After selling out the 36-story, 462-unit Fontainebleau II condominium-hotel about six months before delivery is scheduled to begin, the developers have started selling Fontainebleau III Ocean Club, to be built on the south end of the property, adjacent to Fontainebleau II.
Fontainebleau III will have 311 condominium-hotel residences with views of the Atlantic Ocean, Miami Beach and the Fontainebleau Hilton grounds. Prices for these units range from $435,000 to more than $1.8 million. The furnished junior, one-bedroom and two-bedroom suites will range from 500 sf to 1,600 sf plus terraces.
Bruce Weiner, president of Turnberry Associates' Residential Division, is confident there is a market for another few hundred units on the same property. Fontainebleau II sold out "well in advance," he says, with other interested buyers remaining. "We left a lot of people kind of on the doorstep who were very interested," Weiner says. "We felt there's at least another 300 … buyers out there."
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