Italian fashion house Fendi is venturing out into the real estate world.
Fendi is not diving into the project blindly. They have partnered with Château Group to design ocean condominiums in Miami, Florida. Fendi has some experience in real estate as they have done design projects and builds for private individuals. However, this is the first time they will build real estate that will be open to anyone who can afford it.
“Fendi Château Residences further consolidate our ties in the luxury private property sector, in particular with a qualitative partner like Château Group,” Pietro Beccari, Fendi chairman and chief executive officer, said. “It fully expresses the codes, history and savoir-faire that characterize Fendi.”
The 12-story waterfront condos will feature 58 units that span between 3,300 to 7,000 square feet. The condos will overlook a private beach and feature such amenities as pools, terraces, and ocean views.
The residences will be priced between $5 and $22 million. The project is expected to be completed in 2016.