Terrace of the Auberge Residence penthouse (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
UPDATED (6/26/17) A real estate boom is happening in Fort Lauderdale, Florida. Once a budget friendly, spring break town by the beach, just North of Miami, the area is experiencing a surge in growth with a string of new luxury hotels and residential buildings along the beach. While Millionaires Row is known for its stately waterfront mansions anchored by large yachts, the high-end resort industry is quickly staking its claim into one of the fastest moving markets in the United States.
A previous four-bedroom penthouse in the Auberge Beach Residence’s South Tower was sold for $8.9 million, which at the time set a new record in Fort Lauderdale, pushing out the now previous most expensive residence sold – the 2009 sale at The Ritz-Carlton Residences for $6.875 million. And now news comes in that a five-bedroom, two-story penthouse with 5,686 square feet, sprawling two levels and over 3,700 square feet of terrace space in the North Tower. just sold for $9.5 million. A new record breaker for Fort Lauderdale.
Living room of the Auberge Residence penthouse (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
The record-breaking penthouse boasts over 5,800 sq. ft. living space with an additional 3,970 sq. ft. of exterior living area including a private plunge pool. There are 4 bedrooms, 6 baths, plus a den and a private sun room with 270 degrees of panoramic views of Fort Lauderdale Beach and the city lights. The new owner of the South Tower Auberge penthouse is a mid-west manufacturing CEO who will be joining high profile neighbors including Miami Dolphin’s Dan Marino and philanthropist/author Annie Falk among others.
Standout features of the penthouse include; an expansive floorplan designed to appeal to extended multigenerational families, Floor-to-ceiling window walls overlooking the unmatched coastal setting, private terrace, that nearly doubles the property’s liveable space, complete with an array of outdoor dining and entertaining spaces, access to world-class, resort-style amenities that are curated by legendary luxury hospitality company Auberge Resorts Collection, including exclusive services at the signature Auberge Spa.
Dining room of the Auberge Residence Penthouse (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
The all-star development team behind Auberge Beach Residences & Spa Fort Lauderdale includes the two powerhouses who put Miami on the international luxury real estate map: The Related Group and Fortune International Group.
Once complete, the Auberge Beach Residences and Spa will be comprised of two beachfront towers on the site of the former Ireland’s Inn. The luxury project will include 171 condos, with spacious oceanfront terraces, gourmet kitchens, private elevators and floor-to-ceiling glass. Several of the Auberge Beach condominiums will also feature private pools on the wide balconies.
Penthouse bedroom at the Auberge (photo by Auberge Beach Residences & Spa Fort Lauderdale)
Amenities at Auberge Beach will include a world-class spa, multiple oceanfront swimming pools, a state-of-the-art fitness center and multiple restaurants. A beach club will give residents access to 450 feet of ocean frontage. The luxury development will also feature a single-level underground garage that uses a mechanized valet-only system capable of stacking 588 vehicles. Developers PRH Fairwinds, a new partnership between Related Group, Fortune International and Fairwinds Group, are aiming to bring a casual, yet sophisticated, vibe to Fort Lauderdale’s famed beachfront.
Golfing simulator lounge at the Auberge Residences (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
Andy Mitchell, CEO and President of The Fairwinds Group told me about his vision for the development, “No one has ever built something of this caliber at this price point in Fort Lauderdale on the beach, so we were blazing new territory. Our vision for Auberge Beach Residences included input from those in the community of Broward County. When we began development of this project in 2002, it started with feedback from the community about what they wanted to see in Fort Lauderdale and that vision is very much represented in what we are building.”
Theater at the Auberge Residences (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
“Fort Lauderdale is a very special market place and is especially unique to those that live here” he added, “The Ireland Family has lived in Fort Lauderdale for five generations, and with the collaboration of this amazing team between Related and Fortune International, there is a keen understanding of the essence of Fort Lauderdale and why it is loved by so many. Living in Fort Lauderdale truly provides its residences with a sense of community and belonging.”
Spa at Auberge Beach Residences & Spa Fort Lauderdale
I also spoke with Patrick Campbell, Vice President for Related Group and responsible for all phases of the development and he added, “We plan to open at the end of 2017. We have two towers and we started selling the North Tower and that is almost 90% sold. We just recently launched the South Tower and we are maintaining the same sales pace as we saw last year. We have 114 units in the building we recently launched and 57 in the first building. We currently have one penthouse left in the North Tower and we have two penthouses in the South Tower available. The Mitchell family and Ireland family have a long storied history with the site and operated a hotel there for over 50 years. What attracted us to develop a partnership is that site is unique in that its the only site in Fort Lauderdale that total almost 5 acres directly on the ocean. We feel this is by far the signature property in the area. Nobody can ever accumulate that much acreage in the area.”
Restaurant at Auberge Beach Residences & Spa Fort Lauderdale
“It’s been incredible to watch first-hand as Fort Lauderdale has grown up and transformed over the past several years.” says Mitchell. “It wasn’t always this way, but Fort Lauderdale is now the place to be – the real estate market is just heating up and there is a lot of demand for new construction right on the ocean. It’s interesting to think that our buyers, who are very affluent and sophisticated individuals that can live anywhere – Miami, South Beach, Sunny Isles, Palm Beach – are choosing to put down their roots in Fort Lauderdale. It speaks to what I’ve known for a long time, that this community is truly special and our beach-front location truly resonates.”
Driven out by the high land prices in Miami, there are numerous developments planned for the area including an Element by Westin Hotel, a nautically themed Conrad Resort (formerly the Trump Hotel land), Gale Boutique Hotel, W Hotel, Ritz Carlton and Four Seasons Hotel among others.
Aerial view of the Auberge (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)
Lobby of the Auberge (photo courtesy of Auberge Beach Residences & Spa Fort Lauderdale)