Miami has long been known as a prime market for luxury real estate. Despite the most recent turmoil in the city’s luxury market, the general trend is an increase in Miami real estate valuations. This is by in large due to the market’s adapatation to a new wave of buyers. Two new additions to the skyline are set to make their appearance in the coming years. Here’s a look at them.
The Aston Martin Residences
Aston Martin designs cars and yachts, did you know that they are also in the architecture game?
In 2014, the Coto family of Argentina purchased a small site of land off of the Miami River. At the time and still to this day, the land is regarded as the highest price per sq. ft. of undeveloped land in South Florida. Now on that land a new luxury property is set to be built; one that will join the ranks of Porsche, Armani, Fendi, and Missoni-backed properties in the city; one that will be built in partnership with Aston Martin.
You might know of Aston Martin as the producer of James Bond’s cars in every Bond movie since Goldfinger or maybe you already own one of their cars yourself? In partnership with Coto, Aston Martin will be building the Aston Martin Residences—a 66-story condo tower replete with fitness centers, multiple lobbies, and a spa. It’s part of the companies initiative to be present “in all of the cities where it’s important to be,” says Katia Bassi, vice president of the company.
The Coto family, the Argentinian backer of the project is banking on three things working in the developments favor: brand appeal, an excellent location right on the Miami River and Biscayne Bay, and the ability of the Coto family to finance the project without a construction loan…