PROFILE Exclusive: New Age of Branded Residences With Gil Dezer, The Developer Behind Iconic Luxury Collaborations

Just before the COVID-19 shutdown, PROFILEmiami had the opportunity to meet Gil Dezer, CEO of Dezer Development, at the Residences by Armani/Casa grand opening party in Sunny Isles Beach. The building, which was developed in partnership with Related Group, was unveiled in full Miami-style with the grandeur you would expect from the two development firms: an Armani Summer Collection Fashion Show and a live concert by Mr. 305 himself, Pitbull.

The developers worked with fashion icon Giorgio Armani, architect Cesar Pelli and landscape architecture firm Enzo Enea to design the project. It is the first Armani-branded building in the U.S and joins the ranks of luxury fashion collaborations like Fendi Chateau. We were able to catch up with Gil during the shutdown to get inside the mind of the developer whose firm has a long history of building residences branded with leading luxury, automotive, and fashion brands. If the grand opening of Armani/Casa says anything about brand standards, then we can’t wait to see what Dezer has in store next for Miami.

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PROFILE: Where did the idea to do branded, luxury condo buildings come from? 

Gil Dezer: In 2001, we secured a licensing deal with the Trump Organization to build branded buildings with the Trump brand on it. That is when we realized putting a brand on a building is much more powerful than simply giving it a name.

PROFILE: Branded residences command anywhere from 20-35% of a premium against comparable non-branded product. What kind of premium did Porsche/Armani command during pre-sale and have they retained their value for re-sale? 

GD: Our goal when using a brand is not to try and maximize the value per square foot, but to enjoy a faster sellout in comparison to our competitors. Our closest competitor sold 100 less units than us in the same time period.

PROFILE: What are some of the differences between working with a car brand such as Porsche and a fashion brand such as Armani? 

GD: Each brand has their own motivation for building a branded tower, and each has a slightly different process. Porsche Design wanted the car to be “present” in the building, so we [used] a lot of leathers and woods and black chrome, as you would find in the automobiles. Meanwhile, Armani has a lifestyle aesthetic which is translated in the common areas as well as the furniture line that Armani/Casa manufactures.

PROFILE: What were some challenges during the design phase while working with a brand that has never lent its name to residential real estate?

GD: There was a lot of education from both sides. From the side of Armani, they taught us the history of the brand, design philosophy, reasons for certain aesthetics and the overall look. The two brands [Armani and Porsche] are completely distinctive in their styles, so it was great to be able to learn from each one.

PROFILE: Does using a brand help mitigate unforeseen risks such as seasonal/cyclical changes in the market?

GD: Absolutely. The main differentiator between having a brand on a building is the attention it receives in comparison to the neighboring properties. This proved to be true even during Covid-19. We still receive an extraordinary amount of attention to our buildings.

PROFILE: How are the last several units in Armani moving?  

GD: The market has slowed during COVID-19, but we are proud to report that there have been six new sales during this time. Four of them took place in the last month.

PROFILE: Cost control and specification analysis is also critical in a brand-forward environment, when design, service and security charges can be easily driven up. Are your design costs higher when collaborating with a high-end brand and how did you manage that process?

GD: Costs are absolutely higher. For starters, the construction specifications for these buildings are above and beyond. In Trump International Hotel, we have floor-to-ceiling glass, private elevators, expensive kitchens and baths with automatic toilets that make the units more expensive to build. But the real cost difference appears in the lobbies and common areas; Armani/Casa has almost 40,000-square-feet of common areas with high-end finishes and furnishings by Armani. That’s where the competitors beat me. They make more money because no one has even gone as crazy as we did on the finishes. However, the overall product blows away anything else on the market, and we are sure of that.  

PROFILE: Did lenders look at the project any more or less favorably taking into consideration the brand association? Will they in the future after you paid off your loan so quickly for Armani?  

GD: I have been doing branded buildings since my partnership with the Trump Organization in 2001. Some said I was the first developer to do this – I certainly was in South Florida. By the time we get lenders involved in the process, we have usually experienced a high volume of pre-sales which is what lenders are looking for, along with the strength of the developer.

PROFILE: What did you need to keep in mind when choosing the right operator to provide that high-touch level of service? 

GD: After many years in Miami, I noticed there was not a management company that offered lifestyle services at a hotel service level with food and beverage management. My company also owns and runs hotels, so we have experience in top quality management. We simply opened up a division of our hotel group to start managing condominiums. That allowed us to build restaurants in the buildings that are not open to the public.

