MIAMI—Getting deposits on condos is one thing. Converting them to sales is quite another. Gale Boutique Hotel & Residences has done both.

South Florida-based Newgard Development Group's condominium and hotel project underway at 2900 Riomar Street and 410 Bayshore Drive in Fort Lauderdale Beach converted its reservations to contracts in 30 days. Construction of the $120 million project is expected to begin later this fall and wrap up in early 2017.

"The Gale brand is finding a warm welcome in the Fort Lauderdale market,” says Harvey Hernandez, president and CEO of Newgard. The Gale's 12-story residential tower will offer 129 units with resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. Preconstruction prices range from the mid-$400,000s to more than $1.2 million.

What's interesting about the Gale is that most of the buyers have been from the United States. In fact, most are local to the Broward County era. However, plenty of foreign buyers from Canada and Brazil are also in the mix of buyers who put 50% down on the condos with 10% payments staggered at various stages of the development.

"The Gale is seeing exceptional interest from buyers looking for both second homes and vacation properties, as well as end-users who want to live in a prime Fort Lauderdale location full time," says Daniel de la Vega, president of ONE Sotheby's International Realty, the project's sales and marketing brokerage. "We're seeing buyers from Florida, as well as the Northeast, Canada and Latin America, which promises a diverse community that reflects the population of South Florida."

Amenities include a rooftop sunset lounge, private lobby, fully equipped fitness center and spa, concierge services, 24-hour valet parking and multiple resort-style pools. Street-level retail will serve as an amenity for residents, hotel guests and the surrounding neighborhood.

Hotel services include room service, housekeeping, pool-side towel service, laundry, catering, and car services. Owners interested in renting out their home while not in use may opt to do so directly or to include their unit in the hotel's Flexible Rental Program.