Art patrons are known for their love of aesthetics. Design is an important element of their lives, not only in what is on their walls, but also in the way those walls are built. This is why the iPod was so successful. It was more than immensely utilitarian. It ushered in an era of elegance. Miami developers have tapped into this idea and are now building condos with artistic design in mind. They are even demonstrating their properties to the public in a luxuriant manner, similar to an art exhibition.
The trend has changed the very nature of home staging. It is no longer enough to have an open house, now a showing is an event in its own right.
Miami has a distinctive angle. The weather in South Florida is consistently sunny and warm. The beaches are beautiful. The whole area holds the charm of a balmy, paradise retreat, with a market that is looking up the barrel of double-digit growth. Add to this a dash of culture, and you hold an irresistible mix of sanctuary and savvy.
Selling a suite as a piece of art makes complete sense. We wrote a few weeks ago about how Miami luxury homes can be reckoned to masterpieces, items to be held and cherished beyond their practical value. In fact, one of the few commodities unaffected by the recession was art, which continued to climb as a safe investment.
According to Bonnie Sellers, CEO of Christie's real estate arm, a wholly-owned subsidiary of the art auction giant: "Real estate is an asset of passion, an asset of lifestyle. The same people who like to buy art also buy luxury real estate.''
Take Chateau Sunny Isles Beach, a high-end waterfront condominium high-rise at 17475 Collins Avenue. The groundbreaking coincided with Art Basel, which is frequented by wealthy art collectors from around the world. Pablo Atchugarry, a famous Uruguayan sculptor, unveiled his latest masterpiece for the event.
One Ocean also hosted not only famous art critics and patrons, but also commissioned new works of art for itself. Miami luxury homes and condos such as One Ocean take the involvement of artistry to a new level, with the involvement of developer Jorge Perez, co-founder, chairman and CEO of The Related Group and a major art collector. He has even donated $40 million to the movement, as well as assuring a penthouse apartment to himself.
Along with luxurious condos popping up at an unforeseen rate, Miami is developing a refined, artistic aesthetic. It’s amazing how much things can change in a few years, but if Perez is a believer, and Christie's is onboard – you can bet that Miami’s artistic vibe is here to stay.
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A rendering of the new Miami Art Museum by Herzog & de Meuron. Courtesy of Herzog & de Meuron.