Car Companies Are Getting Into The Real Estate Game
With the auto industry in the midst of challenges, scandals and uncertainty, some car companies are looking at real estate investments as a hedge, and as lifestyle extensions of their brands.
Two super high-end residential projects in Miami Florida include partners Porsche and Aston Martin.
In Sunny Isles Beach the Porsche Design Tower rises 60 stories featuring apartments from 4,000 square feet to the 17,000 square foot Penthouse.
Each unit has a personal glass elevator with panoramic views which residents ride along with their prized vehicles to their apartments. The Penthouse comes with two swimming pools and a 4 car parking area in the sky.
Of its 28 units all but six were sold as of last month, priced from $7 to $32.5 million.
In Miami, overlooking Biscayne Bay the Aston Martin Residences is a 390-unit luxury residential development with a marina slated to open before the summer.
Aston Martin, long associated with super spy James Bond, will have its signature style on display from door handles to signage and leather and wood accents. The themes will be carried through in all public areas from the reception lobby the to infinity pool deck.
Individual condo buyers can also choose to have the Aston Martin design team follow through the bespoke theme through in their own units for an additional decorating fee.
The prices of the condos will start at $2 million with an average price of $1,000 per square foot.
In another real estate related move the Audi At Home ride-share program — a brand centric version of UBER and LYFT — is being introduced as a premium amenity through a number of luxury residential developments in Sand Francisco, Miami and soon in other cities including very likely Philadelphia.