The Real Deal Miami

Four years from completion, Porsche Design condo already has 15 buyers

February 23, 2012 03:45PM

Developer Gil Dezer and the Porsche Design condo

So popular is Gil Dezer’s forthcoming Porsche Design condominium in Sunny Isles Beach that he’s met with buyers before he could even establish a sales center, let alone a website for the building.

The 132-unit structure, known for its robotic parking system, is being built in partnership with Porsche Design and won’t break ground until the second quarter of 2013 with completion slated for three years later, according to the New York Post.

Dezer had planned a $3 million sales center to open in June when sales were set to launch. But demand was so strong that buyers began requesting private meetings with the developer. To ensure he was only taking meetings with serious buyers, he mandated that potential buyers deposit $100,000 in escrow for the condos — priced between $3.9 million and $14.5 million, or about $1,000 per square foot — before he would take a meeting. According to the Post, 27 buyers have plunked down the money for meetings and 15 have already reserved them with 10 percent deposits. [Post]