The Real Deal Miami

Fendi Chateau 88% sold, on target for summer opening

Just 20 percent of 58-unit project's buyers plan to make it their primary home

May 03, 2016 10:30AM
By Ina Cordle

  • Print

Fendi Chateau Residences, the luxury condo tower under construction in Surfside, is now 88 percent sold, and is scheduled to be completed this summer, The Real Deal has learned.

The first Fendi residential building in the world, developed by the Chateau Group, spans three acres with 300 feet of oceanfront at 9365 Collins Avenue. The 12-story tower has 58 flow-through condo units, priced from 6.3 million to $25 million, averaging $1,900 per square foot, Elena Christodoulou, vice president of sales for Fendi Chateau, told TRD.

After topping off the building last year, workers are now putting the finishing touches on the outdoor landscaping and the amenities area, she said. Property records show the developers paid $50 million for the three parcels that compose the oceanfront site, in 2012.

So far, buyers hail from Canada, the Northeast, Latin America mostly Mexico, Brazil, Venezuela and Europe — including the United Kingdom and France. Just 20 percent of the owners expect to make Fendi Chateau their primary residence, Christodoulou said. Maintenance is $1.20 per square foot.

Designed by Arquitectonica, the units range in size from three bedrooms with 3,300 square feet to three penthouses with more than 7,000 square feet, each, with a 4,000-square-foot private rooftop pool deck and summer kitchens. So far, two of the penthouses are under contract and one is available, Christodoulou said.

The condos come decorator ready, finished with Fendi Casa kitchens that have quartz countertops, lacquer cabinets and Gagineau appliances, as well as Ornare bathrooms with floor-to-ceiling Italian Calacutta marble, all on display at the project’s sales gallery. The units will also have private elevators, nanny rooms and bathrooms.

“It’s for someone who wants exclusive, private boutique living in walking distance to everything,” Christodoulou said.

When completed, the project will also have multiple pools, a Jacuzzi, 12 private cabanas, a restaurant and bar for the residents and guests, a fitness center and a spa. Additional amenities include a supervised kids’ club, private theater with popcorn machine, a private dining room, wine cellar and Shabbat elevators. A concierge service, called Luxury Attache, will be on hand to arrange babysitting, housekeepers, handle grocery shopping and run other errands.

“It will have all the services of a five-star hotel,” Christodoulou said, “without the hotel component.”