Car Dealer Buys Porsche Design Tower Condo for $14M

Alan Jay Wildstein and the Porsche Design Tower in Sunny Isles Beach (Alan Jay Automotive Network, Carl Lender, CC BY 2.0 - via Wikimedia Commons, Draper and Associates, iStock)

Alan Jay Wildstein and the Porsche Layout Tower in Sunny Isles Seaside (Alan Jay Automotive Community, Carl Loan provider, CC BY 2. – by way of Wikimedia Commons, Draper and Associates, iStock)

A vehicle dealer paid $14.4 million for a rental in the Porsche Layout Tower in Sunny Isles Seaside, marking his next buy in the setting up this summer time.

James and Annette Lucas bought their two-story device 4405 at 18555 Collins Avenue to Alan Jay Wildstein, according to Melissa Barragan of Dezer Platinum Realty. Barragan represented the customer, and Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty represented the sellers.

Wildstein is president and CEO of central Florida-dependent Alan Jay Automotive Network, a car dealership with destinations in Wauchula, Sebring, and Clewiston.

Final yr, he bought his waterfront Fort Lauderdale home for $7.5 million.

The 6,121-square-foot, three-bed room, 4-bathroom Porsche Design and style Tower rental functions 22-foot ceilings and a 4-automobile garage. The Lucases compensated $7.4 million for the apartment when they purchased it in 2018, records present. The couple concluded an extensive renovation on the device before adhering to their youngsters back again to their household state of Texas, Gonzalez reported.

“[Lucas] completely gutted the unit, to the bare bones, and then set it all back again alongside one another really perfectly,” he claimed. The unit sold for virtually double its acquire rate 4 several years back.

This is not the very first time Wildstein has bought a condo at Porsche Design and style Tower, according to Barragan. Property documents demonstrate Wildstein compensated $6 million in June for device 2501, a 4,154-sq.-foot, three-bedroom, 4-rest room rental.

“He liked the making so a lot, but he wanted far more place,” Barragan stated. Wildstein is re-listing the lesser unit for just shy of $7 million, she mentioned.

Wildstein also owns a auto gallery on the fourth flooring of the creating that can in shape up to seven automobiles from his auto collection, permitting for a overall capacity of 11 cars and trucks in the tower, apart from those people at the unit that is heading again on the industry.

Wildstein has long gone all-in on car or truck-centric luxurious condominium living. Barragan also represented him in the presale of a condo at Bentley Residences, a enhancement a few buildings down on Collins Avenue. In accordance to Barragan, Wildstein is getting a a few-bedroom, a few-and-a-50 percent-bathroom device that includes a three-car or truck garage in the creating. Design of the 60-tale, 200-unit tower is set to wrap in 2026. Barragan declined to disclose the benefit of the planned obtain.

The 60-tale, 132-unit Porsche Style and design Tower, created by Dezer Advancement in 2016, routinely ranks in the top condo revenue for Miami-Dade County. Wildstein’s purchase marked the most high-priced rental sale in the county final week.

Privateness characteristics this kind of as the Dezervator — a motor vehicle elevator that will allow persons to continue to keep their motor vehicles in their units — has been a attract for consumers, stated Barragan, adding that she has closed $32 million in gross sales in the setting up in the past 90 days, a determine she states departs from the historic norm.

Sunny Isles Beach has been a hotbed for luxury condo discounts. A $10.4 million offer at Jade Signature rated as a person of the major condominium income in the county final thirty day period.

An additional device at Jade Signature marketed for $10.3 million this spring after paying out 1,060 days on the marketplace. And a Turnberry Ocean Club condominium marketed to a pair of facts science business people for $14.3 million in April.

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