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Construction starts on 11-story Ft. Lauderdale condo following $10 million land purchase in 2015

Developer SobelCo has announced the groundbreaking of a 11-story condo project at 321 N. Birch in Ft. Lauderdale, with an overall retail value of at least $46 million.

Guests at the ceremony for the project marketed as 321 at Water’s Edge included City of Fort Lauderdale Mayor Jack Seiler, SobelCo chairman Samuel Sobel, president Jeffrey Sobel, and vice-president of residential development Tirso San Jose; Gus Rubio, COO, Douglas Elliman Florida, and Caprice Weber, executive vice-president and managing director of Douglas Elliman Development Marketing; and Michael Kaufman, CEO of contractor Kaufman Lynn. Fort Lauderdale city commissioners and local real estate brokers attended the event on Jan. 24.

The project with 23 residences is on a site with signage that indicated the least expensive units would sell for at least $2 million (while marketing materials assert that the starting price is $1.95 million.)

Property records indicate that 321 Birch LLC purchased the site in 2015 for $10 million and the land has an assessed value of $4,290,130.

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