Kolter Urban has closed $425.3 million in condo deals at its newly completed Selene Oceanfront Residences in Fort Lauderdale.\u00a0<\/p>\n
The developer finished the two-tower, 26-story, 194-unit condominium at 151 North Seabreeze Boulevard late last year and began closings in October, according to property records. So far, 168 deeds have recorded, totaling $425.3 million in sales.\u00a0<\/p>\n
Led by Bob Vail, Kolter Urban is the condo development division of Bobby Julien\u2019s Delray Beach-based Kolter Group.\u00a0<\/p>\n
The project is just shy of a decade in the making.\u00a0<\/p>\n
Kolter started acquiring the 2.6-acre site for the project in 2017, spending $34.4 million across several purchases. Kolter launched sales<\/a> for the towers in 2021 and secured a $240 million construction loan<\/a> from Wells Fargo in 2022. Designed by Kobi Karp Architects and interiors firm ID & Design International, the project was initially slated to finish in 2024.\u00a0<\/p>\n Selene\u2019s units range from two- to four-bedrooms that span between 2,300 and 5,300 square feet, according to a news release. The towers also have a few larger penthouse units. Amenities in the buildings include two pools, a fitness center, a business center, a theater, a gaming lounge and private dining space<\/a>.\u00a0<\/p>\n The most expensive closing in the towers so far was Beau Aero and Alfredo Martin\u2019s $12.2 million purchase of the 5,300-square-foot unit S2701, records show. That sale amounted to $2,300 per square foot. Beau Aero Martin founded a workwear company based in Columbia, Missouri.\u00a0<\/p>\n M. Michele Burns, the former CEO of Mercer and a member of the Goldman Sachs Board of Directors, bought unit S2702 for $10.7 million, according to property records.\u00a0<\/p>\n Twenty-two units remain to be sold, priced between $2.7 million and $11.7 million, a spokesperson confirmed.\u00a0<\/p>\n Selene is one of the latest completed projects in a packed pipeline of Broward County residential developments<\/a>.\u00a0<\/p>\n Long passed over by developers for the glitzier markets in Miami-Dade and Palm Beach County, as the region has boomed post-pandemic, developers have turned their gaze to Fort Lauderdale and Pompano Beach<\/a>. At least two dozen projects totaling more than 3,900 units are in the works, led by some of South Florida\u2019s biggest names: Jorge P\u00e9rez, Edgardo Defortuna, Isaac Toledano and Miki Naftali, among others.\u00a0<\/p>\n