two years.
Designed by architect Kobi Karp and interior designer Tara Bernard, the Four Seasons will have a resort-style pool, fitness center, beach butlers and other services, and a third floor dedicated to residents and their guests.
Fort Partners bought the entire 1.8-acre block from Dev Motwani’s Merrimac Ventures in 2015.