Riva developer Bradley Decklebaum says Fort Lauderdale is no longer in Miami's shadows.

MIAMI—Miami is widely known as the Gateway to Latin America. But what about Fort Lauderdale? As one of the largest cities in South Florida, are foreign buyers flocking there?

GlobeSt.com caught up with Bradley Deckelbaum, a fourth-generation residential real estate developer who is building RIVA, a new luxury condominium in Fort Lauderdale, to get his insights in to what he sees in part two of this exclusive interview. You can still read part one: Developer: Economic Forces Catapult Fort Lauderdale Onto the World Stage.

GlobeSt.com: What is the pulse from the broker community about Fort Lauderdale?

Deckelbaum: South Florida brokers and the buyers they represent see the intrinsic value and potential for a solid investment. Price, of course, plays a role in many buyers' decisions to choose Fort Lauderdale, even at the multimillion-dollar-penthouse level. With the price of new luxury condo construction in Miami Beach said to be $2,000 per square foot and more, Fort Lauderdale's prices of around $900 per square foot for luxury condos it is extremely attractive.

GlobeSt.com: Where are the majority of buyers coming from?

Deckelbaum: Even though we are less than 30 miles from Miami, Fort Lauderdale is much less engaged with Latin America and attracts mostly domestic buyers. At Riva, 70% of our buyers are from Florida and particularly South Florida. They know the city well and are comfortable here.

Several are downsizing from large suburban homes and moving east to enjoy the excitement of city living. Others already live in Fort Lauderdale and are selling their older, dated residences in favor of spacious, modern condos with spectacular river views, huge terraces and great lifestyle amenities. Still others live in Northeastern and Midwestern states, have vacationed in Fort Lauderdale through the years and like it so much that they are buying places of their own here. Architecturally, Fort Lauderdale is seeing modern design more spectacular than it has ever seen before, on and off the beach. “

GlobeSt.com: What types of new construction are you seeing around Fort Lauderdale?

Deckelbaum: In addition to luxury condominiums, multifamily development has stretched from the heart of downtown to Flagler Village and beyond, pushing boundaries and creating attractive rental neighborhoods for Gen-Xers and Millennials. A newly formed economic accelerator and development of Fat Village speak to the city's creative spirit.

MIAMI—Miami is widely known as the Gateway to Latin America. But what about Fort Lauderdale? As one of the largest cities in South Florida, are foreign buyers flocking there?

GlobeSt.com: What is the pulse from the broker community about Fort Lauderdale?

GlobeSt.com: Where are the majority of buyers coming from?

GlobeSt.com: What types of new construction are you seeing around Fort Lauderdale?

Instant Insights /

You Might Be Surprised Where Fort Lauderdale Buyers Are Coming From

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