W Ft. Lauderdale Condo Hotel

Oceanfront Units From $690,000

May 21, 2015

Hello.  Joel Greene here from Condo Hotel Center.

My kids have just a couple more weeks of school, which means summer is just around the corner.  We haven’t decided yet how we’ll spend our vacation this year.

Last summer my wife and I had an opportunity to go to Italy for 10 days.  We loved seeing the sights of Rome and visiting the museums of Florence.  But our hands-down favorite city in Italy was Venice with its canals and singing gondoliers.  It was so unique and so scenic.

Jackie and I enjoying a scenic gondola ride in Venice.

The property I have for you today is a luxurious condo hotel in a city often called the “Venice of America.”  In case you didn’t know, that’s Fort Lauderdale’s claim to fame.  The city, which is just a few miles north of Miami, has 300-plus miles of Intracoastal Waterway and canals.  It is also considered the yachting capital of the world.

If you love the water, but Venice, Italy is a little too far for a second home, then you might enjoy hearing about today’s property in the Venice of America.

W. Fort Lauderdale

Located on the exciting Fort Lauderdale strip and just across the street from 315 linear feet of white sandy beach, W Ft. Lauderdale consists of two connected 23-story buildings.  One building is a 346-room hotel and the other has 171 one- and two-bedroom condo residences.  A parking garage is conveniently located on the first four levels.

The building on the left has residential condos.  The one on the right has hotel rooms.

The condo residences are currently available for purchase.  They can be a primary home, a second home or placed in the hotel’s rental program to generate revenue.

W Ft. Lauderdale has a full complement of amenities:

• Wet East®, a heated swimming pool oasis with oceanfront views
• Wet West®, a private VIP salt water pool oasis
• Private cabanas with service from the Wet® Bar and Grille
• Fitness center
• Bliss® Spa, a full-service spa
• Steak 954, a Steven Starr gourmet oceanfront restaurant
• Living Room, an ocean view lounge for cocktails and socializing

The pool and spacious sun deck overlook the ocean.

Additionally, residents have access to all the services provided by the hotel including:

• Whatever/Whenever® concierge service
• Valet parking and self-parking
• Use of all hotel amenities, with resident signing privileges

The fitness center is outfitted with all the latest exercise machines and equipment.

Property History

W Ft. Lauderdale was built in 2009.  So why are we offering the condos today?  Here’s the back story.

In late 2004 W Ft. Lauderdale began to pre-sell the hottest new condo hotel in the Ft. Lauderdale market.  All 171 of the original condo hotel units were under contract at price ranges of $975,000 to over $1.9 million.  I well remember how fast they sold because I had several buyers who hesitated and missed out.

Built in 2004, W sold out in months. But the market crashed and most buyers never closed.

However, before construction was completed, the South Florida real estate market crashed. The original developer was only able to close the sale on 24 units.  The remaining unsold units were taken off the market and added to the hotel’s inventory of available rooms.

Flash forward to July 2014 and The Related Group purchased the W Fort Lauderdale for $90 million.  The Related Group is America’s leading developer responsible for many residential developments that have dramatically changed South Florida’s urban landscape.  They announced plans for an extensive renovation for an undisclosed “tens of millions of dollars” to be orchestrated by the New York City design firm Meyer Davis Studio.

Contemporary décor and a relaxed atmosphere define the newly designed bar and lounge.

Currently a four-star hotel, W Ft. Lauderdale may reach a five-star level after the renovation.  In addition to a makeover of all the common areas and amenities, the individual condominium units will be updated and furnished.

The new owners purchased W Ft. Lauderdale for $90 million and are giving it a full makeover.

Condo Features

The condos at W Fort Lauderdale will have magnificent floor-to-ceiling windows and balconies offering spectacular views of the Intracoastal Waterway.

Private balconies offer sweeping views of the Intracoastal Waterway.

The kitchens will feature Italian-designed cabinetry and designer stone counter tops.

