Riva Penthouse Sale Sets Price Record

FORT LAUDERDALE, Fla. — (March 3, 2016) – A penthouse at the Riva condominium now under construction on the Middle River has sold for the highest price per square foot ever paid for a non-oceanfront condominium in Fort Lauderdale. Bradley Deckelbaum, principal of Premier Developers, announced that the luxurious residence is under contract for more than $3 million, or $900 price per square foot for over 4,000 square foot of under air living space.

With 6,500 square feet of total indoor-outdoor living space, the spectacular four-bedroom penthouse includes two master suites, four-and-one-half-bathrooms and two extraordinarily large terraces with just under 2,500 square-foot of panoramic ocean-sunrise-to-city-sunset views.

Every Riva penthouse  includes a private boat slip suitable for powerboats up to 33 feet, with direct access down the river to the Intracoastal Waterway and the ocean.  Penthouse ownership also includes a private, enclosed garage. The sophisticated penthouse design includes access via a private elevator foyer.   A grand staircase and transparent, personal elevator joins the two levels.  With walls of glass facing east and west, the main living floor features a sprawling ocean view.

According to ONE Sotheby’s International Realty, the exclusive listing agent for Riva, the new penthouse owner elected to sell his high-priced Manhattan condominium and relocate to Fort Lauderdale for a combination of reasons, including the superior price-per-square-foot value and strong investment potential of the Riva penthouse.   Fort Lauderdale’s quality of life and active arts and culture scene, including respected museums and performance venues, also were major factors.

The $900 price per square foot for Riva’s penthouse is 45 percent higher than Broward County’s average price per square foot of $500 for a new condominium unit, according to the January 2015 CraneSpotters Developers Price Survey and competitively priced with Miami-Dade County where the average is more than $850 price per square foot.

Fort Lauderdale’s real estate market continues to garner attention from domestic and international buyers as a thriving location and a welcome alternative to Miami, in terms of both value and lifestyle.

With its picturesque, serene location along the Middle River, Riva’s penthouses are designed to provide a unique waterfront  lifestyle, including  terraces large enough to comfortably host 40  guests at a sit-down dinner.  The private outdoor space also features a summer kitchen  and an oceanview spa pool.

The fourth floor River Club includes a lap pool with private cabanas, a fitness center, a Borghese spa, and a “Cucina” gourmet dining kitchen as part of the private two-story lounge.  Located on a two-acre site across the river from George English Park, Riva is comprised of only 100 exquisitely designed residences in the 15-story building.  Exceptionally large two- and three-bedroom models are offered from the $700,000s to over $3 million.

About Premier Developers

Bradley Deckelbaum is the fourth generation of his developer family, continuing a 100-year legacy from Canada to Florida. The family has completed over 2,000 homes in Florida, with a value in excess of $800 million. Some of Premier’s best-known recent communities include Bellaria, on the ocean in Palm Beach; Renaissance, on the ocean in Hollywood; and La Rive, on the Intracoastal in Fort Lauderdale.

Riva is located at 1180 N. Federal Highway. The off-site sales center is open daily at 1200 East Las Olas Boulevard. For information visit www.riva-condo.com or call (954) 233-3288.