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Demand continues upward for super-luxury developments.


Though the uncertain economy has created anxiety in many sectors, superluxury properties with white-glove amenities continue to attract a steady flow of buyers. At properties such as The Setai Resort & Residences, The Setai Group's super-luxury development currently rising on Collins Avenue between 20th and 21st Street in Miami Beach Miami Beach, city (1990 pop. 92,639), Dade co., SE Fla., on an island between Biscayne Bay and the Atlantic Ocean; inc. 1915. It is connected to Miami by four causeways. , sales have remained robust, consistently beating expectations and setting pricing records even in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?"
midmost
 of economic turmoil.

The underlining strength of this type of real estate investment lies in the clear demand for uncommon amenities. The Setai, a 40-story ultra-luxury oceanfront condominium tower and five-star resort hotel, will offer approximately 189 residential units and approximately 90 hotel rooms and will provide residents and guests unparalleled views and first-class service and amenities. Features will include three lushly landscaped pools, a world-class restaurant, two-level lobby area, state-of-the-art fitness center and all-natural spa, valet garage parking, library and meeting space.

The Setai Group partnered with the renowned creator of the Amanresort, Adrian Zecha's GHM GHM Groupes Homogènes de Malades
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GHM General Hydrological Model
GHM Gerdt H. Mathiesen AS
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 (General Hotel Management Ltd.), to oversee the management of the boutique hotel Boutique hotel is a term originating in North America to describe intimate, usually luxurious or quirky hotel environments. Boutique hotels differentiate themselves from larger chain/branded hotels and motels by providing personalized level accommodation and services / facilities. .

The Setai Group focuses on introducing super-luxury property in nontraditional urban markets, in addition to established marquis markets such as New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 and Miami Beach. This formula has also been applied successfully at The Vendome 20-story, 1 19-unit luxury condominium located on Turtle Creek Boulevard
For the neighborhood, see Turtle Creek, Dallas. For the creek, see Turtle Creek (Dallas County, Texas).
Turtle Creek Boulevard is a thoroughfare that runs through the Turtle Creek neighborhood of Oak Lawn, Dallas, Texas (USA), generally alongside the
 in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation).
The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl.
.

Superior building features at The Vendome include a grand lobby, 24-hour concierge and valet service, guest hotel suites, private health club, landscaped pool area with private cabanas and basement garage parking. Apartment amenities include private elevators, enormous terraces, all-marble his and hers baths, hardwood floors, fireplaces, open galleries, European style kitchens with custom crafted cabinetry and gourmet cooktops, and over-sized walk-in closets.

The Vendome's pre-sales activity has already reached approximately $70 million.
COPYRIGHT 2001 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Author:BREENE, JONATHAN
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:May 9, 2001
Words:294
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