The Aston Martin Residences, an ambitious luxury condo tower situated in downtown Miami at 300 Biscayne Boulevard Way, is once again making headlines as construction resumes following a resolution between the project’s general contractor and a subcontractor. The Miami-based stucco and drywall company, Edgewater Construction, had filed for Chapter 11 bankruptcy in March, which led to a two-month delay in the project’s timeline. The impasse was attributed to cost increases linked to inflation, culminating in financial strain for Edgewater Construction. According to the South Florida Business Journal, Jacqueline Calderin, the attorney representing Edgewater Construction, explained that the company had to absorb these elevated costs due to its original contract with Coastal Construction, the general contractor, established in early 2019. G and G Business Development, under the ownership of the Coto family from Argentina, initiated the Aston Martin Residences project in 2017. This nearly 400-unit, 50-story tower was initially slated for completion in the preceding year. Aston Martin’s spokesperson confirmed that the tower is on the brink of being sold out and is anticipated to be finalized by the year’s end.

Edgewater Construction’s Chapter 11 filing affected six ongoing developments, including the Estates at Acqualina in Sunny Isles Beach, AMLI Wynwood, Society Wynwood, Bayshore Grove, and a project in Tampa. It remains uncertain whether Edgewater Construction will resume work on the other South Florida sites where agreements with general contractors were in place. Notably, the company will not be returning to Coastal Construction’s Tampa development project, as disclosed by Edgewater’s legal representative. Developers have grappled with substantial cost hikes over the past few years, spanning land acquisition, construction materials, labor, insurance, and financing. These augmented expenses, coupled with disruptions in the supply chain and other contributing factors, have compounded the challenges faced by developers, making project initiation and completion increasingly complex. Meanwhile, Aston Martin has seized the spotlight with its prestigious 66-story luxury high-rise in Miami. The brand recently unveiled the interiors of its much-anticipated triplex penthouse, fittingly named “Unique” for its exceptional design attributes. This extraordinary property spans an expansive 19,868 square feet across three floors, housing seven bedrooms and eight bathrooms. Each level boasts a wrap-around terrace, boasting a grand total of 7,300 square feet of outdoor space. The Unique penthouse represents Aston Martin’s inaugural foray into the penthouse property market worldwide.

What further distinguishes this residence is an exclusive buyer’s privilege—an accompanying Aston Martin Vulcan, a limited-edition race car valued at $3.2 million. The provision of a custom-built, climate-controlled garage within the building ensures that this masterpiece finds a fitting home. Adding to the allure, the buyer will receive an 80-page fine-art book chronicling the conception of Unique through paintings, sculptures, music, and poetry. Germán Coto, CEO of G&G Business Developments, anticipates the book to be coveted by connoisseurs who appreciate the irreplaceable. Intricately designed to maximize natural light, the interiors of the penthouse are adorned with expansive wall-to-wall glass panels, offering panoramic views from the Atlantic Ocean to the vibrant cityscape. At the heart of the residence lies a custom-crafted staircase, embodying the elegant wings of the Aston Martin logo. Anchoring the living room is an equally sculptural light fixture, complementing the luxurious ambiance. The penthouse includes a private pool, a spa, a gym, and an elevator, enhancing the exclusive lifestyle it promises to deliver. Marek Reichman, EVP & Chief Creative Officer of Aston Martin Lagonda, articulates, “The creation of art is one of the most important things on the planet, and at Aston Martin, we articulate the soul of our brand through art and beauty.” With its triumphant return to the Miami skyline, the Aston Martin Residences exemplify a harmonious fusion of luxury, artistry, and innovation in the realm of real estate.

Photo via Aston Martin Residences