The Real Deal Miami

Russian investor shells out $5M on Porsche Design condo in Sunny Isles

Moscow investor Chingiz Askerov also owns condos at Brickell City Centre, Trump Hollywood
By Katherine Kallergis | January 03, 2017 11:15AM

Porsche Design Tower

A Miami-based real estate investor in Moscow upgraded to a Porsche Design Tower condo for $5 million.

Records show Chingiz Askerov purchased unit 1605 at the newly completed luxury high-rise in Sunny Isles Beach. Askerov owns commercial and residential real estate in Moscow, including the Domodedova Shopping Mall, he told CNBC in 2015. At the time, he said the fall of the ruble had negatively impacted the value of his holdings in Russia.

Since at least 2011, Askerov has been investing in South Florida. He and his wife Marina own a unit at Trump Hollywood in Broward County, and records show Askerov controls entities that own at least three units at Brickell City Centre’s Reach condo tower.

Dezer Development, led by Gil Dezer, completed Porsche Design Tower toward the end of last year. The 132-unit, 60-story building is known for its “Dezervator,” a patented car elevator that takes residents up to their units, in their cars. Amenities include balcony plunge pools, and racing and gold simulators. Dezer has said that he’s planning another luxury car-branded condo tower with a similar elevator system in Sunny Isles Beach.

Since he started closings at Porsche Design, at 18555 Collins Avenue, in November, records have revealed buyers such as Mexican billionaire Carlos Peralta Quintero, who paid $6.54 million for unit 1101, Colorado Rockies player Carlos “CarGo” Gonzalez, Brazilian media mogul Edir Macedo, known as “the Bishop” and Russian businessman Igor Yakovlev.

The tower has an estimated $840 million sellout. At least 62 unit closings have been recorded in Miami-Dade County records so far.