By Brian Bandell
The Pure Residences, a condo-hotel a few blocks from the ocean in Pompano Beach, has launched sales.
The 187-unit project by Montreal-based GCA Immobilier, would be located on the 1-acre site at 3300 S.E. 1st Street. The 17-story building would total 283,132 square feet and include a gym and a pool deck with a coffee shop and green terrace.
Prices start at $223,000 for 455 square feet and reach $860,000 for 860 square feet in penthouses.
“Throughout the past several years, we have had countless clients wishing to purchase an affordable condo with ocean views, in a walkable area with no rental restrictions,” said Jonathan Howard, a realtor associate with Douglas Elliman who has listings in Pure Residences. “That is very hard to come by, so we decided to bring it to the market ourselves, teaming up with a developer who has 35 years experience and is working with the City and CRA to redevelop this prime pocket of Pompano Beach.”
The developer has required 30 percent deposits, which is less than the typical 50 percent down required for Miami condos. That includes 10 percent at signing, 10 percent at ground breaking and 10 percent when construction reaches the first floor.
Monthly condo fees will be about 91 cents per square foot.
Since this would be a hotel condo, unit owners could not stay in their rooms for more than 30 consecutive days and no more than 180 days per year. A hotel management company would be responsible for renting out all the units. The units will come fully furnished.
The project website does not list a hotel management company.
The developer plans to begin construction in summer 2017 and complete the project in late Read more>>