Jorge Pérez’s Related Group is launching sales for a Pininfarina-branded luxury condominium tower in Fort Lauderdale, with prices starting at $1.6 million.
The Miami-based developer is kicking off sales for Andare Residences by Pininfarina on Wednesday, according to a press release. The planned development will stand 540 feet tall, with 45 stories and 163 units. It marks the latest addition to the branded condo craze that is sweeping South Florida’s luxury real estate market.
Related bought the 0.6-acre development site at 521 East Las Olas Boulevard for a combined $17.1 million in a trio of deals in 2020, records show. The project is adjacent to the Icon Las Olas, a 42-story luxury rental tower Related completed in 2017.
Andare Residences will have floor plans ranging from 1,800 square feet to more than 4,300 square feet, with two- to four-bedroom options, a spokesperson confirmed. Amenities will include a fitness center, spa facilities, pickleball court, two rooftop pools, private dining room, catering kitchen, sports lounge, conference rooms, and food and beverage services, the release says.
Pininfarina, a luxury car design firm based in Cambiano, Italy, collaborated with Miami Lakes-based CFE Architects on the tower. Architectural Alliance Landscape, a Fort Lauderdale-based firm, is handling Andare’s landscape architecture.
Dan Teixeira from Douglas Elliman will be leading the sales team, a Related spokesperson confirmed.
Related is targeting empty nesters, investors, young professionals and second home buyers for the project, according to the spokesperson.
Andare joins Related’s pipeline of planned projects. In Miami-Dade County, Related’s developments include the 50-unit Six Fisher Island, the 150-unit St. Regis Residences and the 24-story, 61-unit Rivage Bal Harbour.
Related has also honed in on Broward County’s luxury market. Last month, Pérez landed a $158.9 million construction loan for its planned 118-unit Casamar Residences in Pompano Beach. Related and Merrimac Ventures are also planning a Waldorf Astoria-branded luxury condominium in Pompano Beach, with 28 stories and 92 units. In Hollywood, Related and BH Group are planning a 37-story, 350-unit condo tower.
Related isn’t the only South Florida real estate player taking notice of Broward. Brokerages like Fortune Christie’s International Real Estate, led by Edgardo Defortuna, are expanding into the area with a specific focus on Fort Lauderdale. International soccer superstar Lionel Messi also brought the spotlight to Broward when he bought a waterfront mansion in Fort Lauderdale’s Bay Colony neighborhood for $11 million last month.