The Real Deal Miami

Serious inquiries only: $100K deposit required for first look at Estates at Acqualina north tower

Trump Group offering prospective buyers a view of floor plans and pre-opening prices with refundable deposit
By Ina Cordle | December 05, 2018 06:00PM

Rendering of the Estates at Acqualina, Jules Trump (Credit: The Closing)

The Trump Group is offering a limited number of brokers’ clients the chance to peruse floor plans and pre-opening prices for The Estates at Acqualina’s north tower in Sunny Isles Beach. The catch: A prospective buyer must pay a $100,000 refundable deposit to get on the list.

Developer Jules Trump said he is limiting the offer to brokers his firm has dealt with before, and will cap the reservations at 15.

A buyer can use the deposit toward the cost of the unit, which Trump said will be offered at a discount to the select few. “It will be pre-opening prices, which are better than pre-construction prices,” he said, declining to provide the prices.

Units at The Estates at Acqualina south tower, which is now 70 percent pre-sold, range from $4.2 million to $35 million. Units will range from 2,917 square feet to 9,000 square feet, and from three to seven bedrooms. The project will also feature three single-family homes. Completion is expected in late 2020.

Construction is underway on both 50-story towers of the $1.6 billion project at 17901 Collins Avenue. In October, Trump signed a $600 million contract with Coastal Construction to complete both towers and the amenity villa of The Estates at Acqualina, ranking as the largest contract for a condominium project in South Florida.

Trump, (no relation to the president) said the marketing maneuver is geared to offer an advantage to loyal brokers, and isn’t a show of desperation amid a slow market for condo sales. The $100,000 refundable deposit will mean only serious buyers will apply.

“We appreciate those brokers who have been supportive and we’d rather see their clients get great deals, hence the idea,” he said.

Trump said November pre-sales numbers totaled $50 million at the south tower. Eight units sold, at prices ranging from $3.1 million to $12 million. The buyers included three from Florida, two from Mexico, one each from Argentina and Spain and one from a European country Trump declined to name.

The development will feature common areas created by Karl Lagerfeld.

The Estates at Acqualina will also include 50,000 square feet of amenities including a spa and fitness center with a boxing ring, an ice-skating rink, bowling lanes, movie theater, golfing and Formula One simulators, a speakeasy and cigar lounge. A restaurant is expected to be announced early next year.