Fortune International Group, led by Edgardo Defortuna, has acquired 4.61 acres of waterfront land in Pompano Beach, Fla., with plans to construct a pair of high-end condominiums on the site. The property is a combination of two adjacent parcels at 1380 South Ocean Blvd., a rarity for the area featuring 500 total feet of waterfrontage and coveted direct access to the beach as well as Biscayne Bay via the Intracoastal Waterway. Fortune International Group purchased the site from Lionheart Capital for $27.5 million.
“The sheer fact that there are so few waterfront sites of this magnitude available anywhere along the South Florida coastline -- from South Beach to Palm Beach -- makes this an extremely appealing opportunity for homebuyers,” continued Defortuna. “Furthermore, residents are going to have the best of both worlds: the ability to put their boat in the water, or enjoy a day on the beach.”
Plans for the project are expected to be unveiled in the first half of 2021. A 30-story tower is approved for the site on the ocean and a 12-story building on the Intracoastal. The complex will be comprised of 239 residences and the property will feature a private marina and shared beachfront amenities.
“On the heels of our success at Auberge, which is located just a few minutes south of this site, we plan on bringing a world-class project to Pompano Beach -- one that will offer a very unique lifestyle for the benefit of local residents as well as those who are relocating to South Florida, such as Northeast and Canadian buyers,” said Edgardo Defortuna, President and CEO of Fortune International Group.
