From Bentley to Cipriani, brand-name condos dominate Miami’s skyline

Welcome to the battle of the manufacturers.

From über-luxury automobile producers like Porsche, Bentley and Aston Martin, to style homes like Missoni, Fendi, Diesel and Armani, decor designers like French crystal producer Baccarat, Italian furnishings firm B&B Italia and even darling restaurant firms Main Meals Group and Cipriani — residential buildings by companies recognized for every part however actual property are taking on Miami.

It’s not an exaggeration to say that almost each hotly-anticipated residential improvement within the metropolis that’s been not too long ago introduced or debuting over the following few years has a non-hotel designer identify hooked up. Given the success these tasks are seeing, it’s an explosion that exhibits no indicators of abating.

Les Woods, 54, a boxing promoter who lives in Toronto, not too long ago splurged on a three-bedroom residence in Aston Martin. A longtime fan of the automobiles, Woods owns two fashions.

“There’s a sure status related to Aston Martin, and after I heard that the model was doing residences, I knew I needed to stay there,” he mentioned. “You get to stay a way of life that Aston Martin homeowners aspire to.”

Business specialists say that Miami presents a major alternative for non-real property luxurious manufacturers to ascertain a footprint within the area and they’re partnering with seasoned builders for these nascent ventures.

“Miami, very similar to Dubai, is a world metropolis that likes its bling,” mentioned Chris Graham, the founding father of the London-based luxurious actual property branding consultancy Graham Associates. “It’s additionally an epicenter of hotel-branded residences which have carried out very nicely so it’s a lovely setting for different luxurious manufacturers to increase into the residing area.”

In reality, Jonathan Miller, president and CEO of the actual property appraisal agency Miller Samuel, says that Miami’s latest actual property growth is being buoyed by these massive manufacturers.

In response to his analysis, Miami Seashore noticed near $2.2 billion in condominium gross sales within the first quarter of 2022, in contrast with $510 million within the first quarter of 2020.

“Judging by numbers to this point, gross sales are on observe to interrupt an all-time document within the second quarter, and these high-end designer condos positively determine in,” he mentioned.

Condos with prestigious manufacturers hooked up to them is perhaps at a fever pitch at the moment, however the pattern goes at the very least way back to the Trump Worldwide Seashore Resort opening in 2003 in Sunny Isles Seashore, as much as 2012 when gross sales launched for Porsche Design Tower, a group of 132 residences additionally in Sunny Isles. That improvement debuted in 2016.

The condominium, a partnership between Porsche and Dezer Growth, provided facilities for homeowners that had been unparalleled on the time — non-public balconies with 15-foot-long swimming pools and a non-public automobile elevator that transports automobiles immediately into an proprietor’s dwelling, the place they change into a part of the decor.

“We bought out instantly after launching gross sales,” mentioned developer Gil Dezer.

The success of his Porsche collaboration impressed Dezer to create Residences by Armani Casa in Sunny Isles, which bought out with nearly $1 billion in gross sales. The mission accomplished in 2019.

As lavish as these developments are, town’s newest crop of branded condos are much more ostentatious.

Dezer, for instance, is behind Bentley Residences, debuting in Sunny Isles in 2026. Gross sales simply launched, and whereas the event’s full roster of facilities hasn’t all been introduced, Dezer says that the houses will likely be giant sufficient to accommodate three or 4 automobiles — presumably Bentleys. Residences begin at $4.2 million.

“Our greatest criticism with Porsche is that individuals didn’t have sufficient room to retailer all their automobiles,” he mentioned. “Our reply to that’s Bentley.”

In the meantime, Aston Martin’s residences, developed by G&G Enterprise Developments, have 47 ocean-facing items that include, after all, a limited-edition Aston Martin.

Springing for the triplex penthouse, listed for $59 million, will get its proprietor a $3.2 million Vulcan mannequin.

The constructing is debuting subsequent yr in Biscayne Bay and has 391 condominiums priced between $1.5 million and $59 million.

In the meantime, Main Meals Group — the restaurant firm behind ultra-trendy spots like Carbone, Soiled French and ZZ’s Clam Bar — is behind Main, the tallest constructing in Miami so far. Rising within the coronary heart of Brickell and developed by JDS, it’s going to characteristic quite a few meals and beverage venues, all designed by the famend decorator Ken Fulk.

“Our constructing will give residents something they need at a really excessive stage, which is what we stand for as an organization,” mentioned managing associate Jeff Zalaznick.

Competing restaurant model Cipriani is opening its personal residences which may also have an eponymous restaurant as its anchor. Residents may order Cipriani to take pleasure in at dwelling.

The event is scheduled to debut in 2025 in Brickell and has 397 houses with a beginning value of $1.1 million.

The style model Missoni will ship its Missoni Baia residences this summer time. They’ll be decked out in daring Missoni materials, furnishings and artwork in its signature zigzag sample. Costs for the 249 residences begin at $600,000 (one other style home, the Fendi Château Residences on Miami Seashore, opened again in 2016).

Branding condos has a twofold profit for each constructing and purchaser, in keeping with Graham, the posh actual property marketing consultant.

“Builders get a leg up by partnering with a designer as a result of they improve their possibilities for profitability,” he mentioned. “For patrons, it means a cachet and level of differentiation.”

Juan Pablo Verdiquio, 45, who owned a footwear firm in his native Argentina, presently lives in Porsche Design Tower full time together with his household. He moved into the constructing in 2017 as a result of he knew that it will include a assure of high-quality residing.

“Irrespective of the place I journey on this planet, after I inform folks that I stay within the Porsche constructing, they ask me concerning the automobile elevators. It’s a improvement with an immediate attraction,” he says. “I additionally assume that it helps the residences retain their worth.”

Verdiquio is now contemplating shopping for a residence in Bentley.

“I haven’t absolutely determined but as a result of I really like residing at Porsche a lot,” he mentioned. “However, then once more, it’s laborious to beat a Bentley.”