Exclusivity Embraced: South Florida Luxury Condo Developers Emphasize Private DiningMay 20, 2023
Developers Embrace Private Dining in South Florida Luxury Condos.
Gil Dezer, the developer behind the renowned Porsche Design Tower, shares a sweet anecdote about his experience at the tower’s pool. When his craving for chocolate cake struck, a simple phone call from a friend resulted in the delectable treat being delivered to him. The Porsche Design Tower, completed in 2016, features an exclusive restaurant and bar accessible only to unit owners, their families, and guests—creating a private and elite dining experience.
While jesting that it costs $5 million to secure a reservation at the restaurant, Dezer acknowledges that private dining in luxury condominiums is not a new concept. However, as a new wave of high-end projects emerges, developers are doubling down on this feature to attract discerning buyers who value exclusivity and a club-like ambiance.
Developers such as Camilo Miguel Jr.’s Mast Capital and Related Group are incorporating residents-only restaurants and speakeasies in their luxury projects, including Perigon, Cipriani Residences Miami, St. Regis Residences Miami, Six Fisher Island, and Rivage Bal Harbour Residences. Meanwhile, Dezer’s Bentley Residences Miami in Sunny Isles Beach will house a private restaurant led by renowned chef Todd English, and the joint project with Related Group, Rosewood Residences Hillsboro Beach, will also offer this amenity. In addition, Terra and One Thousand Group have partnered with Major Food Group on the Villa, which will provide both public and private dining options.
Operating restaurants can be financially challenging due to high overhead costs and slim profit margins. To make it feasible, developers often calculate operational expenses and include them in homeowners’ fees. Some developers even offer incentives to restaurateurs, such as covering the build-out costs for kitchen and dining spaces.
Maintaining affordable menu prices is crucial for the success of residents-only dining, according to Dezer. By doing so, the concept remains appealing to buyers seeking privacy, exclusivity, prestige, and convenience.
While private dining is considered a critical amenity for luxury buildings, developers emphasize that it should include other essential factors such as reputable developers and prime locations. Trust is built by partnering with acclaimed chefs, such as James Beard winner Fabio Trabocchi, who will oversee the private restaurant at the upcoming St. Regis Residences, Miami.
The intimacy and personalized service offered by private dining create a unique atmosphere. Residents can socialize with the chef and other residents, fostering a sense of community. Moreover, private dining also offers the convenience of delivery services, allowing residents to enjoy food and beverages throughout the building.
In the end, private dining has become a sought-after feature that enhances the allure of luxury condominiums, appealing to buyers who seek exclusivity, camaraderie, and an exceptional dining experience within the comforts of their residences.