Aston Martin and G&G Business Developments have started construction a new condominium tower in Miami. Plans call for a 66-story building that will house 391 units. The project, Aston Martin Residences, located at 300 Biscayne Blvd Way, will feature a two level fitness center, boxing gym, virtual golf room, art gallery, two cinemas as well as a full-service spa, beauty salon and barber shop. G&G Business Developments, which is controlled by the Argentinan Cotto family, paid a record $125 million for the 1.25-acre property last year. The price equates to an average land cost of $326,000 for each of the proposed 384 units (or $115 per foot of proposed residential F.A.R.). Aston Martin’s design team, led by executive vice president and chief creative officer Marek Reichman, is designing the development’s interior and amenity spaces.
“We ultimately selected Aston Martin because it’s a brand that resonates globally and is the very definition of timeless luxury. Our tower will appeal to a special type of buyer who values sophisticated design, the company of like-minded neighbors who value the highest caliber of service and luxury, and the opportunity to immerse themselves in the Aston Martin art of living concept the moment they step inside the building.” said German Coto, CEO of G&G Business Developments. He claims that nearly 25 percent of the building’s units are already under contract, with deposits exceeding $150 million.
