Developers recently completed two large condo projects, adding about 300 new units to the South Florida market.
Closings are underway at Jade Signature, a 57-story, 192-unit beachfront tower at 16901 Collins Avenue in Sunny Isles Beach. The building is 96 percent sold, according to a spokesperson for developer Edgardo Defortuna. Defortuna declined to provide the projected sellout amount in dollars.
Fortune International Group launched sales and construction in 2013 and the remaining units start at $4.8 million and 3,312 square feet. Penthouse units range from $14.2 million to $32.9 million. It’s the fourth Jade building Fortune has built.
Jade Signature was designed by Herzog & de Meuron with interiors by Pierre-Yves Rochon and Raymond Jungles landscaping. Buyers include Brazilian soccer pro Douglas Costa.
Developer Bradley Deckelbaum’s Premier Developers also recently delivered Riva, a 15-story, 100-unit condo development at 1180 North Federal Highway in Fort Lauderdale.
Ivan Ramirez, a vice president at One Sotheby’s International Realty, said the building is about 70 percent sold with a projected sellout of $135 million. Two-bedroom units start in the mid $700,000s and penthouses start at $2.29 million.
In August, Deckelbaum lowered the deposit requirement from 35 percent to 20 percent in a push to sell more units.
Condos come with boat slips, and range from more than 1,500 square feet to about 8,800 square feet.
Falkanger Snyder Martineau & Yates designed the development, which has have 8,000 square feet of commercial space on the ground floor, a 400-foot-long landscaped river walk, a water taxi, water sports center with a private dock, and a spa. Riva also includes a 40,000-square-foot club deck on the fourth floor with a 7,000-square-foot gym, a 2,500-square-foot club room, a 1,500-square-foot kitchen, private wine lockers, a dog park and a lap pool.
Madison Realty Capital provided a $65 million construction loan last year.