Long lurking in Miami’s shadow, Fort Lauderdale or Broward County is becoming a hot commodity as it is looking like a bargain to buyers priced out of Miami. For example: Two-bedroom, 2,000-square-foot condos at the Four Seasons in Fort Lauderdale are going for under $3 million, while two-bedroom, 2,500-square foot units at the Four Seasons Surf Club in Miami Beach have been selling for $6 million.
Land is cheaper on essentially the same beach, and developments, as a result, are getting a boost. Nearly half of the 684 units under construction in a dozen new Fort Lauderdale condo buildings have gone under contract, according to a report by ISG World. Those homes are being offered for 40 percent less than new units in Miami Beach and are being scooped up by both foreigners and locals alike.
The 171-unit Auberge will be the only to offer direct access to the sand (with 450 feet of frontage). Already, 48 of 57 units in the north tower are under contract; sales on a south tower launched in early November.