How Powerful is a Starchitect in Miami?
During last week’s roundtable hosted by The Real Deal, a panel of real estate experts debated how much value hiring a star architect – or starchitect – can add to a condo development project in Miami.
"Miami buyers want something beautiful and they're willing to pay for it," said broker Esther Percal of Esslinger Wooten Maxwell, at the roundtable discussion hosted by The Real Deal.
Along with Percal, powerhouse panelists for the event included renowned architects Bjarke Ingles and Chad Oppenheim, as well as David Martin of Terra Group and Mayi de la Vega of ONE Sotheby’s International Realty.
Does an architect's celebrity status translate to financial success for a new condo project? Not necessarily, according to David Martin. He said that the success of the project, especially in this competitive market, relies on the fundamentals. Of course, a little star power can go a long way. Martin hired award-winning architect, Bjarke Ingles to design the Grove at Grand Bay project.
Moderated by Peter Zalewski of Condo Vultures, the discussion featured topics about South Florida’s new development cycle, latest selling points, new trends shaping the market and how starchitects are changing the city’s skyline.
Immediately following the event, Terra Group hosted a cocktail celebration at Grove at Grand Bay’s model residence. Check out a highlight video from the event.