Real estate meets design in Miami: panel

Miami /
May.May 12, 2016 01:30 PM

Developers of luxury condos increasingly need to team up with top architects, designers, artists and high-end brands to ensure their buildings stand out in the competitive global market, industry leaders said Wednesday during a panel discussion in Miami’s Design District.

Today’s high-end buyers worldwide are “a lot more design savvy,” said Alison Antrobus of Miami-based architecture and interior design firm Antrobus + Ramirez.

They seek quality in every aspect of a luxury condo building, from exterior and landscape design to wall finishes and even the personalized services typically offered by five-star hotels, such as multilingual concierges, said Dora Puig, principal real estate broker and owner of Luxe Living Realty.

That explains why Ritz-Carlton, St. Regis, Fendi Casa, Armani and other resort and fashion brands plus some 20 Pritzker Prize winning architects now are active in Miami’s luxury condo market. They’ve been recruited to help satisfy more sophisticated buyers lured to Miami largely since the 2002 debut of the annual Art Basel Miami Beach show catapulted the area onto the world’s cultural map, panelists said.

The latest luxury buyers in Miami want more than a vacation condo by the water — often decorated in white, with linen, chrome and big windows, said designer Ruby Ramirez of the Antrobus + Ramirez firm.

More families now are opting to live full-time in Miami high-rises, some moving from high-tax areas of the United States to cut costs, or others leaving cities in Latin America or elsewhere that are less safe, said David Martin, president of Terra Group.

Some local families also are leaving behind big, suburban houses for smaller “homes in the sky,” so they can be near parks, restaurants, schools and other amenities often in walking distance, Martin said.

“There is this theme that people are looking for simplicity and efficiency” in luxury condo living, Martin said. “People are not looking for extravagance anymore.”

The condo buyers are coming from a wide range of countries. Last year, the Related Group sold 2,500 condos in the greater Miami area to 92 nationalities, said Carlos Rosso, president of Related’s condominium division. The bulk of Related’s buyers long have come from Latin America. But with some South American nations’ economies now ailing, Related is targeting other regions, too. In 2015, it sent a team to promote sales in France and soon, said Rosso, will deploy a group to market Miami condos in Turkey.

Assembling teams of developers, designers, realtors and other heavy-hitters to appeal to elite global buyers has its challenges, of course. Egos can clash: “You have to build a team that has good chemistry,” said Martin, so teammates can have fun “and really enjoy the process.”

It helps to unite the team early, so “we as developers and designers work together to define what is the lifestyle we’re selling,” said designer Antrobus. Too often, interior designers are called in late, she said.

One element of interior design gaining in popularity in Miami: higher ceilings.

On exclusive Fisher Island, 10-foot ceilings now are standard, and some condos offer 18-foot heights, Puig said. Higher ceilings let in more light and also, provide more wall space to display art, she said.

At Park Grove, a new Coconut Grove luxury project by Terra and Related featuring architecture by Rem Koolhaas, condos have ceilings at least 12 feet high, Rosso said. That means fewer floors offered per tower.

“We shouldn’t be selling by square feet,” joked Rosso. “We should be selling by cubic feet, because we’re giving people a lot more space.”

“The relationship between real estate and design” panel, held at the showroom of Brazil’s luxury interiors brand Ornare, was part of the ongoing Maison & Objet Americas, an international trade fair for furnishings and design.


Related Articles

arrow_forward_ios
After the construction of Eighty Seven Park (Google Maps)
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Avra Jain closes on Hialeah industrial property for entertainment project
Avra Jain closes on Hialeah industrial property for entertainment project
Avra Jain closes on Hialeah industrial property for entertainment project
Developers David Martin, Russell Galbut and renderings of the project.
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
Terra’s David Martin and the site now at 1177 Kane Concourse, Bay Harbor Islands (Google Maps)
Terra puts Bay Harbor Islands mixed-use dev site under contract
Terra puts Bay Harbor Islands mixed-use dev site under contract
Related's Jorge Perez, Metro's Daniel Hughes and Terra's David Martin with Two Park Grove
Commercial brokerage chief buys PH at Two Park Grove for $10M
Commercial brokerage chief buys PH at Two Park Grove for $10M
Palazzo Della Luna and (from left) Mayi de la Vega, Dora Puig and Rose Bauer
Fisher Island luxury broker loses legal battle over $520K commission
Fisher Island luxury broker loses legal battle over $520K commission
Dora Puig with the Venetian Islands home (Google Maps)
Dora Puig buys waterfront Venetian Islands home next door to hers
Dora Puig buys waterfront Venetian Islands home next door to hers
David Martin and Russell Galbut with a rendering of 500 Alton Road
Miami Beach developers nab $345M construction loan for 500 Alton
Miami Beach developers nab $345M construction loan for 500 Alton
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...