The wow factor for Miami’s skyscraper condos no longer comes from a dazzling Atlantic Ocean view. It takes something more audacious to sell beachfront property these days to the ultra-wealthy who arrive in Miami with millions to spend on second or third homes. It takes words invested with meaning in the language of the international jet set: Porsche; Giorgio Armani; Fendi.
Miami is embracing the notion that homes, like cars, handbags and jewellery, should carry designer labels. The trend has spread from Europe, Asia and the Middle East.
The developer Gil Dezer’s Porsche Design Tower is mostly sold out, even though construction won’t finish until 2016. “What we’re selling is luxury,” Mr Dezer said. “The buyers already know the brand. They like the style, they like the look and that’s why they feel more comfortable buying it.”
Mr Dezer is also taking reservations for condos at the Armani Casa. The Chateau Group is building the Fendi Chateau (named for the Italian fashion house) a few steps from the Chanel, Gucci and Tiffany boutiques. Nearby is the Faena District, a condo and cultural centre backed by Argentine hotelier and fashion designer Alan Faena. ReutersReuse content