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High-End Living in Miami With Fashion and Fast Cars:A slowing market in Florida tests the draw of Aston Martin, Porsche, Armani and luxury brands that license their names to real-estate developers, as research suggests ‘designer properties’ don’t command a premium
At the same time, the inventory of newly built residences continues to rise, with 4,868 new condo units slated for delivery this year, the most since 2008, according to data from brokerage Fortune International Group. The Aston Martin tower specifically could face headwinds, said Peter Zalewski, a principal with the Miami real-estate consultancy Condo Vultures, because it’s just getting out of the ground as the market reaches peak supply. (Developers declined to discuss the percentage of units in luxury-branded buildings that have been sold.)
“They’re swimming out and the crest of the wave is coming right towards them,” he said.