Car dealer buys Porsche Design Tower Condo for $14 million
A car dealership paid $14.4 million for a condo in the Porsche Design Tower in Sunny Isles Beach, marking its second purchase in the building this summer.
James and Annette Lucas have sold their 4405 two-story unit at 18555 Collins Avenue to Alan Jay Wildstein, according to Melissa Barragan of Dezer Platinum Realty. Barragan represented the buyer and Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty represented the sellers.
Wildstein is president and CEO of Central Florida-based Alan Jay Automotive Network, an auto dealership with locations in Wauchula, Sebring and Clewiston.
Last year, he sold his Fort Lauderdale waterfront home for $7.5 million.
The 6,121-square-foot, three-bedroom, four-bathroom Porsche Design Tower condo features 22-foot ceilings and a four-car garage. The Lucas paid $7.4 million for the condo when they bought it in 2018, records show. The couple completed a full renovation of the unit before following their children to their home state of Texas, Gonzalez said.
“[Lucas] completely gutted the unit, down to bare bones, then put everything back together extremely well,” he said. The unit sold for nearly double its purchase price four years ago.
This isn’t the first time Wildstein has purchased a condo at Porsche Design Tower, according to Barragan. Property records show Wildstein paid $6 million in June for Unit 2501, a 4,154-square-foot, three-bedroom, four-bathroom condo.
“He loved the building so much, but he wanted more space,” Barragan said. Wildstein is relisting the smaller unit for just under $7 million, she said.
Wildstein also has a car gallery on the fourth floor of the building that can house up to seven vehicles from his car collection, allowing for a total capacity of 11 cars in the tower, excluding those of the unit returning to the market. .
Wildstein went all out on car-centric luxury condo living. Barragan also represented him in the pre-sale of a condo at Bentley Residences, a development a few buildings down Collins Avenue. According to Barragan, Wildstein is buying a three-bedroom, three-and-a-half-bathroom unit with a three-car garage in the building. Construction of the 60-story, 200-unit tower is expected to be completed in 2026. Barragan declined to disclose the value of the planned purchase.
The 60-story, 132-unit Porsche Design Tower, developed by Dezer Development in 2016, consistently ranks among Miami-Dade County’s best-selling condos. The Wildstein purchase marked the most expensive condo sale in the county last week.
Privacy features such as the Dezervator — a car lift that lets people keep their vehicles in their units — have attracted buyers, Barragan said, adding that she’s closed $32 million in sales in the building. in the past 90 days, a figure she says deviates from the historical norm.
Sunny Isles Beach has been a hotbed for luxury condo deals. A $10.4 million deal at Jade Signature ranked among the biggest condo sales in the county last month.
Another unit from Jade Signature sold for $10.3 million this spring after spending 1,060 days on the market. And a Turnberry Ocean Club condo sold to two data science entrepreneurs for $14.3 million in April.