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

 
 

Don't miss ...

 

<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

Instagram launches messaging app
New York, July 30 (IANS) Social network Instagram has launched its messaging app called Bolt which makes sending visuals easy. The easy to use app allows you to tap once to send a photo and long press to send a video.
 
 
Eating tree nuts daily prolongs life
Toronto, July 30 (IANS) Include at least 50 grams of almonds, cashews, chestnuts, walnuts or pistachios in your diet to control blood fats (triglycerides) and sugars - two of the five markers for metabolic syndrome.
 
 
Sweetened beverages can impair memory
New York, July 30 (IANS) Limit your sugar-sweetened beverage intake if you are a teenager. An alarming study shows that daily consumption of beverages can impair your ability to learn and remember.
 
 
Menu design can spoil diners' mood
New York, July 30 (IANS) If you have ordered the wrong food at a restaurant, do not blame yourself. Curse the menu instead.
 
 
 

Latest from the Network

David Beckham voted best celebrity in suit
Los Angeles, July 30 (IANS) Former soccer star David Beckham has been voted the best male celebrity 'suit wearer' in a new poll. The 39-year-old managed to grab the top position, beating off competition from American...
Read more on Celebrity Balla
 
Ukraine denies firing ballistic missiles against insurgents
Kiev, July 30 (IANS) Ukraine Wednesday dismissed Western media reports that Kiev used short-range ballistic missiles against insurgents in the east of the country. "The Ukrainian Armed Forces do not use ballistic...
Read more on Politics Balla
 
Britain prepares to meet Ebola threat
London, July 30 (IANS) Authorities in Britain will soon hold an emergency meeting to discuss the "threat" posed by the Ebola virus that has killed more than 670 people in West Africa, a government official said...
Read more on Business Balla
 
With India 319 runs behind, England in firm control (Lunch report)
Southampton, July 30 (IANS) England were in firm control at lunch on day four of the third cricket Test after bowling out India for 330 runs and choosing not to apply the follow-on. The hosts then sped to 80 for two in...
Read more on Sport Balla
 
Pakistan summons Afghan envoy over cross-border attack
Islamabad, July 30 (IANS) Pakistan Wednesday summoned Afghan envoy and lodged a strong protest over an attack launched by terrorists from across the border. Pakistan's foreign ministry said in a statement that between...
Read more on Politics Balla
 
Indian in Dubai jailed for groping woman
Dubai, July 30 (IANS) An Indian expatriate has been jailed for groping a woman at a metro station here, a media report said Wednesday. The Indian, identified only as J.K., 26, was found guilty of molesting a 40-year-...
Read more on Politics Balla
 
Lunch scoreboard: India vs England, day 4, third Test
Southampton, July 30 (IANS) The following is the day four lunch scoreboard of the third cricket Test between India and England at The Rose Bowl here Wednesday: England (first innings 569/7 declared) India (first...
Read more on Sport Balla
 
North Korea fires four short-range projectiles
Seoul, July 30 (IANS) North Korea fired four short-range projectiles Wednesday, media reported. Two short-range projectiles were fired around 7.30 a.m. and 7.40 a.m. from Mount Myohyang of Pyongyang province in the...
Read more on Politics Balla
 
Modi's Nepal visit to boost hydropower, infrastructure cooperation: Observers
New Delhi, July 30 (IANS) Prime Minister Narendra Modi's visit to Nepal next month is expected to boost cooperation in hydropower and infrastructure sectors between India and the Himalayan nation, said observers here...
Read more on Politics Balla
 
India 330 all out, England 80/2 at lunch
Southampton, July 30 (IANS) England bowled out India for 330 and then were batting on 80/2 in their second innings at lunch on the fourth day of the third cricket Test at The Rose Bowl here Wednesday. Resuming the day...
Read more on Sport Balla