Residences by Armani/Casa in Sunny Isles Beach scored its temporary certificate of occupancy, and closings are expected to begin this week, The Real Deal has learned.
Gil Dezer, CEO of Dezer Development, said the 308-unit luxury condominium tower at 18975 Collins Avenue received its TCO on Friday, and closings are scheduled to begin this Friday. He expects 30 to 40 closings by January. Residences by Armani/Casa has presold about 270 units or 87 percent, he said.
The tower is a joint venture between Dezer Development, the Related Group and the Armani Group. It is the first Armani/Casa-branded building in the United States.
It was designed by César Pelli, the internationally known architect who created the Adrienne Arsht Center for the Performing Arts in Miami. It was the last project he designed before his death in July, Dezer said.
Units range in size from 1,350 square feet to 4,700 square feet. Condos are priced from $1.6 million to more than $17 million for the Giorgio Armani-furnished penthouse that comes with a trip to Italy to meet Armani.
“There’s nothing like it in Miami,” Dezer said. “We went crazy on this one. We spent a lot of money here and you can see it.”
Every design feature, from light fixtures to furniture was custom designed by Armani. “It’s a true one-off, one of a kind, never to be repeated again,” Dezer said. The Armani design team is in town, putting finishing touches on the project, he added.
The developers broke ground in 2016 and secured a $305 million construction loan. That year, the project also opened a $10 million sales center.