Ft. Lauderdale’s Ultra-Luxury Homes: $39.99 Million Magic

Ft. Lauderdale's ultra-luxury home market thrives, driven by high-net-worth buyers. Waterfront estates with yacht dockage are key, with prices reaching $49.99M+. Demand surpasses supply. Waterfront properties are a must.

If there is a magic number in the “Venice of America,” it’s clearly $39.99 million.

Ft Lauderdale’s Luxury Market

The record for Ft Lauderdale’s most pricey home sale was established just in 2015, when sponsor Donald Sussman marketed his waterfront estate at 5 Harborage Island for $70 million. Absolutely nothing presently noted opponents that figure, yet Carroll says need for ultra-luxury properties remains strong, driven by high-net-worth buyers that view Ft Lauderdale as a loved one deal compared to Palm Beach or Miami Beach (where the median cost of deluxe homes is $17.2 million and $21.5 million specifically).

Fort Lauderdale “allows you to have bigger estate-type properties and more land due to the fact that Hand Coastline and Miami have been actually short on ultra-luxury inventory,” stated Carroll, whose team currently surpassed $850 million in completed sales this year– defeating their COVID movement height in 2021.

Waterfront Features & High-End Amenities

To get to the upper cost ranges of Ft Lauderdale’s home listings, a few points are a must: water on at the very least two sides (a peninsula even better) and the ability to dock a yacht of considerable length alongside the home.

Upstairs, there is a top-floor lounge that’s all about views, while downstairs an infinity-edge swimming pool, a beachfront terrace and an exclusive dock set the scene. It’s asking $45 million with Amy Woodworker of duPont Pc registry Realty.

These are the defining features of Fort Lauderdale’s most recent crop of ultra-luxury homes, where top listings float as high as $49 million. A new contender at $65 million is being available in November, claimed Chad Carroll, a broker with Compass understood for deluxe listings in Miami and Palm Beach, who is currently marketing two of Ft Lauderdale’s most costly homes, at $39 million each.

Exclusive Properties on the Market

Across the island, No. 84 inhabits the island’s easternmost factor with 300 feet of waterfront offering sweeping Intracoastal views. The three-level home is dressed up with soaring ceilings, custom-made storage rooms, clever home modern technology– in addition to four fireplaces, six wet bars and a commercial-grade lift.

Currently, the most costly single-family on the marketplace is 516 Mola Ave., which is asking $49.99 million. Situated on a personal peninsula as soon as owned by the late Hit Video magnate Wayne Huizenga, it’s a recently built, 10,000-square-foot spread made by engineer Max Strang. The home has 740 feet of waterside on three sides– sufficient to easily dock a 150- to 200-foot private yacht, stated listing broker Tim Elmes of Compass.

It’s a 15,000-square-foot “resort-style home” with eight ensuite bed rooms, including two primary collections (one completed in unusual Fijian stone).” Price points have enhanced substantially over the last two years,” Carroll claimed. Presently, the priciest single-family on the market is 516 Mola Ave., which is asking $49.99 million. It’s asking $42.5 million.

The home’s cantilever design makes it show up to float over the water. It likewise consists of a pickleball court, a cinema, different guest quarters and a nearby deeded whole lot that provides barrier from neighboring residential or commercial properties or the alternative to construct an added residence, Elmes said.

“Price points have raised significantly over the last two years,” Carroll said. “The wealth migration has been enormous. Individuals are physically transferring their families and moving here, so they desire something similar to what they’re accustomed to in The golden state, New York and Connecticut.”

Design and Lifestyle

Ideally, your home needs to be freshly developed (or renovated), with area customized for holding huge events and waterside soirées. Exclusive pickleball courts, an auto collector’s garage, also a two-story flat display visible to sailors going by– all good touches that can push the asking price higher.

The residential property consists of 250 feet of deep-water frontage– adequate to accommodate a substantial luxury yacht– and includes a 23-foot, two-story television screen “so huge you can see it from the Intracoastal if the shades are up,” Elmes, the listing representative, stated.

Market Dynamics and Trends

The median sale price of a Fort Lauderdale deluxe home (specified as the top 10% by rate) leapt 20% year-over-year in the third quarter to $3.65 million, according to Miller Samuel and Douglas Elliman Realty. And ultra-luxury supply is finally catching up: Nineteen single-family homes valued at $10 million or greater struck the Broward Area market in September– compared to none a year prior to.

If there is a magic number in the “Venice of America,” it’s plainly $39.99 million. That’s additionally what 1845 SE 7th St. is asking. Planted simply across the water from 1 Isla Bahia Drive, it’s a three-story beachfront estate with a roof deck ahead, 7 bed rooms and extensive sights of the Intracoastal.

Establish on a 343-foot point on the island’s western terminus, the home supplies 170 feet of protected deep-water dockage and access to a personal marina and beach, “best for yacht lovers,” the listing with Compass’s Sheryl Hodor cooed. It’s asking $42.5 million.

It’s a 15,000-square-foot “resort-style home” with eight ensuite bed rooms, including 2 key collections (one ended up in rare Fijian rock). The residential property also includes 2 pools, two warm bathtubs, an outdoor amphitheater and 300 feet of beachfront.

Seconds away by watercraft, or 10 minutes by car is 1400 West Lake Drive, which share its neighbor’s rate tag. Presently under construction, it’s shaping right into a 10,400-square-foot, three-story residence, on 250 feet of waterfront that can hold several boats.