Paramount Fort Lauderdale Beach Pre Construction
I've been holding off on writing a post about the building site located at 700 N Fort Lauderdale Beach Boulevard since my last post all the way back in November of 2013. I was very hopeful that something fantastic would be built in place of the old Howard Johnsons. What's planned is absolutely astounding. The project has been named Paramount Fort Lauderdale Beach, and the renderings are magnificent.
Let me give you a few details I know about the property before I let you feast on the renderings.
Are you doing anything at 8am on February 23rd? No? Good, they're imploding the existing structure on the build site! I've never seen an implosion in person so I'll be there bright and early to witness that! (The implosion was cancelled due to noise and dust concerns, huge bummer) Here are some more bullet points:
- Originally the building had been approved for 145 units, it's been scaled down to 95 units, or 6 units per floor
- This is the only pre construction project I know requiring 30% down, most are requiring 50%
- Paramount Fort Lauderdale Beach is going to be a state of the art building with top of the line technology
- There will be "white glove" services that you would expect in a 5 star complex (including pool side drink service)
- Units are going to be very large. Square footage is set to range from 1,930 square feet up to 3,477 square feet
A couple of tidbits I know on the financial side of things
- 10% deposit at time of reservation
- 10% deposit required at time of contract (you have a 15 day rescission period at that time)
- 10% deposit required at groundbreaking
- $750 per square foot is the target sales price average for the building (direct ocean running higher, west views running lower)
- Maintenance fees are estimated to be between $0.70 and $0.80 per square foot
Current Structure (Former Howard Johnsons)
From drabulous to fabulous.... I give you renderings for the Paramount Fort Lauderdale Beach!
Reservations are filling up quickly. From what I understand 10% of the building has already been sold. I would expect sales to continue at a pretty fast pace. Paramount Fort Lauderdale Beach is not going to be like other projects on Fort Lauderdale Beach that are currently being marketed (namely The Conrad). The Paramount is going to be residence only, this is not a condo hotel project. This is going to be geared towards end users more than any other type of buyer profile. Luxury comes with a price tag, these units aren't cheap. However, I absolutely believe their worth it. Especially when you consider prices at the Las Olas Beach Club or Coconut Grove. The Paramount Fort Lauderdale Beach is going to be a new construction project, with a per square foot price tag comparable, and sometimes better than, existing older construction buildings. It's South Florida, by older I mean built after 2012!
If you'd like to have a full tour of Paramount Fort Lauderdale Beach give me a call or email me. Link to the PDF fact sheet is below.
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email email@example.com. I am a Realtor that works on Saturdays to accommodate those with busy schedules.
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Written By Casey Prindle