A developer proposes a 20-story boutique condo tower near Fort Lauderdale’s waterfront, amid a surge in South Florida planned projects.
New York-based Moore Group, led by Gareth and John Moore, wants to build the 38-unit Amalfi on a 0.8-acre site at 2317-2237 North Ocean Boulevard, according to an application filed to the city last month.
Designed by Kobi Karp, condo units at Amalfi would range from 2,632 square feet to 3,762 square feet.
Moore Group, through an affiliate, assembled the five-lot site for $5.5 million in several deals in 2021 and 2022, records show. The site consists of a combined 13 apartments in a one-story apartment building and a pair of two-story apartment buildings, as well as two single-family homes.
South Florida’s luxury condo market has remained resilient from the overarching real estate slump that’s taken hold nationwide as interest rates have risen. Condo projects in the tri-county region have continued to score construction financing, and sales have flowed.
This month, the Pérez family’s Related, the Toledano family’s BH Group and billionaire investor Teddy Sagi scored a $400 million construction loan for the 10-story, 50-unit Residences at Six Fisher Island in Miami Beach’s exclusive Fisher Island. Chicago-based Wanxiang America is a partner on the project.
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In Miami’s Edgewater, Vertical Developments and Urban Network Capital Group are partnering with luxury fashion and media company Elle to brand a 25-story, 180-unit condo project at 3618 Northeast Fifth Avenue.
In Fort Lauderdale, Heafey Group landed an $80 million refinancing of its loan on the 24-story Conrad Fort Lauderdale Beach condo-hotel at 515 North Fort Lauderdale Beach Boulevard. The tower, which opened in 2017, consists of 290 suites, condos and condo-hotel units.