Success: $1B Armani Tower In Sunny Isles Pays Off Construction Loan Just Weeks After Opening & Is Nearly Sold Out

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.

 

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Anonymous

It’s a beautiful classy building but I’m not crazy about the area.

Anonymous

Who gives a rat’s-ass about you not liking the area? Units in this building will sell like good dope because a lot of people prefer to live in Sunny Isles Beach.

Anonymous

*Vacation

Anonymous

Dirtiest beach in the city. 300 days out of the yr, it’s in the dangerous fecal category. To the person using the rat to retaliate, I guess he likes swimming in the same way his mouth rattles

The feces of the species

Your post is in a high fecal category.

Anonymous

Try dirtiest beach in the county! Dade county water & sewer dept has become a joke as Mayor Jiminez has diverted funds to his pet projects, leading to frequent sewer leaks that pollute the beaches and destroyed the bay.

Anonymous

I guess this dumbazz thinks beach water stays stagnant. Water flows north south east and west. If the waters along Sunny Isles Beach is full of fecal matter, then when it flows somewhere else, say, North Miami Beach, don’t you think they’re going to have the same problem numbskull?

Anonymous

Yes you’re absolutely right but the biggest concentration is in Sunny Isles. Surprisingly, SoFi Beach is the cleanest. Check city records.

Anonymous

“People prefer to live in Sunny Isles Beach” – you mean silly foreign investors who will never set foot in Sunny Isles Beach buying what their over-commissioned brokers sell them with a fancy pants designer name?

Anonymous

Jealous because you don’t have the money to keep up with them?

Anonymous

I would actually like to know how’s many “real full time residents” occupy these buildings. Most are investment properties, or a dock to park money laundered cash from Russia and SoAm.

Anonymous

What if you found out that 38% of all Sunny Isles Beach condos were foreign-owned and empty?
How does that change anything?

Anonymous

Exactly! I don’t care who’s owning and only staying in these condos only a few months out of the year, every one of them has to pay taxes to the county. These clowns who wanna knock foreign buyers are benefiting in ways they don’t understand.

Anonymous

I didn’t know it was illegal to buy a 2nd or 3rd home and just use it whenever your heart desires. Oh well, I guess some people are just touchy about everything. I guess now we also have to dictate how to spend your money.

Gomez

I guess you must live on Palm Beach on billionaires row.

Afi K. James

the dezer’s know how to make shiny classy skyscrapers and this is so cool.

Anonymous

The lack of parking podium is refreshing.

Anonymous

How much profit ?

Anonymous

Enough for Dezer to buy a few more exotic cars and Perez some more art.

Anonymous

haha nice one there.

Anonymous

The reflective glass looks great, very similar to the rendering. Something you don’t see often.

Anonymous

A twin version of this on the Villa Magna site would be beast.

Anonymous

Miami winning …. Miami winning!!!!

Anonymous

Isn’t this in Sunny Isles?

Anonymous

Miami whining!!!!!

Anonymous

Yeah, Sunny Isles gets something like the Porsche tower while Miami gets (gulp), Natiivo.

Anonymous

It is all metropolitan Miami.

Anonymous

How much for one of those units in the place next door ? 😉

Anonymous

Do some research and find out.

Whew.. I said before and I’ll say it again, “people with smart phones are some of the dumbest people I’ve ever seen.”

Anonymous

The answer IS…. only 1 has sold (for 150k) since 12/2017 because Dezer owns the majority. LMAO

Anonymous

Smart

Anonymous

I used to live in the 2 story building directly to the north……paid $500/mo 20+ years ago…no view from the unit but I could go straight from the unit to the beach sand no shoes no shirt. I now live in a hi-rise oceanfront a few miles north and man do they frown on the no shoes no shirt thing in the elevators and lobby.

Anonymous

As well they should. Class up your act.

Anonymous

Why?.. he’s paying the cost.

Anonymous

Had a 25 year old hot Columbian princess who would ride the elevators in her bikini top and one of the 80 year old board members griped. “Class up your act”====”haven’t had sex in 20 years”.

Anonymous

By the way, you misspelled Colombian.

Anonymous

Who GAF? Her rack looked fantastic.

Anonymous

Sounds like he was raised in a barn.

Anonymous

Sounds like you are still being raised. Maybe one day you’ll become a functioning adult.

Anonymous

^ He or she is a Mormon.

Anonymous

Not a Mormon, but a prude moron.

Anonymous

Not bad!