Real Estate
Home›Real Estate›Residential›U.S. Development says Salato luxury condo project is 7…
U.S. Development says Salato luxury condo project is 70% sold
The 40-unit project at 305 Briny Avenue is priced from $2.4 million to $5.3 million, and U.S. Development reports more than 70% of units have been sold.
Commercial Observer profiles John Farina, CEO of U.S. Development, as the company highlights its Salato luxury condo project in Pompano Beach, Fla.
Farina says construction has been completed on the 40-unit development at 305 Briny Avenue near the shore, with more than 70% of the units already sold. He adds the residences are priced from $2.4 million to $5.3 million.
He attributes the project’s appeal to an intimate setup, including four semi-private elevators, 14-foot-deep terraces, and 20,000 square feet of amenities for the small number of units. Farina also points to services such as housekeeping with linen service, grocery pickup and stocking, spa and beauty treatments, fitness classes, personal training, and beach yoga.
In discussing demand, Farina says Pompano Beach was “the next shoe to drop” within South Florida between Boca Raton, Delray Beach, and Fort Lauderdale, and that the company saw an influx of buyers coming from the Miami market. He notes that absorption was not as high as during COVID times, but he says the company is pleased with performance versus other competition in the area.