The four-story penthouse at the top of Porsche Design Tower, a Miami-area development built with luxury car lovers in mind, has gone into contract, listing records show.
The developers are asking $32.5 million for the unit, making it the second-most expensive condo listing in Sunny Isles Beach, a barrier island north of Miami, according to listing site Zillow. The most expensive unit is a penthouse in the nearby Jade Signature tower, which hit the market in January for $32.9 million.
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The listing status for the Porsche penthouse changed to pending just days before Porsche Design Group and building developers, Dezer Development, set off fireworks in honor of the tower’s grand opening on Saturday.
The deep-pocketed buyer of the building’s highest, and most expensive, unit will get nearly 20,000 square feet of living space and room for 11 cars—which the owner can park 56 stories in the air. The building’s novelty feature is what the developer coined a "Dezervator," essentially a high-powered automobile elevator that brings drivers from the street level to a parking at their apartments, all while staying seated in their cars.
The building’s highest unit spans from the 56th floor to the 60th floor and has two private pools, up to six bedrooms, six-and-a-half bathrooms, a terrace, two balconies and two summer kitchens.
The looming mega-sale may help prove that developers teaming up with luxury brands can be a winning formula amid an otherwise struggling luxury market. Miami is suffering from an oversupply of high-end homes that has caused some condo developers to cancel or postpone projects.
Other branded building in the works in the area include the Aston Martin residences, a 66-floor condominium in Biscayne Bay, Miami; the 56-story Armani/Casa tower also in Sunny Isles Beach; and Fendi Château Residences, a boutique 12-story building in Surfside.
At its grand opening this past weekend, Porsche Design Tower announced it had sold 126 of 132 units in the building. The four-story penthouse is one of six units remaining, according to a news release from Porsche Design Group.