General Info (or See a list of New Developments)

Condo-tels

Condo-tels are a relatively new concept brought over from Europe. Condo-tels are part condo part hotel. The buildings are run by traditional hotel companies such as Hilton and the W but individual units are sold to buyers and are fully owned by them. The owners put their unit in the rental pool which is fully managed by the hotel. The hotel handles all reservations, rate setting, advertising, maid service, etc. At the end of each month the hotel cuts a check to the owner for amount generated by their room minus a fee or minus a percentage. Owners are allowed to use their room anywhere from 60 days a year (usually 30 in the summer and 30 in the winter) to as much as they want depending on the building.  The concept helps owners recoup some of the cost of having a second home condo while not having to deal with any of the hassle of renting it out.  Units come fully furnished including TV’s, dishes, towels, and linens. 

Most of the new high rise buildings on the beach in Fort Lauderdale are Condo-tels.  This is because the City of Fort Lauderdale wanted more luxury high-end hotel rooms available in the city to draw more conventions and other events.  The developers wanted to build condos.  So they compromised and the Fort Lauderdale condo-tel was born.  Current Fort Lauderdale condo-tel projects include Trump International, the W, the St Regis, the Atlantic, Q Club, and Il Lugano.  Units have gone under reservation very quickly but there are still a few available.  All are either just breaking ground or will be soon, except for the St Regis which is well on its way and the Atlantic which is already open.  There are some units in the Il Lugano (studios start at 303k) and the Atlantic under 900k but most of the other buildings are over the 1 million mark.

Condos

New condo projects are going up all over South Florida.  Although condos can be found just about everywhere Miami, Fort Lauderdale, Hollywood, Pompano Beach, Boca Raton, the Palm Beaches, Aventura, and Sunny Isles are some of the hot spots for new construction.  Most are high-rises of 15 stories to 40 stories.  In Fort Lauderdale downtown is the home of many of the new developments but a few projects on Las Olas and near the beach are happening.  Outside of Fort Lauderdale condo buildings are going up wherever the zoning will allow giving buyers a lot of options.  Every size, shape, color, and style imaginable is being tried but the modern look is definitely “in”.  Studios, 1, 2, and 3 bedrooms are all available ranging in size from 600 sq ft to about 3,000 sq ft.   Or if you prefer, massive multi-story penthouses can be found as high 10,000 sq ft.  Prices vary according from the mid-200’s to several million

Condo conversions are also becoming extremely popular.  A condo conversion is when an existing apartment building stops leasing the units, remodels, and becomes a condo only building.  These are a good choice if you do not want to wait for a new building to be built but still want the exterior, amenities, and unit to be shiny and new.  The other advantage is that they are usually less expensive than the new buildings.  New buildings are going for the ultra high-end market with large floor plans and top-of-the-line amenities while converted buildings work with the existing floor plans and common areas.

There of course a large number of existing condos to choose from that were built as early as the 1960’s.  Since this is the new construction page we will leave this discussion for the Local Communities page. 

Townhouses

If condos are not your cup of tea but you want a brand new home near the action then a townhouse is the way to go.  Townhouses are not a new concept but they have really taken off the last few years as land gets more and more scarce, and as people start moving back towards the urban centers. 

Most townhouses in South Florida are three stories, though a few are two, and ranging in complex size from 2 to 20 or more.  Most are between 3 and 6 units all sharing one or two common walls.  Some are setup like condos with homeowners associations collecting maintenance fees for upkeep of roofs, lawns, and maybe a community pool.  But more and more are sold as fee-simple, zero lot line homes where each owner is responsible for there own lot. 

Townhouses in South Florida are being built to fill the demand for new, larger homes, with lots of bathrooms and two car garages.  Large, modern homes are hard to find since original South Florida homes were built smaller usually ranging from 1000 to 2000 sq ft.  Plus townhouses are brand new with large walk-in closets, modern dual vanity bathrooms, Jacuzzi tubs, multiple in-suite bathrooms, hurricane impact windows, fire sprinkler systems, and other modern goodies.  Most townhouses are 2,500 to 3,300 sq ft under air (not including garages or balconies) spread across three floors.  Three bedroom homes are by far the most common but some two bedroom and four bedroom homes can also be found. 

Prices of townhouses are usually close to the same as single family homes in their neighborhoods, are much larger inside, though they have less of a yard outside.  For townhouses east of US 1 in Fort Lauderdale prices are ranging from $550,000 to over $900,000 on dry lots and over 1 million for waterfront.  Most are sold pre-construction, costing less, and allowing buyers to chose flooring, wall colors and closet interiors.  Townhouses are also starting to be built west of US 1 in areas like Lakeridge and Wilton Manors in the 400’s and up.