The 60-storey tower in Miami will be ready by 2019
It’s boom time in Miami’s real estate scene. The mega Porsche Design Tower that allows you to park your ride (preferably a 911) alongside your living room was completed earlier this year. And as we were told by its developer, Gil Dezer, the project netted nearly $840 million in sales with prices of the apartments starting at six-and-a-half million dollars and going up all the way to $32 million for the 17,000 square foot penthouses.
The Dezer family made a fortune in the New York real estate market before moving their business to Miami where they’ve become one of the city’s biggest real estate developers. Now that the Porsche Design Tower is ready, Dezer is working on his next residential project, Residences by Armani/Casa also located in Sunny Isles Beach.
Starchitect César Pelli, the man behind iconic landmarks like the Petronas Towers and the World Financial Center in New York has been roped in for the project. Giorgio Armani would be heading up the interior design team that is tasked with fitting out the 308 residences in this 649-foot skyscraper with state-of-the-art facilities and furnishings.
The Residences by Armani/Casa is expected to have over 35,000 square feet of amenities including a cigar room, fitness centre, spa, theatre, heated swimming pool, wine cellar and fine dining restaurant.
The 60-floor tower has residences that range in size from 1,800 square feet to 6,500 square feet. Although prices haven’t been declared yet, it is speculated to range from $2million to over $15million for the penthouse that will be furnished by Giorgio Armani and includes a trip to Italy to meet with Armani.
At the time that the construction on the project began last year, it secured a $305 million construction loan. The Residences by Armani/Casa is expected to be completed by 2019 and according to Dezer will net $1 billion in sales. In the meanwhile, Dezer is simultaneously working on another high-profile project – a mixed-use residential tower called Hyde Midtown in Miami.