Quietly Being Marketed To Miami Penthouse Buyers: A Free Tesla Model S

Feb 7 2014, 6:12pm CST | by

Quietly Being Marketed To Miami Penthouse Buyers: A Free Tesla Model S

The latest perk to hit the luxury Miami condo market: a free Tesla Model S. Developer Kevin Maloney of Property Markets Group is pairing the electric sedans with penthouses at three of his South Florida luxury high-rises.

The cars are quietly being offered at PMG’s Echo Aventura and Echo Brickell towers in Miami, and its Muse high-rise in Sunny Isles. Penthouse buyers get customized versions of the Model S, the latest from Elon Musk’s Tesla Motors, coveted for its cool factor. That is, buyers get the car if they play their cards right. “We marry them with some of the penthouses,” explains Ryan Shear, senior managing director for Florida at PMG. “It’s a very soft sell.”

How exactly does that work? Basically, the cars are a deal-sweetener to buyers who make clean, generous offers. They’re not as likely to be on the table for those who prefer to nickel-and-dime. MSRP for the Model S: $69,000. Starting prices for the penthouses (yes, there are multiple at each tower) at Echo Aventura are $3 to $3.5 million; at Echo Brickell $10 to $11 million and at Muse $13 and $15 million. Echo Aventura is the only of the three projects that has actually broken ground.

Tesla Model S Comes With Miami Penthouse

The marketing of the cars also underscores the fact that the definition of “penthouse”—which once simply meant the singular residence situated on a building’s top floor–is expanding. Across just three buildings, PMG is selling 32 penthouses. Echo Aventura stretches not only up but out, curving like a horizontal ‘S’, allowing the developer to sell 18 side-by-side penthouses, each with its own rooftop deck and pool. At Echo Brickell, which rises 60 stories, PMG is marketing 16 of its 190 units as “penthouses.” Of those, four are on the top four floors and another 12 are two-per-floor units on the floors just below. Muse, which went to market just two weeks ago, is selling the top two floors as penthouses.

That’s a total of 32 penthouses. Shear says PMG initially reserved 25-30 cars, but can always get more.

“The ideal buyer for us buys a Tesla or an electric car and is technologically-savvy,” says Shear. “We’re trying to infuse luxury with technology.”

As a start, each of the towers comes with charging stations to power up the fleet of Teslas. Muse will feature safes built into leather closets that can only be opened using biometrics. Seventy-five-inch television monitors will appear to be mirrors. Window shades will respond to the signals of the sun. Though Muse is the most technologically-advanced of the three towers, all three boast in-wall speakers and employ an Apple iPad (embedded into the wall) to control heat, lighting, and sound. And unlike most S. Florida condo projects, which come “decorator-ready”—a misnomer that actually means unfinished, except for kitchens and bathrooms—these towers will come complete with flooring and tile, as properties do most everywhere else in the country. The homeowners association will even include IT guys on staff, and complimentary pet-walking services. “It’s literally just come with your clothes and your furniture,” says Shear.

Hence Tesla, with its marrying of technology and luxury, is a branding fit. Normally, perks like free cars might indicate a desperate market, notes Rick Hilton, owner of Beverly Hills firm Hilton & Hyland. “I can recall where they would throw a car in on the package on the house–a Porsche or some luxury car, Hilton says. “Those were the soft years, the early 80s as I recall.” Not so in Miami. What was once a suffering market with a glut of inventory has recovered, and developers are now charging deposits of 50% or more of the purchase price on luxury condos. Thanks to the flood of foreign buyers into Miami—largely from Brazil, Venezuela, Colombia, Argentina, and Mexico where buyers are used to paying cash–developers can get it. PMG’s Shear reports that Echo Brickell is more than 60% sold out, Echo Aventura 70%. The less expensive units sell more quickly than the penthouses.

PMG is the first South Florida group to pair with Tesla, but it is certainly not the only developer to offer quirky perks to entice buyers. Argentine developer Eduardo Constantini will has marketed to would-be buyers for his Oceana Bal Harbour project by offering them joint ownership of two larger-than-leff Jeff Koons sculptures, to be displayed on the building’s ocean-facing breezeway. The closest marketing concept is Gil Dezer’s Porsche Design Tower, which features car elevators that lifts residents’ vehicles into the core of the building, so that they can see from inside their apartments that their treasured wheels are safe and sound.

Source: Forbes Apple

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

iPhone 7 To Feature A New Flash Camera Unit
iPhone 7 To Feature A New Flash Camera Unit
Apple iPhone 7 has been expected to make an entry in late 2016. The expected month is September, which is the usual month of Apple flagship launch.However, the late launch never bothers the people who spread rumors....
 
 
Apple Is The Fourth Luxury Brand Of The World
Apple Is The Fourth Luxury Brand Of The World
Apple Watch has surpassed all the watches and has ranked as the topmost talked about and used Watch.An examination of different social media posts and consumer usage reports has shown that around 700 million posts has...
 
 
iPad Air 3 Leaked with LED flash and Four Speakers
iPad Air 3 Leaked with LED flash and Four Speakers
Recently, technical drawings for the upcoming iPad Air 3 were leaked online. According to the drawing, Apple iPad Air 3 will have an LED back flash, four-speaker audio setup along with the camera. The mentioned drawings...
 
 
Apple Q1 2016 Revenue Sets New Record Amidst Massive Growth Slowdown
Apple Q1 2016 Revenue Sets New Record Amidst Massive Growth Slowdown
Apple's revenue in the Holiday quarter was $75.9 billion. $1.3 billion more than in a year ago.