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Miami Digs: PORSCHE DESIGN TOWER – pre-constructions project in Sunny Isles

Posted by in Uncategorized | June 03, 2013

 

Porsche Design Tower

Porsche Design Tower Stands Out

The massive Porsche Design Tower project in Sunny Isles Beach, Florida, keeps achieving milestones. Dezer Development announced last September that over two-thirds of the units were already pre-sold. At a price tag ranging from $4.8 million to $32.5 million1, only those in the very top income bracket will be likely prospects. In fact, as of last Fall, twenty-two of the homes were pre-sold to the world’s richest billionaires.

The Porsche Design Tower brings luxury branding to a new level, sparing no expense to build in the kind of amenities and lavish services sure to attract the world’s wealthiest home buyers. The power of the Porsche brand name trumpets the project’s central theme, and the focus of its aesthetic appeal. Many building amenities are directly related to the car culture as practiced among the billionaire set. Judging by the well-heeled crowd seen at the 2013 groundbreaking event, glamour and luxury will be baked into the lifestyle, the building, and the car culture itself.

One of the most talked-about features in an over-the-top condo tower is the glass-walled auto elevator. It dazzles visitors with its exotic engineering appeal, symbolizing the kind of extreme amenities the building offers, like individual sky garages placed next to units, and a car concierge to take care of your car’s every need, including maintenance visits.

Luxury is built into every home, of course, and that Porsche engineering factor has no doubt played a role in the placement of individual swimming pools on most balconies. Even the building’s sales office has gone to some lengths to reinforce the luxury profile, with doll-house like 3-D models to help buyers envision their future sky homes more fully.

As of last September, the project logged in another first, obtaining from Wells Fargo the largest new condo construction loan in South Florida since the real estate collapse, at $214 million. Apparently, all the players have recognized the continued impact of the greater Miami real estate dynamic, which attracts some of the wealthiest people in South America. They come for the vibrant social scene, the luxury beach lifestyle, and the investment opportunities.

Porsche Tower developer Gil Dezer attributes the building’s success to correctly identifying the right audience for a luxury project. By positioning Porsche Tower, with its multi-million-dollar per unit price tag, toward buyers who would be unaffected by financial fluctuations in the economy, he has minimized the developer’s risk and as of March 2014, was able to boast that 113 of 132 units were sold.2

Partnering with the prestigious Porsche Design Group immediately identified the building with the style and precision engineering of its near-cult status cars. Porsche has plans to take the same formula to other real estate markets around the globe, according to Juergen Gessler, CEO of the Porsche Design Group, quoted as saying “We look forward to developing future Porsche Design Towers throughout the globe that will continue to redefine the world of luxury.”3

For more information on buying opportunities in South Florida, text or call Michael Yablonicky direct at 305-467-7204 or email at michael@zilbert.com.

1. http://therealdeal.com/miami/blog/2013/09/25/porsche-design-tower-lands-214m-construction-loan/
2. http://www.bloomberg.com/news/2014-03-12/miami-luxury-condos-revived-with-buyer-cash-deposits.html
3. http://www.porsche-design.com/en/News/Porsche-Design-Tower/

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