With the Fort Lauderdale International Boat Show in full swing this week, South Florida developers WellDuo, Vertical Developments and GCF Development are teaming up with Italian yacht maker Riva to launch sales for Riva Residenze, a luxury branded condominium along the Intracoastal Waterway.
Plans for South Florida’s latest branded condos include a 20-story Arquitectonica-designed tower with 36 residences situated at 3019 Harbor Drive in Fort Lauderdale. With interior design led by Giuseppina Arena, who brings an over 18-year focus on yacht interiors to the project, residences will incorporate Riva-inspired design cues, including the brand's signature combination of mahogany, steel, and the color aquamarine. Units span between 2,000 square feet to 6,000 square feet, while two planned penthouses are set to exceed 8,000 square feet.
Sales at Riva Residenze kicked off Wednesday to coincide with the start of the boat show. Prices begin at $3.5 million, with Fortune Development Sales serving as the exclusive sales and marketing group for the project.
South Florida is in the midst of a branded real estate boom. Car companies, hospitality groups, designer brands and studios, and even a Michelin-starred chef have all partnered with developers across the region to build luxury real estate. Developers view the partnerships as a useful sales tool as brands become increasingly involved in providing consumers a unique lifestyle.
A longtime Florida broker, Douglas Rill of Century 21 America's Choice in West Palm Beach, previously told CoStar News in an interview that, "Luxury buyers are attracted to brands that they know and love," adding that "When you have a brand that's good and has value, it can help you sell anything, including condos."
Yacht capital
With over 1,000 participating brands and 1,300 boats on display, the Fort Lauderdale boat show is billed to be the largest in-water boat show in the world, according to the event website. The region's 300 miles of navigable waterways have led maritime businesses, local tourism boards, and city leaders to promote Fort Lauderdale as the yachting capital of the world.
Prices for Riva superyachts are not typically disclosed, although listings from online brokerage Yachtworld range from $7.5 million to just under $9 million. The top-end models can exceed $15 million. The Riva line is owned by Italian shipbuilder Ferretti Group.
Although Riva Residenze’s developers are offering a land-based product, the team expects to draw at least some attention from boat show visitors, with Fernando de Nuñez y Lugones, CEO of Vertical Developments, telling CoStar News in an emailed statement that unveiling the new condo at the start of "the crown jewel of international yachting exhibitions" was intentional.
The show "offers the perfect setting to introduce the iconic Riva lifestyle to land. We're confident this exclusive debut, set against Fort Lauderdale's vibrant waterfront backdrop, will strongly resonate with discerning attendees and set the stage for an exceptional launch," Lugones said.
When the new units open sometime in 2027, future owners can expect to dock their yachts on the seven-slip marina accommodating boats as large as 65 feet. The project is designed to have 200 linear feet of waterfront access.
The tower will include a 3,400-square-foot lounge with a gourmet catering kitchen, a 50-foot rooftop infinity pool, a fitness center with a yoga and pilates studio, and a wellness center equipped with a spa, lap pool, jacuzzi and sauna, restoration lounge, and private treatment space. Residents will also be able to reserve yacht-inspired cabin suites. A surf room with outdoor shower and wet/dry storage for paddleboards, kayaks, and similar gear is also planned.
