Gale Boutique Hotel & Residences, South Florida-based Newgard Development Group’s new condominium and hotel project underway at 2900 Riomar Street and 410 Bayshore Drive in Fort Lauderdale Beach, has successfully converted its reservations to contracts in just 30 days as preparations get underway in advance of the project’s groundbreaking. 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. The overwhelming response we’ve received so far is a testament to the unique appeal of living in a boutique building in one of the area’s most desirable beach communities,” said Harvey Hernandez, president and CEO of Newgard Development Group. “We look forward to seeing our sales momentum continue as we get closer to our groundbreaking in the weeks ahead.”
The Gale’s newly-built 12-story residential tower will offer 129 units, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive 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. Units will range in size from 850 to nearly 2,200 square feet.
Gale Boutique Hotel & Residences1Contracts were mailed out to buyers, who have primarily hailed from the United States – mostly local buyers currently living in South Florida’s Broward County area – as well as foreign countries such as Canada and Brazil. The project’s sales model follows the 50 percent deposit structure that has been popularized during this cycle. Payments are staggered with 10 percent down at varying stages, from reservation all the way to topping off.
“The Gale is seeing exceptional interest from buyers looking for both second homes and vacation properties, as well as end-users who want to live in a prime Fort Lauderdale location full time,” said Daniel de la Vega, president of ONE Sotheby’s International Realty, the project’s exclusive sales and marketing brokerage. “We’re seeing buyers from Florida, as well as the Northeast, Canada and Latin America, which promises a diverse community that reflects the population of South Florida.”
Gale Boutique Hotel & Residences2Residence features include gourmet Italian kitchens, state-of-the-art built-in appliances, designer fixtures and Italian cabinetry, spa-style bathrooms, customized flooring and walls, and spacious walk-in closets. Each unit will come equipped with floor-to-ceiling, impact-resistant glass doors and ample balcony space.
Residents and guests will enjoy exceptional services provided by the Gale’s luxury boutique hotel component, which will occupy a group of buildings that formerly housed the iconic Escape Hotel originally designed by Theo A. Meyer and Lester Avery in 1949. A top-to-bottom restoration of the landmark property will make way for 96 hotel rooms and suites sporting stylish interiors, sleek furnishings, and contemporary design elements inspired by Gale South Beach, situated just one block from the beach.
Managing the project’s hotel component will be Menin Hospitality, a Miami Beach-based luxury boutique hospitality management company whose South Florida hotel portfolio includes Gale South Beach, Kaskades Suites at Gale South Beach, Sanctuary South Beach and The Bentley South Beach.
Amenities include a rooftop sunset lounge, private lobby, fully equipped fitness center and spa, concierge services, 24-hour valet parking and multiple resort-style pools. Additional space set aside for street-level retail will serve as an amenity for residents, hotel guests and the surrounding neighborhood. Hotel services include room service, housekeeping, pool-side towel service, laundry, catering, and car services. Owners interested in renting out their home while not in use may opt to do so directly or to include their unit in the hotel’s Flexible Rental Program.