Aston Martin and Coto family launch car maker’s first branded condo tower in downtown Miami
Another luxury brand is joining the likes of Porsche Design, Fendi, Armani/Casa and Bentley in South Florida: Aston Martin will brand its first residential tower, the company announced on Wednesday.
The high-end sports car company is partnering with the Coto family of Argentina to launch Aston Martin Residences on the former Epic East site at 300 Biscayne Boulevard Way.
Revuelta Architecture and Bodas Mian Anger are the architects of the sail-shaped building, a 66-story, 390-unit high-rise at the mouth of the Miami River. G and G Business Developments, the Coto family’s real estate arm, and Aston Martin plan to open the sales center in March, the developer announced during the launch Wednesday.
Katia Bassi, managing director of Aston Martin brands, said the development is “not a brand-slapping exercise” for the car maker. She said Aston Martin has been approached by multiple developers, in Miami too, in the past. “We are not everywhere for a reason,” Bassi said. “Entering into the real estate has been a priority but we wanted to do it the right way.”
Aston Martin’s design team, led by chief creative officer Marek Reichman, will design the interior spaces for the building, set to break ground next summer and open in 2021. The car company’s branding will touch door handles, leather, color palettes and reception desks, down to the stitching, Reichman said.
Sales will launch in November, German Coto said. The project is launching during a slowdown in the market, with some projects pausing or canceling altogether. When asked why now, Bassi said, “because we believe the location is incredible. We don’t believe a project like this with the Aston Martin brand could be affected by the markets.”
The project plans to have two private lobbies, a two-story fitness center with a spa, an infinity pool on the 55th floor, a screening room, British club, and a yacht marina, according to a press release. Reichman joked the screening room would only play James Bond films.
Units will range from one- to four-bedrooms, as well as seven penthouses and a duplex penthouse with private pools and terraces.
The developer, Riverwalk East Developments LLC, paid $125 million for the 1.25-acre parcel in 2014, out of a group of 15 bidders. Alfredo Coto’s family runs the large Coto Supermarkets chain in Argentina, with development projects in Latin America and Europe. They bought the site from developers Ugo Colombo and Diego Lowenstein, who originally planned to build Epic’s second phase.
The Coto LLC submitted plans to a Miami River committee earlier this year. The partnership with Aston Martin is about a year in the making, Coto said on Wednesday.
The developer also owns a 1-acre site south of the Miami River and near Brickell City Centre.