MIAMI—Getting deposits on condos is one thing. Converting them to sales is quite another. Gale Boutique Hotel & Residences has done both.
South Florida-based Newgard Development Group's condominium and hotel project underway at 2900 Riomar Street and 410 Bayshore Drive in Fort Lauderdale Beach converted its reservations to contracts in 30 days. Construction of the $120 million project is expected to begin later this fall and wrap up in early 2017.
"The Gale brand is finding a warm welcome in the Fort Lauderdale market,” says Harvey Hernandez, president and CEO of Newgard. The Gale's 12-story residential tower will offer 129 units with resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. Preconstruction prices range from the mid-$400,000s to more than $1.2 million.
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