Real Estate Notebook: Condo Supply Dwindling in Las Olas Condos

Only about 115 downtown Las Olas Condos built during the housing boom remain unsold, according to a report from the consulting firm.


Fort Lauderdale, FL -- (SBWIRE) -- 01/27/2014 -- From 2003 through the third quarter of 2013, more than 3,310 units have traded hands for nearly $1.27 billion, said. The firm includes the island of Palm Beach in the downtown West Palm Beach market.

The dwindling supply is why builders are launching a handful of projects in the area. Still, developers have been slow to embrace the market because demand from international buyers isn't as strong as in Broward and Miami-Dade counties, says Irena Sposato, principal at

Las Olas Condos For Sale with MLS listings. Las Olas Boulevard is known as the premier place to live or visit in Fort Lauderdale. Las Olas Blvd. has always been Fort Lauderdale's most charming thoroughfare and is at the forefront of everything from fashion boutiques and art galleries, to memorable restaurants, sidewalk cafes and clubs. Las Olas Boulevard is at the heart of downtown Fort Lauderdale with the fabulous New River coursing along nearby with its daily parade of majestic boats. Within a short walk are the Broward Center for the Performing Arts, Riverwalk and the Museum of Art. Luxury Condominiums have been germinating on both sides of the New River for the last few years. Links below include Las Olas Condos for sale.

The Condos of Las Olas Blvd are known throughout the world as one of the finest addresses in Fort Lauderdale. Downtown Fort Lauderdale is the new place to live and play, with only a short hop to the pristine beach. Nearby Las Olas Blvd. resides some of the most luxurious condos in Fort Lauderdale. Most Notable are The River House, Las Olas Beach Club, Las Olas Grand, 350 Las Olas Place, The Water Garden, Symphony, Waverly and Nu River Landing. Each one these Luxury condos offer wonderful views of the Intracoastal Waterway, New River, Ocean and the City Lights of Fort Lauderdale

Fucci, chief executive of One World Properties, has scheduled a series of workshops during the next six months promoting the Fort Lauderdale condominium market to international buyers. Fucci will meet with brokers and buyers in Sao Paola, Rio de Janeiro, Buenos Aires, Stockholm, Moscow and other locales.

Fucci said her goal is to tout the revival of the Las Olas Condos Fort Lauderdale beach and show buyers how much less expensive it is to buy there than in Miami.

For instance, condo-hotel units at the new Las Olas Condos Fort Lauderdale Beach Residences are selling for about $850 a square foot – roughly half the price in Miami. "That's a big value difference," Fucci said.

One World is heading sales and marketing at the Conrad, formerly the Trump International Hotel and Tower. A group that owns the Hilton Fort Lauderdale Beach Resort recently paid $115 million for the former Trump property at 551 N. Fort Lauderdale Beach Boulevard.

Fucci's firm also will market and sell the Paramount Fort Lauderdale Beach – the site of the former Howard Johnson's. Prices in the 94-unit luxury condo start at $1 million.

Plantation building wins TOBY award

The Balfour Beatty Center in Plantation won The Outstanding Building of the Year award from the Building Owners and Managers Association of Fort Lauderdale/Palm Beaches.

The 80,000-square-foot Balfour Beatty was recognized in the under-100,000-square-foot category.

Balfour Beatty Construction Co. and Solstice, an insurance provider, are the largest tenants in the 13-year-old building. It's owned by TA Realty Associates and managed by Pointe Group Advisors.

McIntosh and Berger are the top-producing agents from this brokerage business. Micheal Sposato commented, “We are extremely pleased with the completion of this closing. This is a great milestone for RE/MAX Consultants. We are well positioned to move forward with our business and will continue to provide our clients with the best service in the industry. RE/MAX Consultants has had much success and local support, our clients have made this possible for us and we look forward to continuing to provide our services to new clients.”

A representative of RE/MAX Consultants Irena Sposato (Broker Associate) has detailed the specifications of the house in question. This 5,995 square foot home, has five bedrooms and 5.5 bathrooms and a two-car garage. The home has pristine finishings consisting of luxury kitchen, marble, wood floors, swimming pool, hot tub, and is located on 200’+ of Deep water with ocean access and dockage.

Real Living, a real estate company, opened recently on Las Olas Boulevard in Fort Lauderdale.

About Las Olas Condos
Las Olas is located in Fort Lauderdale, the area boasts, a vast array of shopping, unique architecture, dining, nightlife, and the Beach. Las Olas is home to 10 major international art galleries, 2 museums and over 65 shops. The subject property is situated in this area giving our clients the ability to walk and enjoy all of the features of Fort Lauderdale.

RE/MAX Consultants is a full service real estate brokerage and business located in Florida. Located in Broward County, the services offered by span the entire Southeast Florida region. for more details visit