Real estate is war — and for residential developers in Miami, luxury is the weapon of choice.
Today’s condo towers aren’t just offering the high ceilings, rooftop pools and European appliances of building cycles past.
Instead, their amenities are the stuff of whimsy, fantasy and incredible wealth: Cigar lounges, dog walkers and monumental sculptures by Jeff Koons. Glass between the kitchen and living room that turns opaque when you entertain and want to shield your guests from the unseemly commotion of cooking. An elevator for your Bentley.
The trend kicked off as developers coming out of the crash realized one thing: To avoid getting burned in the next bust, they needed to demand that buyers put down more money before closing. To justify the 50 percent deposits that became standard, the new projects would need eye-catching, over-the-top amenities that would make the extra investment seem worth it to the ultra-rich.
Read complete story at; In battle for buyers, developers sell over-the-top luxury | Miami Herald Miami Herald
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