Gale Residences offer flexibility

If you want to buy a condominium at Gale Residences Fort Lauderdale Beach, it’ll have to be as a resale.

All 129 units have been sold, according to the developer, Newgard Development Group.

It took more than two years to sell out. Newgard broke ground in 2016 at 401 Bayshore Drive, a block from the ocean. Gale is expected to open in early 2018, if not sooner.

“We went to market with a very well thought-out luxury boutique product with smaller units than what you would expect to see on Fort Lauderdale beach,” Harvey Hernandez, CEO of Newgard, said in a statement. “We also offered owners flexibility of living that allows them to rent out their residences when they are away. I think buyers saw the tremendous value we offered.”

The 12-story Gale has 122 one-, twoand three-bedroom units ranging from 800 to 2,100 square feet and priced from the low $400,000 to $1.5 million. It also has seven two-story townhomes that sold in the high $800,000s.

Buyers are from South Florida, as well as Canada, South America, Mexico and Europe, officials said.

The strong reception underscores the strength of Broward County’s condo market, analysts say. While Miami-Dade is dealing with a glut of unsold units, the Fort Lauderdale and Hollywood-Hallandale Beach markets are seeing robust condo sales due in large part to the discounts they get here compared to Miami-Dade.

Newgard is also renovating a historic building adjacent to Gale into a 96-room boutique hotel. It’s expected to open late in 2018.