Miami Condo Market and Lifestyle Updates
80 Percent of Units Under Contract for the Porsche Design Tower

80 Percent of Units Under Contract for the Porsche Design Tower

by Sep Niakan | August 13, 2014

Dezer Development has 80% of their luxurious Porsche Design Tower units in Sunny Isles already under contract.

Sources have reported $624 million in sales for the 60-story, 132 unit tower. The residences at the 18555 Collins Avenue site start at around 4,800 and go up to 17,000 square-feet of space.

The remaining units that are not under contract are priced starting at $4.8 million, going all the way up to $32.5 million.

Dezer received a $214 million loan for the construction of the Porsche Design Tower project from Wells Fargo in September.

The financing Dezer was given is the largest post-recession loan for a condo project in South Florida. In agreement with its name, Dezer teamed up with the Porsche luxury brand for the tower, and named it accordingly.

 

Source: therealdeal.com

Photo credit: Porsche Design porsche-design.com

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