After Porsche, Armani, Fendi and Missoni, it is now the turn of Aston Martin to brand a luxury condo project in South Florida. Aston Martin has partnered with wealthy Argentine developers (G and G Business Developments) on a 66-story condo tower called the Aston Martin Residences at the edge of the Miami River in downtown Miami.
The licensing deal marks the auto company?s first venture into real estate. A team from Aston Martin will design the building?s common areas and amenities, including lobbies, fitness centers and a spa.
?It?s not a brand-slapping exercise,? said Katia Bassi, a vice president at Aston Martin. The company wants to make its mark ?in all the [cities] where it?s important to be, and Miami is one of those,? she said.
But Argentina?s Coto family, which paid a record $125 million two years ago for the vacant waterfront land next to the Epic Hotel, says it has enough horsepower to get the 390-unit project going.
Three factors will work in the tower?s favor, developer German Coto said at a press conference: A brand name with global appeal. A coveted location where the Miami River meets Biscayne Bay. And the Cotos themselves, who have pockets so deep they say they can afford to build the high rise without a construction loan.
?We need to give buyers a unique experience,? Coto said through a translator. ?That?s why we thought about Aston Martin, because we?re talking about luxury, we?re talking about authenticity.?
Architects Luis Revuelta of Miami and Boda...