Fort Lauderdale’s Luxury Condo Boom: New York Developers Hold 45% of the Downtown Pipeline
New York developers account for 4.6 million square feet of downtown Fort Lauderdale development, or 45%, according to Bloomberg figures reported by Axios Fort Lauderdale on Oct 14, 2026. Axios says that compares with 13% of completed projects between 2021 and 2024. Redfin data cited by Axios shows Fort Lauderdale home prices up 14% from September 2025 to September 2026.
| Fort Lauderdale market figures | Figure | Source as given |
|---|---|---|
| New York firms’ share of downtown development | 45% (4.6 million SF) | Bloomberg, via Axios |
| New York firms’ share of completed projects, 2021-2024 | 13% | Bloomberg, via Axios |
| Home price change, Sep 2025 to Sep 2026 | Up 14% | Redfin, via Axios |
| Miami median home price | $650,000 (Axios says this is $45,000 above Fort Lauderdale) | Axios |
| Under-45 population growth since 2020 | 25% | Bloomberg, via Axios |
| Newcomers from San Diego and Los Angeles | 22% | Fort Lauderdale Downtown Development Authority, via Axios |
What is driving Fort Lauderdale’s luxury condo boom?
Axios describes Fort Lauderdale as shaping up to be South Florida’s next luxury real estate hot spot, in a city that has historically been a more affordable alternative to Miami and Palm Beach. Axios says developers are pouring money into the city.
Bloomberg quoted Naftali Group CEO Miki Naftali: “For some people, Miami became too hectic, too busy, too noisy.” Axios also reports that Fort Lauderdale is drawing more transplants from California, along with young families and professionals.
How big is the New York developer presence downtown?
Per Bloomberg’s figures, New York firms hold 4.6 million square feet of the downtown pipeline, or 45%, up from 13% of completed projects between 2021 and 2024. Axios names St. Regis, Ritz-Carlton and Viceroy as brands bringing luxury residential towers to the city, without naming the projects. We have not independently verified the Bloomberg figures; they are Axios’s account of that reporting.
Which towers does Axios name?
Axios lists two projects in more detail. Axios reports that Related Group is developing Andare Residences, a 46-story condominium building on Las Olas, which Axios says is already more than 50% sold. Axios also reports that Ombelle, two 44-story condo towers with the city’s first Equinox gym, is coming to Flagler Village.
| Brand or project | What Axios reports | Our nearest card (Axios does not name the project) |
|---|---|---|
| St. Regis | Named as bringing a luxury residential tower | The St. Regis Resort & Residences, Bahia Mar: from $3 million per our new-developments card (subject to change); estimated delivery 2030 |
| Ritz-Carlton | Named as bringing a luxury residential tower | The Ritz-Carlton Residences, Fort Lauderdale: estimated delivery 2029 per our new-developments card (subject to change) |
| Viceroy | Named as bringing a luxury residential tower | No card on file |
| Andare Residences | 46 stories on Las Olas; more than 50% sold, per Axios | No card on file |
| Ombelle | Two 44-story towers with an Equinox gym in Flagler Village | No card on file |
What are prices doing, and how does Miami compare?
Redfin figures cited by Axios show Fort Lauderdale prices up 14% over the 12 months from September 2025 to September 2026. Axios puts Miami’s median home price at $650,000, which it says is $45,000 more than Fort Lauderdale’s. Axios does not say whether those medians cover condominiums only or all homes, so read them as citywide home prices, not condo pricing.
What is opening alongside the towers?
Axios says the wave of luxury development has fueled restaurant openings and private social clubs. Caviar Club, described as a retro-glam American steakhouse with a private social club, is opening on Las Olas this month. Pier Sixty-Six opened Fort Lauderdale’s first invitation-only social club, per Axios.
Is there competition from nearby markets?
Axios notes that Pompano Beach, which the New York Post has called the next Palm Beach, is undergoing a $2 billion redevelopment of its 75-acre downtown. Our Fort Lauderdale hub covers the wider Broward pipeline, and our Sep 26 Top 10 new developments in Fort Lauderdale, ranked lists the projects we track. Project pages: The St. Regis Resort & Residences, Bahia Mar, The Ritz-Carlton Residences, Fort Lauderdale and our Fort Lauderdale market page.
Who does this market suit?
Suits buyers who want a newer-construction condominium in a city that Axios says has historically been more affordable than Miami and Palm Beach, who are comfortable with pre-construction timelines, and who want to compare brand, location and delivery year before they commit. Price and delivery details change between releases, so confirm current terms before relying on any figure here.
FAQs
What share of Fort Lauderdale’s downtown development do New York firms hold?
Bloomberg reports, as relayed by Axios, that New York firms account for 4.6 million square feet of downtown development, or 45%. By comparison, they accounted for 13% of completed projects between 2021 and 2024.
How much have Fort Lauderdale home prices risen?
According to Redfin, as cited by Axios, Fort Lauderdale home prices climbed 14% from September 2025 to September 2026.
Which luxury towers does Axios name in Fort Lauderdale?
Axios names St. Regis, Ritz-Carlton and Viceroy as bringing luxury residential towers to the city. It also reports on Andare Residences on Las Olas and Ombelle, two 44-story towers in Flagler Village.
What does our new-developments card list for St. Regis Bahia Mar?
From $3 million per our new-developments card (subject to change), with estimated delivery in 2030.