Jules Trump launches sales of second Estates at Acqualina tower

Miami /
Feb.February 03, 2020 09:45 AM
Jules Trump and the Estates at Acqualina tower

Jules Trump and the Estates at Acqualina tower (Renderings credit: ArX Solutions)

Trump Group is launching sales of the Estates at Acqualina’s second oceanfront tower in Sunny Isles Beach.

The announcement comes after reaching more than 80 percent presales at the luxury condo development’s south tower.

Developer Jules Trump is unveiling a new sales gallery at the site, with a model unit of a four-bedroom 4,385-square-foot residence. And he is promising a Fendi and Baccarat La Maison package of furniture worth $800,000 to buyers who pay preconstruction prices at the second tower, until an unspecified date.

The Estates at Acqualina’s two towers are under construction at 17901 Collins Avenue. The first, a 49-story story building called the south tower, will have 154 units. So far, more than 80 percent of the units are presold, said Michael Goldstein, president of sales at the Estates of Acqualina. Remaining units, ranging from 3,287 square feet to 5,522 square feet, are priced from $4.6 million to $11 million. A two-story, 9,083-square-foot penthouse is available for $31 million, Goldstein said.

Construction of the south tower is now at the 48th floor.

The second, a 52-story tower renamed the “boutique tower,” will have 94 units, with no more than two units per floor and private elevators. So far, 25 units, or 27 percent, are presold, Goldstein said. Prices range from $6.2 million to $32 million for the penthouses.

Construction is now at the sixth floor, said Trump, who is no relation to the president.

Designed by STA Architectural Group, the Estates at Acqualina will also have three villas, priced from $13 million to $21 million, which have all been sold.

Trump said South Florida’s ongoing luxury condo market slowdown has not put a damper on sales. “Sales have been extremely strong, and we are over 80 percent sellout at the [south] tower, and based on that success we went ahead with the boutique tower, which is having an extremely strong reception from buyers,” he said.

“Seventy percent of the business comes from people with some association to the brand — the hotel or residences of other buildings [Acqualina or Mansions at Acqualina] or users of the restaurant,” Trump added.

Overall, buyers have hailed mostly from high-tax states like New York, New Jersey, Connecticut, Illinois, California, Massachusetts, as well as from Canada, Mexico and Brazil, Goldstein said. Rather than the usual 50 percent deposit requirement for new condos in the Miami area, the requirement at the Estates at Acqualina is 45 percent.

The project will be completed in two years, Trump said. It will feature common areas created by the late designer Karl Lagerfeld.

The three- to seven-bedroom units will be equipped with a La Cornue gas range and Sub-Zero appliances, imported stone countertops, smart-home technology and a fireplace.

The Estates at Acqualina will also include 45,000 square feet of amenities, including a spa and fitness center with a boxing ring, an ice-skating rink, bowling lanes, movie theater, golf simulator, a speakeasy and cigar lounge. A restaurant is expected to be announced later this year.

The grounds will include landscaped gardens, infinity pools, a FlowRider for surfers, a basketball court, bocce court, dog park, soccer field and 502 feet of oceanfront.

In October 2018, Trump signed a $600 million contract with Coastal Construction to complete both towers and the amenity villa. Earlier that same month, Trump Group scored a $558 million construction loan from Bank OZK that marked the largest condominium construction loan ever in Miami-Dade County.


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