The prominent developer listed his One Ocean Penthouse for $20 million and went to contract on a $2.4 million residence at Auberge Beach Residences & Spa Fort Lauderdale.
The Related Group’s Chairman Jorge M. Pérez listed his One Ocean penthouse over the weekend for $20 million ($5,600 per square foot) and went to contract on a $2.4 million residence at Auberge Beach Residences & Spa Fort Lauderdale. The unit is a 1,800-square-foot oceanfront residence on the 15th floor of the Auberge property.
“We’re very proud of the neighborhood and value we created for Miami Beach, particularly South of Fifth,” says Pérez. “We started selling One Ocean in 2012 at $1,100 per square foot, which seems crazy today.”
Pérez says he sees value on the rise in Broward County, where new construction is on average priced 30 percent lower than in Miami-Dade County. He says, “To continue beachfront residential development north creates opportunities to build new neighborhoods and increased value for homeowners. All of South Florida is growing, not just South Beach.”
The developer has shifted his focus to areas North of Miami in recent years and just last month, Auberge logged Ft. Lauderdale’s highest-priced condo sales to United States buyers at $8.9 million and $7 million. The oceanfront enclave’s two towers are under construction, with the North tower 95 percent sold and the South tower close to 30 percent sold.
Pérez’s 7,500-square-foot, four-bedroom One Ocean residence joins Miami’s hottest penthouse trophy listings, including Faena for $60 million, Palazzo Del Sol (Fisher Island) for $35 million, One Thousand Museum for $49 million and Residences by Armani/Casa for $18 million.