$1 Billion Armani Tower Breaks Ground In Sunny Isles

Construction is now underway on what Jorge Perez says will be Related Group’s most expensive project ever built.

Foundation work for the 649-foot Residences by Armani/Casa tower in Sunny Isles began late last week. A Notice of Commencement was signed by Dezer Development’s Michael Dezer, a 50-50 partner with Related Group on the project.

Construction is expected to cost nearly $1 billion, Perez claimed in an interview with the Herald. The sales center alone cost more than $10 million to build, developers say.

About 155 out of 308 units, or 50 percent, are in contract at an average price of $1,300 per square foot, according to the developers.

Cesar Pelli is the design architect.

 

(above photo: eduardo cofresi)