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Premier to stay on as consultant; ONE Sotheby’s off project<\/p>\n
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Lionheart Capital has brought on Douglas Elliman Development Marketing to take over sales and marketing for the Ritz-Carlton Residences, Miami Beach.<\/span><\/p>\n Previously, Premier Sales Group and ONE Sotheby\u2019s International Realty were\u00a0both handling sales<\/a>\u00a0in some capacity, Lionheart Capital founding partner Ophir Sternberg told\u00a0The Real Deal<\/em>.<\/p>\n While South Florida\u2019s\u00a0luxury condo market is experiencing a slowdown in sales, Sternberg told\u00a0TRD<\/em>\u00a0that the Ritz-Carlton Residences has not been affected. Sales launched in late 2013. The luxury waterfront development is now 65 percent sold to about half local buyers, as well as those from New York and the Northeast.<\/p>\n With that demographic in mind, \u201cWe wanted to bring in a group that\u2019s deeply rooted in [markets] where we\u2019re selling,\u201d Sternberg said of Douglas Elliman. Philip Gutman took over the project as vice president\u00a0of sales at the end of June. Gutman, who led the record $1.275 billion sellout for the Las Vegas Cosmopolitan Resort & Casino, was tapped as\u00a0Elliman\u2019s vice president of sales for all of Florida last year. Elliman agents\u00a0Darin Tansey, Bill Hernandez, Bryan Sereny and Viviana Junc are also part of the Ritz-Carlton sales team.<\/p>\n \u201cI think overall our expertise with high-end luxury product and our reach domestically and internationally is what did the trick,\u201d Gutman told\u00a0TRD<\/em>.<\/p>\n ONE Sotheby\u2019s declined to comment, but a spokesperson said the brokerage was \u201ccontracted to consult the developer on certain international marketing sales tactics,\u201d and did not handle sales for the project. Premier Sales Group, meanwhile, will stay on as a consultant with the developer.<\/p>\n When completed, the 7-acre development, at 4701 North Meridian Avenue will have 111 condo residences and 15 single-family villas. Designed by Piero Lissoni, the Ritz will feature gardens, pools and 36 private boat slips. Shared amenities will include a residential art studio, a rooftop pool deck with private cabanas and a gourmet restaurant, a waterfront bar and social room, pet grooming facilities, indoor and outdoor yoga studios, a meditation garden and carwash facilities. It\u2019s being built on the site of the former\u00a0Miami Heart Institute.<\/p>\n Earlier this year, Lionheart\u00a0brought on Gigi Ganatra Duff<\/a>\u00a0in a new role for the company, chief marketing officer. Ganatra Duff is helping expand\u00a0Lionheart\u2019s portfolio and shape the firm\u2019s marketing and sales\u00a0efforts, which includes hiring Douglas Elliman.<\/p>\n Prices range from $2 million to $40 million. In March, Lionheart\u00a0offered a discount<\/a>\u00a0to Canadian buyers during\u00a0The Real Deal\u2019s<\/em>\u00a0first\u00a0U.S. Real Estate Showcase & Forum<\/a>\u00a0to compensate for the strength of the U.S. dollar.<\/p>\n Sternberg said the project, which has topped off, is\u00a0on track to be delivered in the first quarter of next year.<\/p>\n