W Residences Ft. Lauderdale
Offers 8% Leaseback Program
Completes $60 Million Renovation
November 16, 2017
Hello, Joel Greene here from Condo Hotel Center. I’m in Miami, Florida where it’s a balmy 83° sunny day. I just spoke with one of my clients in New Jersey where it’s currently 45 and rainy. Hmm, I know where I’d rather be. How about you?
If having a second home in Florida to escape to in winter sounds appealing, you might find today’s featured property of interest. It’s one I’ve written about before, but I’ve just learned about a new leaseback program and major renovation that makes this condo hotel worthy of another look. Read on for details.
The All New W Residences
Located on the exciting Fort Lauderdale strip and just across the street from 23 miles of goldensandy beach, W Residences Ft. Lauderdale is a condo hotel consisting of two connected 24-story towers.
One tower is a 346-room hotel and the other has 171 one- and two-bedroom condo residences. A parking garage is conveniently located on the first four levels.
Of the 171 condo residences, 85 are available for sale and what I’ll be focusing on today. They can be used as a primary home, a second home or placed in the hotel’s rental program to generate revenue.
8% Leaseback Program
Just announced at the W Residences is a leaseback program available on a limited number of two-bedroom oceanfront units.
Through the leaseback option, you would have your condo leased for two years, and you’d receive guaranteed rental payments totaling 8% of the net purchase price each year. You’d be responsible for real estate taxes and maintenance fees.
After the two-year period, you’d still be able to participate in the rental program and share in the revenue your unit generates, but without the guarantee of 8% returns.
The rental program is managed by Marriott International, which has merged with Starwood Hotels & Resorts Worldwide to become the largest hotel management company in the world, operating 30 brands and over 5,700 properties.
The W Residences was originally built in 2009. A $60 million renovation has just been completed and looks amazing.
In addition to work done on the individual residences, the amenities have also been updated. They include:
- Wet East®, a heated swimming pool oasis with oceanfront views
- Wet West®, a private VIP salt water pool complex with cabanas
- Private cabanas with service from the Wet® Bar and Grille
- Fitness center
- Bliss® Spa, a full-service spa
- Steak 954, a Steven Starr gourmet oceanfront restaurant
- El Vez, a Steven Starr Mexican restaurant
- Living Room, an ocean view lounge for cocktails and socializing
Additionally, residents have access to all the services provided by the hotel including:
- Whatever/Whenever® concierge service
- Valet parking and self-parking
- Use of all hotel amenities, with resident signing privileges
A Major Renovation
As part of the renovation, the 171 residences at W Residences are newly refreshed. Updated interiors designed by New-York based Meyer Davis evoke the nautical feel of a yacht with all the amenities of a luxury residence.
These two-bedroom units have living areas, full kitchens with seating for four and master bathrooms with spa bathtub and separate shower.
They come with all furniture, appliances, entertainment system, TVs, a Signature W Hotels® bed, upscale fixtures and designer accessories.
Floor-to-ceiling windows and spacious balconies reveal spectacular views of the Atlantic and Intracoastal Waterway, while an exclusive golden sand beach is just steps away.
The Ft. Lauderdale Strip
W Residences is located in one of the world’s most vibrant districts on the Ft. Lauderdale Strip. It is close to art galleries, fine arts museums and performing arts venues showcasing stellar performances of music, dance and drama.
Shopping and entertainment opportunities abound: upscale boutiques, restaurants, lounges, movie theaters and the famed Las Olas Boulevard. Also nearby are numerous high-end shopping centers and outlet malls.
The area’s biggest attraction though is its 23 miles of golden beaches with exceptional deep sea fishing, yachting, snorkeling and diving.
The W Residences is also near Port Everglades, one of the top three cruise ship ports in the world, and it’s only 10 minutes to the Fort Lauderdale International Airport.
No Living Restrictions
There are no restrictions on living in the W Residences. You can live there as your permanent residence 365 days a year or rent it out with no restrictions on the length of the lease or the number of times rented annually. And, as mentioned previously, you can also elect to place your unit in the hotel’s rental program managed by Marriott.
Prices for the two-bedroom, fully furnished residences range from $900,000 to $1,120,000. In size they range from 1,283 sq. ft. to 1,463 sq. ft. and all of them offer spectacular views of the Atlantic Ocean and Intracoastal Waterway.
Want to know more? I’ve got plenty of details in my W Residences Ft. Lauderdale data sheet, yours for the asking at the link below.
Balmy South Florida
Now here’s the forecast for Ft. Lauderdale where the W Residences are located.
If 83° sounds, and feels, better to you than 45°, you might want to give the W Residences serious consideration. And, of course, if the W isn’t a fit, I have plenty of other properties I can offer you, something to meet almost every need, every budget, so just give me a call.
Have a sunny day!
Want to know more about me? Click below: //www.condohotelcenter.com/joel-greene.html
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