Have you ever wanted to live in a Porsche dealership? Of course not. But what about a Porsche condo?
Around Miami, developer Gil Dezer — the guy who first licensed former President Donald Trump’s name, a la Trump Towers — has built Porsche- and Armani-branded residences, per The New York Times.
- The Porsche Design Tower (132 units, $4m-$32m) features a “Dezervator” that takes cars up to owners’ condos where they can be parked on display.
- Giorgio Armani himself designed tapestries and chose furniture for Residences by Armani Casa (308 units, $36k-$11.7m)
Sounds intense, but the market for luxury branded condos is actually expected to grow 12% each year through 2026.
Branded residences…
… aren’t new, but are typically associated with hotel brands, either as standalone properties or incorporated into an existing hotel. Hotels are already kinda like condos — plus, who doesn’t love the amenities?
But now, many other luxury brands are getting in on the action. Obviously, they earn licensing and other fees from developers, but more importantly, it helps them evolve into lifestyle brands.
Take Equinox…
… The gym chain with the motto, “It’s not fitness, it’s life.”
It operates wellness-focused hotels, residences, spas, and coworking spaces. Gym members get access to perks like Dorsia, a members-only restaurant reservation platform seemingly named after the restaurant serial killer Patrick Bateman could never get into in American Psycho.
When Aston Martin debuted its Miami condo, the $50m penthouse came with the keys to one of 24 Vulcans and a membership to a private track club.
Meanwhile:
- Japanese restaurant chain Nobu is building a 700-unit condo project in Toronto with a 15k-square-foot restaurant.
- Hotel design company Yoo has several residential properties inspired by various designers, including Jade Jagger and Steve Leung.
- Magazine publisher Conde Nast, which already operates a handful of bars and cafes, is also eyeing the space.
Obviously, we hope they call it Condo Nast.
