In real estate, certain developers seem to have Midas’s touch. Alan Faena is one such afflicted man. At the age of 52, he has already left an indelible mark on the fashion, art, and hospitality industries. He and his business partner, American billionaire Len Blavatnik, spun the derelict docks of Puerto Madero in Buenos Aires into the hottest and most valuable neighborhood in Argentina. Now they are working their alchemy here in a forgotten “drive-by” corridor on Collins Ave between North Beach and South Beach. The Faena district, which is slated for completion in 2017, has been a collaboration between the business acumen of Faena and Blavatnik and some of the most innovative designers, architects and artists working today. The Faena Forum, a new arts space was designed by none other than Rem Koohaas/OMA and the Faena House, the district’s most prestigious residential tower, was desgined by Foster + Partners. Even visionary director and producer Baz Luhrman got into the mix, designing the exclusive theater in and the general décor of the Faena Hotel Miami Beach.
The district’s past and its bright future are best represented by the twin residential towers, the Versailles Classic and the Versailles Contemporary. While the Versailles Classic has been tastefully updated from Roy F. France’s original vision by Bill Sofield, the Versailles Contemporary looks boldy to the future with a new design from internationally renowned architect Brandon Haw. The 41 residences will all feature expansive balconies to take in the ocean and bay views. It will also host a state of the art fitness center and spa and share a private pool and beach club with the Versailles Classic.
Expert investors have already recognized the opportunity and pounced. None other than Citadel CEO Kenneth Griffin broke Miami’s record for residential real estate when he bought a penthouse and another unit in 2014 for $60 million. They’ve since gone back on the market for a price of $73 million. As Faena himself said to Forbes Magazine, “I don’t like to make small things. I like to make things that change a city. Buenos Aires is not the same after the Faena, and I believe it will be that way with Miami.”
Josh Stein is a Top Producing Realtor and specializes in all areas of Miami Real Estate including Luxury Condos, Lofts, Art Deco, Pre-Construction and Penthouses.
Visit http://www.joshsteinrealtor.com/condo/faena-versailles-classic or call 305 695 8257 for more info about Faena Versailles Classic and other Miami Real Estate projects.