Icon Las Olas On Hold

Icon Las Olas
Proposed Rendering
Courtesy of The Related Group of Florida

After the Related group of Florida last Sales Disaster the " Icon Brickell ", For which Fortune Development Sales From Fortune International took over; they decided it may be of their best interest to place on Hold some of their huge projects to come, like The Icon Las Olas.

The description of the project on Related's Website is the following
Icon Las Olas is a 42-story high-end luxury condo building located at 500 East Las Olas at the Old Hyde Park site. Abutting Ft. Lauderdale’s “New River” and fronting on world famous Las Olas Boulevard, Icon Las Olas will consist of 272 units. Retail space will include two restaurants, one on the River and one at the plaza, and several boutique shops. Located on the 8th floor will be a large oval swimming pool, club/party room, fitness center, lush bamboo garden and a beautiful water fountain.


Sure of all the glamour and luxury of this project may have, but will not help it sell out, since prices were calculated at a whooping $450-500 per SqFt. That is for a 1 Bedroom/1 Bathroom unit of 846 SqFt a price around $400K; that seems to be a little high.


To the Related Group: A Very Smart Move.
Now, just be sure to keep that land from going into Foreclosure.

To read more about the Foreclosure and extension of Loan for the Land of the project: Read The Full Article Here

Proposed Rendering
Courtesy of the Related Group of Florida