Sabbia Beach Condos
Pompano Beach, Florida – Fernbrook Florida, LLLP today closed on $45 million construction financing for its Sabbia Beach, the first ultra-luxury “toes-in-the-sand” beachfront residential development in Pompano Beach in almost a decade. The financing is provided by Ocean Bank, the largest independent state chartered commercial bank headquartered in Florida.
Pompano Beach, Florida — The $1 million, 2,500-square-foot sales gallery for Sabbia Beach, the first ultra-luxury “toes-in-the-sand” oceanfront residential development in Pompano Beach in almost a decade, was picked up and moved directly across the street with grace and ease at 4 a.m. on May 25. Reflecting developer Fernbrook Florida LLLP’s dedication to detail, the sales gallery was hoisted into the air, trailered and moved by Brownie Moving & Heavy Hauling to its new home across the street from where Sabbia Beach is being constructed. The sales gallery is now permanently located at 723 N. Ocean Blvd, Pompano Beach, Florida.
Now 60% sold, Sabbia Beach’s Groundbreaking Ceremony will be held in early May
With only 68 spacious residences complemented by an enviable array of luxurious features and amenities, the 19-story boutique condominium overlooking the ocean has triggered enormous interest from buyers near and far.
Sabbia Beach is selling at a rapid pace with sales averaging nearly 5 residences a month and is now 60% sold paving the way for an on-schedule groundbreaking in the 2nd quarter of this year.
Sabbia Beach is the first luxury oceanfront condominium built in nearly a decade on Pompano Beach, a city that has garnered attention lately as it launched a multi-phase renaissance of its waterfront and downtown districts. Pompano Beach Florida is increasingly seen as offering one last chance to be among the first to buy into an emerging community along South Florida’s Atlantic coastline.
This major milestone of converting reservations into contracts comes just months before the development’s groundbreaking, which will take place in first quarter 2016. Sabbia Beach is located at 730 N Ocean Blvd, Pompano Beach, FL 33062.
The project’s sales model follows a 35 percent deposit structure, which entails putting down a 20 percent deposit at contract and 15 percent deposit at groundbreaking.