Welcome to the battle of brands.
From luxury car manufacturers such as Porsche, Bentley and Aston Martin, to fashion houses such as Missoni, Fendi, Diesel and Armani, interior designers such as French crystal producer Baccarat, Italian furniture company B&B Italia and even beloved restaurant companies Major Food Group and Cipriani – apartment buildings by companies known for everything Except for real estate controls Miami.
It’s no exaggeration to say that every hotly anticipated housing project in the city that’s been recently announced or debuted over the next few years has a non-hotel designer name attached. Given the success these ventures are experiencing, it’s an explosion that shows no signs of abating.
Les Woods, 54, a boxing promoter who lives in Toronto, recently spent on a three-bedroom condo in an Aston Martin. A longtime car fan, Woods owns two models.
“There is a certain niche associated with Aston Martin, and when I heard that the brand was housing, I knew I had to live there,” he said. “You can live the lifestyle that Aston Martin owners desire.”
Industry experts say Miami presents a prime opportunity for luxury non-real estate brands to make a mark in the space as they partner with seasoned developers for these start-ups.
“Miami, like Dubai, is a cosmopolitan city that loves its glamor,” said Chris Graham, founder of London-based luxury real estate consultancy Graham Associates. “It’s also a hotspot for hotel-brand residences that have done very well, so it’s an attractive place for other luxury brands to extend into the living space.”
In fact, Jonathan Miller, president and CEO of real estate appraisal firm Samuel Miller, says the recent real estate boom in Miami is underpinned by these big brands.
According to his research, Miami Beach saw nearly $2.2 billion in condominium sales in the first quarter of 2022, compared to $510 million in the first quarter of 2020.
“Judging by the numbers so far, sales are on track to break all-time records in the second quarter, and these high-end designer apartments certainly stand out,” he said.
High-end branded apartments may be in a frenzy today, but the trend is at least as back as it has been since the 2003 Trump International Beach Resort opened in Sunny Isles Beach, until 2012 when sales of the Porsche Design Tower, a collection of 132 residences also in Sunny Isles. This development first appeared in 2016.
The condominium, a partnership between Porsche and Dezer Development, offered owners amenities that were unheard of at the time — private balconies with 15-foot pools and a private car elevator that transported cars directly to the owner’s home, where they became part of the décor.
“We sold everything we had right away after the sales launch,” said developer Gil Dezer.
The success of his collaboration with Porsche inspired Dezer to create the residences of Armani Casa in Sunny Isles, which have sold for nearly $1 billion in sales. The project was completed in 2019.
Despite these lavish developments, the city’s newest collection of branded apartments is even more ostentatious.
Dezer, for example, is behind the Bentley Residences, making its Sunny Isles debut in 2026. Sales have just launched, and while the full list of amenities in the development hasn’t been announced, Dezer says the homes will be large enough to accommodate three or more Four cars – supposedly Bentley. Housing starts at $4.2 million.
“Our biggest complaint with Porsche is that people didn’t have enough space to store all of their cars,” he said. “Our answer to that is Bentley.”
Meanwhile, the Aston Martin residences, developed by G&G Business Developments, contain 47 oceanfront units that come with a limited edition Aston Martin of course.
Spring for the triplex penthouse, listed for $59 million, owner gets a Vulcan model worth $3.2 million.
The building will make its debut next year in Biscayne Bay and includes 391 housing units ranging in price from $1.5 million to $59 million.
Meanwhile, Major Food Group — the restaurant company behind ultra-trendy spots like Carbone, Dirty French, and ZZ’s Clam Bar — is behind Major, Miami’s tallest building to date. Rising in the heart of Brickell and developed by JDS, it will feature several food and drink venues, all designed by renowned interior designer Ken Falk.
“The building will provide residents with anything they want to a very high standard, which is what we stand for as a company,” said managing partner Jeff Zalaznick.
Rival restaurant brand Cipriani has opened its own residences which will also have the eponymous restaurant as its anchor. Residents can also order a Cipriani to enjoy at home.
“No matter where I travel in the world, when I tell people I live in a Porsche building, they ask me about car lifts. It’s a development with instant appeal.”
Juan Pablo Verdicchio, resident of the Porsche Design Tower
The project is due to begin in 2025 in Brickell and includes 397 homes with a starting price of $1.1 million.
Fashion brand Missoni will introduce Missoni Baia residences this summer. It will be embellished with bold Missoni fabrics, furniture and art in its signature herringbone pattern. Prices for the 249 condominiums start at $600,000 (another fashion house, Fendi Château Residences on Miami Beach, opened in 2016).
Branded apartments have a double benefit for both the builder and the buyer, according to Graham, a luxury real estate advisor.
“Developers get a leg up by partnering with a designer because they increase their chances of being profitable,” he said. “For buyers, this means a distinct character and a point of differentiation.”
Juan Pablo Verdicchio, 45, who owns a shoe company in his native Argentina, currently lives at Porsche Design Tower full time with his family. He moved into the building in 2017 because he knew it would come with a quality of living guarantee.
“No matter where I travel in the world, when I tell people I live in a Porsche building, they ask me about car lifts. It’s a development that has instant appeal.”
Verdiquio is now considering buying a condo in Bentley.
“I haven’t fully decided yet because I like living in a Porsche very much,” he said. “But, again, it’s hard to beat a Bentley.”