PROFILE: What signature features will Armani Residences be remembered for like Porsche is for its car elevator? 

GD: This lobbies and common areas are simply amazing. Second to none.

PROFILE: Market differentiation is one advantage of using a well-established brand, especially if you are trying to hit new price records. What is the next goal or milestone you would like to set for Dezer Development?

GD: We have several waterfront lots and amazing sites around Miami. We have a lot of great things coming up – stay tuned.

By Katya Demina

Check out PROFILEmiami’s coverage of the Grand Opening of the Porsche Design Tower

Check out PROFILEmiami’s exclusive Tour of Porsche Design Tower

Check out PROFILEmiami’s coverage of Residences by Armani/Casa paying off their construction loan

Check out PROFILEmiami’s coverage of Andrea Bocelli’s Evening Under the Stars for the Children of Haiti at the Residences by Armani/Casa

Residences by Armani/Casa Pays Off $315 Million Construction Loan

Developers The Related Group and Dezer Development announced today the payoff of a $315 million construction loan to Wells Fargo for Residences by Armani/Casa. The 308-unit tower located on the sands of Sunny Isles Beach celebrates the legendary vision of interior design firm Armani/Casa, led by the famed Giorgio Armani; architecture firm Pelli Clarke Pelli, founded by the late César Pelli; and Swiss landscape architecture firm Enzo Enea. 

This milestone comes weeks after the tower received its temporary certificate of occupancy (TCO), signaling imminent move-ins for buyers. With $800 million in contracts expected to close quickly, the building is well on its way to a planned $1 billion sellout.  

“Paying off this loan so quickly is testament to the caliber of industry leaders this tower unites, from my partner on the project, Related, to the design icons who curated every inch of the building,” said Gil Dezer, President of Dezer Development. “Since TCO, we’ve seen multiple closings per day and could not be prouder to deliver a tower that exceeds all expectations.” 

“This building is a love letter to South Florida from Giorgio Armani and Cesar Pelli, and now stands as a landmark for design as striking as it is thoughtful,” Jon Paul Perez, Executive Vice President at The Related Group. “Alongside Dezer, we couldn’t be more thrilled to bring this tower to life, and it’s clear our excitement is mirrored by those who will call it home.”

The residences feature floor-to-ceiling windows framing the Atlantic Ocean, expansive terraces with glass railings and summer kitchens and kitchens with premium Armani Dada-designed cabinetry and Sub-Zero and Wolf appliances. The master suites feature Armani Dada designed midnight bar with marble countertop and sink, and in the master bath Armani Roca design sink, tub & plumbing fixtures. 

The common spaces are a representation of sophisticated living, through the lens of Giorgio Armani. With over 35,000 SF of amenities across two floors, all exquisitely designed and furnished by Armani/Casa. This is apparent upon arrival to the lobby level, which features a residents-only version Armani/Privé, the famed lounge club with flags in Milan and Dubai. Rich textiles, a palette of softly dramatic tones, and sensual textures creates an atmosphere of refined elegance that continues through the rest of the spaces including the private bar and restaurant adjacent to Armani/Privé, club-inspired game room with billiards, state-of-the-art fitness center with yoga and Pilates, two-story revitalization spa with indoor and outdoor treatment rooms, dedicated children’s room, old Hollywood-inspired movie theatre, private cigar room and temperature-controlled wine cellar. Outdoors, a landscaped terrace serves as the property’s backyard with benefits like an infinity-edge heated pool and hot tub, private oceanfront restaurant and bar offering in-residence deliveries and oceanfront cabanas set within 300-feet of private beachfront. 

Residences are available for immediate occupancy, ranging from 1,800 SF to 6,000 SF and priced from $2.9 to $17 million. This is inclusive of the crown jewel listings, a 5,968 SF north facing penthouse and 5,375 square foot south facing penthouse priced at $17 million and $14 million, respectively. Both feature five-bedrooms, six-and-a-half bathrooms and rooftop terrace space with a private pool.

For more information about Residences by Armani/Casa, private showings or purchasing/ leasing information please fill out the form below:

Dezer Development & Related Group Complete Residences by Armani/ Casa In Sunny Isles Beach

Dezer Properties and Related Group have completed the 56-story Residences by Armani/ Casa in Sunny Isles Beach and closings are now underway. The Residences by Armani/ Casa offers 308 luxury condo units with total sales valued at over $1 billion. The project first broke ground in January 2016 and received its TCO in late November/ early December 2019. Pre-sales hit the 87% mark with over $800 million in sales since launch. The Residences by Armani/ Casa was designed by the late César Pelli and marks his final project before his death in July 2019.

