Porsche Design Tower Expands International Interest in Luxury Real Estate in Sunny Isles Beach
As the home of the new Porsche Design Tower, one of the most luxurious real estate development projects in the world, Sunny Isles Beach continues to attract a growing number of international buyers, and contribute to South Florida’s real estate recovery
SUNNY ISLES, FL – Real estate developers continue to capitalize on the increased international cash investments in the Porsche Design Tower and South Florida real estate market. Prominent New York/South Florida developer Gil Dezer of Dezer Properties and Dezer Signature Brands celebrates the tremendous success of the master licensing agreement with Porsche Design Studio, which initiated to expand the Porsche Design Studio’s luxury brand into the residential real estate market.
Real estate broker and expert in the Sunny Isles Beach area, Ulises Cicciarelli says that, even with list prices currently starting at $4,000,000, more than half of Porsche Design Tower’s 132 units have already been sold. Based on his experience, he expects a majority of the buyers to be international investors, buying luxury real estate in Sunny Isles Beach as a second home.
Increases in the number of international buyers, who often have financing difficulties when purchasing a home in the U.S., are also adding to the rise in cash sales. Lawrence Yun, chief economist of the National Association of Realtors®, said the increase in more buyers paying cash for real estate reflected tight lending conditions and an increase in investor sales. NAR research shows that 62% of international purchases were all cash; and that percentage has continually increased since 2007.
“The current state of recovery our real estate market is in translates into opportunity for international buyers; especially those in stable or strengthening economies, such as Canada and Brazil,” said Cicciarelli. “Strong foreign currency coupled with discount pricing, compared to historic prices, have proven to be the biggest factors in turning around our oceanfront properties. I am thrilled to be part of this process by providing clients with the highest possible level of service and real estate market knowledge - before, during, and after each transaction,” he added.
Sunny Isles Beach is known as destination for high-end vacationers, but the Porsche signature on this new development takes high-end to a whole new level. "I could not envision a more exceptional project for our brand" stated Dr. Juergen Gessler, CEO of Porsche Design Group.
Evaluated at $560,000,000, the tower will showcase a one-of-a-kind robotic parking system; allowing owners to have their cars (and themselves) transported, in just 90 seconds, by a glass elevator with panoramic view to their sky garages, directly next to their units. Due to the all glass structure, the vehicles are visible from the inside of the condo.
Units at the Porsche Design Tower will range from 3,800 to 9,500 square feet, and more than one-half of the units feature a duplex layout, with the ocean-facing units including a private pool. The project is expected to be completed by 2016.
More information regarding the property is available at Porsche Design Tower, and further details and buying options can be provided by contacting Porsche Design Tower expert Ulises Cicciarelli at 754-242-6636 or Info@PrestigeFlorida.com .
About Ulises Cicciarelli
Ulises is a South Florida native and a seasoned real estate broker, knowledgeable about all aspects of successfully buying, selling, and renting real estate in South Florida. With a passion for his industry, Ulises Cicciarelli understands and meets each client’s needs, by providing comprehensive services that go from basic market analysis to managing property for absentee owners after closing. Cicciarelli also coordinates multiple related projects, such as managing the remodeling and maintaining properties on behalf of clients. Ulises also offers a concierge service, through which he identifies client needs and connects them with experienced professionals in those identified areas of need. More information can be found at http://prestigeflorida.com.
- Contact Information
- Ulises Cicciarelli
- Real Estate Broker
- Prestige Real Estate Services
- (1) 7542426636
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