The 56-story Residences by Armani/Casa in Sunny Isles is a success.
Developers The Related Group and Dezer Development announced that they have paid off a $315 million construction loan funded by Wells Fargo, shortly after the tower opened.
This milestone came just a few weeks after the tower received its temporary certificate of occupancy.
“Since TCO, we’ve seen multiple closings per day” Gil Dezer, President of Dezer Development, said in a statement.
A $1 billion sellout is now said to be getting closer, with $800 million already in contract and expected to close quickly.
Dezer Signature Brands, an entity of Dezer Development, was the developer, along with Related Group. Dezer said in a press release this week that it still has a master licensing agreement with Porsche Design.
Giorgio Armani’s Armani/Casa oversaw interior design at the new tower, with architecture by César Pelli’s firm.
