Opus at 701: Boutique Condo Tower Planned on Fort Lauderdale's Bayshore Drive

Key Points

• CNB Contracting proposes Opus at 701, a 13-story, 54-unit luxury tower at 632 & 701 Bayshore Drive, Fort Lauderdale.

• The developer acquired the two-parcel site for $19.5 million across 2023 and 2025, replacing a multifamily complex and a hotel.

• Designed by Adache Group Architects, the project will feature 114 parking spots, multiple pools, a spa, and a fitness center.

Luxury Living Inches Closer to Fort Lauderdale’s Intracoastal

A new luxury condo development is on deck for Fort Lauderdale’s Intracoastal corridor. New York-based CNB Contracting is behind Opus at 701, a 13-story tower that would bring 54 upscale residences to one of Broward County’s most exclusive waterfront areas.

But with design tweaks required by the city, and a location replacing existing buildings, the project faces several layers of local scrutiny before it breaks ground.

Here’s what we know — from the developer’s land play to the architectural footprint, and what this means for brokers and multifamily investors.

Project Specs: Height, Density & Amenities

• Building height: 13 stories; 155 feet at its tallest point, aligning with the tallest structures in the area

• Residences: 54 units total

  • Most common layout: 3 bedrooms

  • Other configurations: 2-bedroom, 2-bedroom plus den, and penthouses

• Amenities:

  • Fitness center

  • Two swimming pools

  • Spa

  • 114 parking spots in a three-story podium

• Architect: Adache Group Architects

Site Assembly & Cost

• Address: 632 and 701 Bayshore Drive, Fort Lauderdale, FL 33304

• Acquisition Cost: $19.5 million over two years (2023 and 2025)

• Existing Use: A multifamily rental property and a hotel, both to be demolished

• Neighborhood: Near the Intracoastal, close to the beach, surrounded by mid-rise luxury towers and boutique hotels

Entitlements & City Review

Before moving forward, Opus at 701 must pass through Fort Lauderdale’s Development Review Committee and receive approval from the City Commission.

• DRC Feedback:

  • Requested revisions to podium screening, balcony design, and other exterior features

  • Focused on ensuring architectural consistency with the neighborhood

• Zoning Compliance:

  • No variances requested; the proposal stays within the permitted height limit of 155 feet

A Comeback for Condos?

While Fort Lauderdale has seen a slowdown in speculative condo launches, Opus at 701 signals that well-capitalized, out-of-state developers are still pursuing high-margin infill opportunities.

Key takeaways for CRE professionals:

• Tight supply: With limited waterfront land and increasing construction costs, redeveloping underutilized properties into boutique luxury condos remains an appealing strategy.

• Buyer profile: Floorplans and amenities suggest a focus on high-net-worth primary residents rather than transient renters.

• Regulatory climate: Developers should track whether Fort Lauderdale tightens its stance on density or design approvals, especially along the waterfront.

The Bottom Line

With a $19.5 million site assembly and a boutique luxury product targeting an affluent buyer base, CNB Contracting’s Opus at 701 stands out as a strategic play in one of South Florida’s most competitive residential corridors. While local review may introduce delays, the fundamentals point to strong long-term demand and margin potential.