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Fortune International Group picks up Pompano waterfront land for $27.5 million

by Kerrie Kennedy

Fortune International Group picks up Pompano waterfront land for $27.5 million

Miami luxury developer Fortune International Group,  whose most recent credits include the Herzog & de Meuron-created Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach (recent winner of Miami Agents’ Choice Best New Development Miami) and Auberge Beach Residences and Spam has acquired 4.61 acres of waterfront land in Pompano Beach, with plans to construct a pair of high-end condominiums on the site. 

A combination of two adjacent parcels at 1380 South Ocean Boulevard, the property features 500 total feet of water frontage, with direct access to the beach as well as Biscayne Bay via the Intracoastal Waterway. 

Fortune International Group purchased the site from Lionheart Capital for $27.5 million.

Plans for the project are expected to be unveiled in the first half of 2021.  So far, a 30-story building on the ocean and a 12-story building on the Intracoastal — a combined total f 239 residences — have been approved for the site. The property will also feature a private marina and shared beachfront amenities.   

“On the heels of our success at Auberge, which is located just a few minutes south of this site, we plan on bringing a world-class project to Pompano Beach — one that will offer a very unique lifestyle for the benefit of local residents as well as those who are relocating to South Florida, such as Northeast and Canadian buyers,” said  Fortune International Group CEO and President Edgardo Defortuna in a press release.

“The sheer fact that there are so few waterfront sites of this magnitude available anywhere along the South Florida coastline — from South Beach to Palm Beach — makes this an extremely appealing opportunity for homebuyers,” continued Defortuna.  “Furthermore, residents are going to have the best of both worlds: the ability to put their boat in the water, or enjoy a day on the beach.”

 

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