Selene Fort Lauderdale vs. St Regis: Buy the Discount

by Craig Bujnowski

The smartest luxury trade isn’t always buying the most expensive building. Sometimes it’s buying the completed asset nearby before the new development resets the neighborhood’s pricing expectations. St. Regis Bahia Mar could become exactly that kind of price-discovery catalyst for Selene.

A $3M investment at $1,300/SF buys roughly 2,300 SF; at $2,000/SF it buys only 1,500 SF.
That’s roughly 800 additional SF for the same $3M capital allocation.
A 20–30% $/SF discount gives investors considerably more room for potential multiple expansion.
Immediate occupancy versus potentially years of construction eliminates a major development variable.
St. Regis Residences Bahia Mar doesn’t need to make Selene obsolete - it could help establish the higher-end comps that make Selene’s basis look increasingly attractive.

POTENTIAL UPSIDE:

A 2,300-SF Selene residence purchased around $1,300/SF represents roughly $3.0M.

At $1,800/SF, theoretical value rises to approximately $4.14M — about $1.15M of gross upside.

Craig Bujnowski
Luxury Waterfront & Las Olas Condo Advisor
@craigbuj | 617-784-7504