Porsche Design Teams Up with Dezer for $650M Condo Tower
- Nov 18, 2011
Porsche Design plans on making a grand entrance into the South Florida multifamily market by partnering with Dezer Properties for its $650 million Sunny Isles Beach condo tower. The major project, named Porsche Design Tower, has already received approval from the Sunny Isles Beach City Commission. While this is Porsche Design’s first venture in the South Florida condo market, Dezer Properties has already developed thousands of units in the Sunny Isles Beach area, including six other condo towers that bear the name of real estate mogul Donald Trump.
The 57-story tower will have a cylindrical form and will spread over 2.2 acres of land at 18555 Collins Avenue, replacing the Golden Nugget Beach Club & Hotel; featuring 132 condo units ranging from 3,800 to 9,500 square feet, most of them will be duplexes with pools featured on every other level. According to the Miami Herald, the price of a unit could be as high as $9 million.
One unique feature of the Porsche Design Tower will be its 284 robotic parking spaces, along with the three circular, rotating platforms at the building’s center that operate like elevators—transporting the cars (and residents) to their destinations. Residents can drive their car into the glass elevator that takes them up to the front door of their apartments, while also enjoying unparalleled views of the city or the ocean.
A recent report from CondoVultures.com shows that the Porsche Design project follows three other condo towers proposed for the Sunny Isles Beach area, adding to a total of 13 towers that are to be built in South Florida; upon completion, the developments will add approximately 3,500 new units to the area.