What Goes Best With Your Luxury Condo? Free Private Jets

Photo credit: Tim Lobanov

The Miami market is packed with cash from Latin America, China and Russia—but to draw in more investment from the northern US, Verzasca Group managing director Tim Lobanov is looking to the skies. With private jet subscriptions.

"We wanted to diversify, have a larger outreach," Tim tells Bisnow. "Local buyers [from other US states] are more stable buyers, with everything happening with foreign currencies."

Verzasca is offering clients who buy a condo at Aurora, its 61-unit mixed-use in Sunny Isles Beach, a complimentary one-year membership with JetSmarter, a service that allows users to charter a private jet from any location across the globe.

"It's like an Uber of private jets, basically," Tim tells us.

JetSmarter director of events Antonio Caballero tells Bisnow the firm gets a lot of interest from the real estate community—big-name agents like Oren Alexander and Josh Flagg use the service—so it's been looking for an avenue to partner with developers.

"Our main aim is to make private travel more accessible," Antonio tells us. "We decided this was an appropriate partnership to create and leverage in the real estate space."

Tim tells us buyers in the South Florida luxury market often are big travelers, meaning having free JetSmarter service for a year (the app sells its yearly subscriptions for $9,500) can be a money-saver.

Aurora is the first project to offer this membership with JetSmarter, and also includes personal elevators for each unit, yoga lounges and 10-foot ceilings, for an average price of $700/SF.

As far as the potential slowdown in the Miami market, Tim says Verzasca isn't worried at all, saying "we've brought product to the market that didn't exist."

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy