400 E Atlantic Blvd
Pompano Beach, FL 33060

Best Deal on the market is Back. Second chance opportunity. Potential 300% RETURN on investment. A 51 Million dollar profit potential. The Wave on Atlantic is a high-caliber product. For starters, it was designed by world-renowned Arquitectonica, and is one of the very rare waterfront developments in Pompano Beach with 225 FEET on the water. Fully APPROVED project with a Development Order in place. It includes boat dockage and DIRECT access to the intercostal waterway and the Ocean and is located within a block of Pompano Beach's new multi-million dollar cultural center and library. The Wave on Atlantic is a spectacular waterfront site comprised of 204 luxury residential units in an 8 stories state-of-the-art building with a breathtaking rooftop pool and a completely enclosed and private four-story parking structure. The Pool in the Sky is situated on the roof overlooking the entire city. The units have large curved balconies, complementing the rooftop pool elements, as the building is designed with a wavelike motion, which took quite a while from concept to actual design, hence the name, the Wave on Atlantic. ***** This resident waterfront building is projected to yield a * 51 MILLION DOLLAR * profit potential and over 300%+ Return On Investment (ROI) !!!! and TRIPLE your money, as the rental market rates continue to rise with the ongoing migration to South Florida in mass numbers of affluent and middle-class families from New York to California. The trend is expected to continue for the next few years. This project from a development standpoint would easily work at a 25M-30M dollar acquisition price. The listing price is being kept reasonable for an expedited sale. CONSTRUCTION Identical floor plates make construction more economical. The glass railings are only in the front. The railings in the rest of the building are standard. APPRECIATION As you know, unique projects appreciate in value substantially more over time than the typical cookie-cutter design. The Wave on Atlantic is that unique project further authenticated by the world-class firm of Arquitectonica. They do not take on just any project. They are very picky about which projects they will lend their name and reputation to. They loved this location. This property has the potential to be worth substantially more with the continued appreciation (no other waterfront site like it) in close proximity to the Atlantic Ocean with this type of zoning. The continued migration into South Florida will further accelerate this process. EXISTING BUILDINGS Presently, the existing buildings are comprised of 27 two-story townhouses and a 6,826-square-foot two-story retail/office building along Atlantic Blvd which will eventually be razed. Most of the units have been upgraded. The existing project is generating close to $400,000 of income in the meantime, even with a vacant floor of commercial space which the owners are not aggressively marketing. Should someone wish to increase the rents and lease out the rest of the commercial space, the income could potentially be much higher. The project is being managed by a professional management company that also oversees the maintenance and leasing for fully hands-off ownership. With the development aspect in mind, all units have a 60-day termination clause in their leases for a new owner. OFFERING The owners are asking for this development project at only $19.5 million (or best offer), which is low for a waterfront site of this caliber with 200+ luxury units, rooftop pool and the respective amenities package. In addition to the number of full-price offers they received on Atlantic One (five) and how superior a product the Wave on Atlantic is including the waterfront aspect, the Arquitectonica design, parking structure, the rooftop elements, etc. Waterfront units tend to go substantially higher than dry lot units, as you know. They also tend to appreciate faster and at a greater value over time. Even more so with name recognition. This project could further double in value in only a few years. ENCLOSED Enclosed are 3D renderings, comparison to existing projects, aerial photos, offer memorandum, etc. A link is available to the full architectural plans. Please inquire for the LINK to the architectural plans. SURROUNDING PROJECTS The Wave on Atlantic is situated next to the KOI, a luxury townhome community that is 100% sold out. The last townhome sold for $675,000. The new twin-tower Envy project is also next door on the Atlantic Boulevard side and, unlike the Wave, is not a waterfront project. Envy is already 97% leased. Envy has a more Gothic look versus the Wave’s more chic and elegant design for which the developers endeavored to achieve. Roughly a similar number of units at 214 vs 204. There is also a building lot comparison of the Wave to Envy in which the Wave lot size is also larger than the combined Envy lots. POMPANO BEACH ONE OF THE HOTTEST MARKETS IN THE NATION The location in Pompano Beach in Broward County, Florida has become one of the hottest markets in the Nation. Very strong demographics and tremendous growth. There are over a billion dollars of new investments coming to Pompano Beach which means in a few years, the value, due to appreciation alone, will also be substantially higher than any current-day projections based on demand. This area is expected to turn into the next submarket similar to Miami Beach or Wynwood. South Florida Business Journal, Emerging Neighborhoods: “Pompano Beach is on the brink of a transformation decades in the making”. A number of new projects have already broken ground April 8th, 2020, Miami Herald article: Rent is increasing more in this North Broward city (Pompano Beach) than anywhere else in the Country. DROPBOX LINK Please inquire for Dropbox link to the full architectural plans.