Miami's Porsche Design Tower, complete with car-only elevator, is sinking

Miami is home to some of the most luxurious residential properties in the United States and indeed, anywhere in the world. Some of the wealthiest people in the country have properties in Florida's sunny city and such is the prestige attached to residential projects here that even luxury and sportscar makers have partnered with developers to establish towers with their brand names. But all is not well.

According to a new study conducted by the University of Miami and reported by Miami Herald, around 35 buildings on the posh Sunny Isles Beach have sunk by three inches between 2016 and 2023. The stretch includes the enviable Porsche Design Tower which was opened back in 2014. Some of the other iconic properties here include the Ritz-Carlton Residences and two Trump Towers. What is alarming is that a 12-story residential tower located just a few kilometres from here had collapsed around four years back.

Since the Porsche Design Tower was opened, several other automakers also began showing interest in branded residential projects and in the ensuing years, the 818-foot Aston Martin skyscraper was opened a short distance away while Bentley, Mercedes-Benz, and Pagani would lend their brand names to projects here. All of these properties may now be at risk as well.

What is special about Porsche Design Tower?

The 641-foot tall Porsche Design tower is a temple for wealthy fans of Porsche. There are 132 residential units, all with summer kitchens, fireplace and in-unit garages for owners to house their prized vehicles. This last bit is made possible by something called a Dezervator - a one-of-a-kind elevator which can transport both cars and its owner straight to the desired unit.

Additionally, owners can also avail car concierge services which includes parking as well as maintenance of the vehicle.

The other highlights include a private restaurant, chilled wine lockers, private cinema, outdoor lounge facing the ocean, golf and racing simulator rooms.

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