Units at The Residences by Armani/ Casa range from 1,350 SF to 4,700 SF, priced from $1.6 million to over $17 million. There is also a penthouse furnished by Giorgio Armani that includes a trip to Italy to meet the iconic designer himself. The Residences by Armani/Casa features over 35,000 SF of incomparable amenities including a fine dining restaurant, cigar room and wine cellar, heated swimming pool, ocean-facing fitness center, two-story revitalization spa with indoor and outdoor treatment rooms, movie theatre, and clubroom, all situated on 300' of private shoreline.

For more information about The Residences by Armani/ Casa, private showings or purchasing/ leasing information please fill out the form below:

Dezer Development & Related Group Celebrate Top-Off Of Residences by Armani/Casa In Sunny Isles

The Residences by Armani/Casa is one step closer to completion as Dezer Development and The Related Group have announced that the tower has topped off at 649' and is now 80% sold. The development team and the tower’s general contractor, Coastal Condominiums, and executive architect, Sieger Suarez Architects, commemorated the topping off of the 56-story contemporary glass tower designed by world-renowned architect César Pelli with a luncheon for over 500 construction workers, engineers and other contractors involved in the project. The project is expected to be completed in Fall 2019. 

“This announcement is another major milestone for Armani/Casa’s first branded real estate project in the U.S.,” said Gil Dezer, president of Dezer Development. “We’ve always been proud of the special characteristics of this unique project, but seeing Residences by Armani/Casa coming to life and now in its final dimensions is a great moment."

“We are extremely pleased to bring the internationally-celebrated talents of César Pelli and Giorgio Armani to Sunny Isles Beach, further defining the city as one of the world’s leading addresses for elegant living and sophisticated design,” said Jon Paul Perez, Vice President of The Related Group. “Residences by Armani/Casa, with its world-class team of designers and architects, has already delivered a new dimension to South Florida’s ultra-luxury, high-end real estate market.”
 
Units at Residences by Armani/Casa range in size from 1,350 SF to 5,820 SF and are priced from $2 million to $17 million for the tower’s duplex penthouse. The Residences by Armani/Casa will feature over 35,000SF of incomparable amenities across two floors, all exquisitely designed and custom-furnished by the Armani/Casa Interior Design Studio under the artistic direction of Giorgio Armani. Appealing to the most sophisticated of buyers, Residences by Armani/Casa’s amenities include a Lounge on the lobby level and a Prive area, a fine dining restaurant, cigar room and wine cellar, heated swimming pool, ocean-facing fitness center, two-story revitalization spa with indoor and outdoor treatment rooms, movie theatre, and clubroom. The lush outside features exclusive beach amenities on a 300' stretch of private shore complete with a three-acre garden oasis designed by the tower’s award-winning Swiss landscape artist, Enzo Enea, as well as monumental sculptures by internationally recognized artists, Sandro Chia and Boaz Vaadia.

Check out PROFILEmiami's coverage of Residences by Armani/Casa

Construction at the Residences by Armani/Casa Passes Halfway Mark As Sales Pass 76%

The Sunny Isles Beach skyline which features designs by world class architects such as Herzog & de Meuron and Carlos Ott, will soon be joined by a masterpiece by internationally acclaimed architect Cesar Pelli, The Residences by Armani/Casa. Construction is progressing smoothly where teams have passed the halfway mark of the 56-story, 649' residential condo tower which features over 300' of private shoreline. Sales have also passed 76% at the project which is expected to be delivered in 2019. The project is being developed by Dezer Development and Related Group.

The Residences at Armani/Casa offers 307 luxury residences which start at 1,350 SF and reach up to 4,200 SF, available in 2, 3 and 4 bedroom floor-plans. The 3 and 4 bedroom floor plans are flow-thru units with views and terraces on both the ocean and city sides of the tower. Pricing starts at $1.7 million and ranges up above $6 million. The Residences by Armani/Casa will feature over 35,000 SF of incomparable amenities already on offer at the building, including a fine dining restaurant, cigar room and wine cellar, heated swimming pool, ocean-facing fitness center, two-story revitalization spa with indoor and outdoor treatment rooms, movie theatre, and clubroom, all situated on 300' of private shoreline.

Check out PROFILEmiami's coverage of the stunning Beach Cabana's at The Residences by Armani/Casa which nearly sold-out as soon as they were released