The Real Deal Miami

Cervera tapped to handle sales of Aston Martin Residences

Downtown Miami project is launching sales amid overall market slowdown
By Katherine Kallergis | December 08, 2016 12:00PM

Renderings of the Aston Martin Residences. Inset: Aston Martin's Marek Reichman, German Coto and Katia Bassi, also of Aston Martin

Renderings of the Aston Martin Residences. Inset: Aston Martin’s Marek Reichman, German Coto and Katia Bassi, also of Aston Martin

The Coto family’s development arm has hired Cervera Real Estate to handle sales of the Aston Martin Residences, a project the luxury carmaker and Coto’s G and G Development launched in October. 

Alicia Cervera

Alicia Cervera

Cervera Managing partner Alicia Cervera Lamadrid will lead sales of the 66-story, 390-unit tower along with sales director Paulie Hankin, a spokesperson told The Real Deal.

The project is launching sales during a nearly yearlong slowdown in the market, with some projects pausing or canceling altogether.

But G and G is forging ahead, with plans to complete and open the sales center by the end of March and break ground on the building during the summer of next year.

The residences will be built on the former Epic East site at 300 Biscayne Boulevard Way in downtown Miami, which fronts the mouth of the Miami River.

Revuelta Architecture and Bodas Mian Anger are the architects of the sail-shaped building. The project will mark the first Aston Martin-branded residential tower, joining the likes of Porsche Design and other high-end carmakers partnering with developers in South Florida.

Units will be priced toward the top of the market in downtown Miami, a spokesperson said, citing condos asking more than $1,000 a foot.

Cervera is handling sales for more than 20 projects and 3,800 units in South Florida, making it the second biggest development marketing firm. Cervera Lamadrid could not immediately be reached for comment.

The project will also have seven penthouses and a duplex penthouse with private pools and terraces. Aston Martin will design the building’s common spaces, including two lobbies, a two-story gym and a full-service spa.

The developer bought the 1.25-acre site for $125 million in 2014. 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.