Aston Martin is stepping into the true property enterprise.
The British luxurious automaker, which is carefully related to the James Bond film franchise, introduced it is partnering with a property developer to construct a brand new 66-story residential tower in Miami, Florida.
The businesses broke floor on the brand new Aston Martin Residences on Wednesday, and count on the constructing shall be completed in 2021.
A transfer into luxurious actual property could appear uncommon for an automaker that is constructed a worldwide model based mostly on its excessive efficiency automobiles. However Aston Martin is attempting to department into new sectors exterior its conventional area of interest.
Simply weeks in the past it introduced it was collaborating with Triton Submarines to construct a handful of luxury submarines with a price ticket round $4 million every. Final 12 months, it unveiled a powerboat. It has even collaborated on high-end child strollers.
Aston Martin says it’s being very choosy in regards to the tasks it collaborates on to keep away from diluting its model.
“Partnerships solely occur if it is the proper associate,” mentioned Marek Reichman, Aston Martin’s chief artistic officer.
The brand new curved luxurious constructing, which is formed like a sail, will characteristic 391 condos, swimming pools, a digital golf room and two cinemas. The residences, which vary from 700 to 19,000 sq. toes, are priced from $600,000 to upwards of $50 million.
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The mission is being led by property developer G&G Enterprise Developments.
G&G CEO German Coto mentioned partnering with Aston Martin would assist elevate the standing and design of the constructing.
“We realized we would have liked a model that might take the entire mission to a brand new [level],” he mentioned.
Aston Martin will design the frequent areas shared by residents, which is able to characteristic “gray and black carbon fiber furnishings.” It is going to additionally work on some exterior components.
The automaker is licensing its title to be used on the constructing.
G&G, which has already acquired $150 million in deposits, expects it’s going to make about $1 billion from the condominium gross sales.
It is not the primary automaker to get into Miami actual property. One other 60-floor tower within the space carries the title of Porsche Design.
CNNMoney (London) First printed October 19, 2017: 12:19 PM ET