Master baths will have designer vanity top and fixtures, premium spa tub and separate shower.

As part of the W’s makeover, the individual condos will be newly and completely furnished.  They’ll come with appliances, entertainment system, TVs, all furniture, a Signature W Hotels® bed, upscale fixtures and designer accessories.

The Ft. Lauderdale Strip

W Fort Lauderdale is located in one of the world’s most vibrant districts on the Ft. Lauderdale Strip.  The W Ft. Lauderdale is just minutes to downtown Ft. Lauderdale and I-95.

It is near the city’s vibrant cultural and arts district, galleries, fine arts museums and performing arts venues showcasing stellar performances of music, dance and drama.

Shopping and entertainment opportunities abound: upscale boutiques, restaurants, lounges, movie theaters and the famed Las Olas Boulevard.  Also nearby are numerous high-end shopping centers and outlet malls.

W Ft. Lauderdale is minutes from Port Everglades, one of the world’s largest cruise ship ports.

The area’s biggest attraction though is its 23 miles of golden beaches with exceptional deep sea fishing, yachting, snorkeling and diving.  It is also near Port Everglades, one of the top three cruise ship ports in the world and only 10 minutes to the Fort Lauderdale International Airport.

Rental Program Managed by Starwood Hotels

If you’ll be using your condo as a second home, you’ll have the option of placing it in the hotel’s rental program when you’re not there.  The revenue it generates could help offset the costs of ownership.

The program will be operated by Starwood Hotels & Resorts Worldwide, Inc., the largest hotel management and hotel marketing company in the world, currently operating over 1,200 properties.

The W’s new porte cochere welcomes guests to a grand entrance.

Also, it’s worth mentioning that the W hotel building only has hotel room-sized units.  It does not have any one- or two-bedroom units, so your condo won’t compete with the hotel rooms.  It will instead be rented to hotel guests who want more space.

All of the common areas including this grand lobby are being updated.

Finally, prices at W Ft. Lauderdale average $850 per sq. ft.  By comparison, the W South Beach in Miami Beach has purchase prices currently averaging $3,000 per sq. ft.  Which do you think has more potential future appreciation?

You’re just steps from the beach when you live at W Ft. Lauderdale.

First Release Prices

The condos at W Ft. Lauderdale range in size from 804 sq. ft. to 1,463 sq. ft.  They are one- and two-bedroom residences.

Views to the west overlook the Intracoastal Waterway.

As these condos have just been put on the market today and haven’t been publicized yet, prices are at first tier level.  They range from $690,000 to $1,350,000.

Want to know more details?  Just request my W Ft. Lauderdale data sheet below.

Send me the W Ft. Lauderdale data sheet.

The Venice of America

I mentioned at the top that Ft. Lauderdale is called “The Venice of America.”

Here are some stats to further illustrate why.  Ft. Lauderdale has:

• 300+ miles of inland waterways
• 50,000 registered yachts
• 1,500 mega-yachts visit each year
• 4 million passengers per year cruise out of Port Everglades
• Home to the 2 largest cruise ships in the world, capacity 5,400 passengers each
• Hosts the world’s largest annual boat show showcasing $4 billion in boats and marine products

I hope if you’re into boating or just want a second home in Florida along the beach that you’ll consider W Ft. Lauderdale.

W Ft. Lauderdale offers oceanfront luxury living.

Call me if you’d like to tour the development.  Or let me know if there’s some other property that floats your boat.  It’d my pleasure to assist you.

Have a great day!

Joel Greene
Licensed Real Estate Broker
Condo Hotel Center
1368 NW 165th Ave.
Pembroke Pines, FL 33028
(954) 450-1929
Joel@CondoHotelCenter.com
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Although Condo Hotel Center believes the information contained in this data sheet to be accurate and complete, Condo Hotel Center can make no such guarantee. All features and descriptions are subject to change.

Please speak with your personal legal and financial advisors to determine whether this property is suitable for your objectives.