Luxury car condo project in Miami’s Overtown launches sales

Another group of Miami developers is looking to cash in on Miami’s luxury car collectors.

Louis Birdman and Jay Massirman are leading the development of AutoHouse, a seven-story, 45-unit car storage facility with a “Collectors Club” in Miami’s Overtown neighborhood. Units will range from $350,000 to more than $1.5 million and will come with the option to include wet bars, audiovisual systems and other “man cave” features. Owners will access their units via a 24-hour secured lobby with car elevators.

There will also be a social club on the penthouse level, designed by ID & Design International with indoor and outdoor spaces and views of downtown Miami and Overtown. Other amenities will include private dining, a Formula 1 simulator and wine storage.

Land prices in recent years have surged in Overtown, an historically African-American neighborhood where mixed-use projects like MiamiCentral and Miami Worldcenter are under construction.
Luxury car storage has also popped up in Coral Gables, where a group of local developers is building Gables Auto Vault, a five-story luxury car storage condo. Prices there range up to $2 million for a unit that can hold up to 20 cars.

Massirman, a storage developer, said “upscale” storage has been in demand. “In major cities, people don’t have the room to store their 25-car collection, so they have to either trust third-party garages or bear the burden of managing their own warehouses,” he said.

(Source: therealdeal.com)