Medical Device Heir Acquires Luxury Condo in Miami's Aston Martin Residences for $22.5 Million
In a notable transaction within Miami's luxury real estate market, Dennis Christopher Foley, son of the late Dennis Foley—founder of Phoenix Medical—has purchased a condominium in the esteemed Aston Martin Residences for $22.5 million. This acquisition underscores the tower's allure among high-net-worth individuals seeking premier living spaces in Miami.
A Glimpse into the Foley Legacy
Dennis Christopher Foley continues the legacy of his father, Dennis Foley, who established Mountain City, Tennessee-based Phoenix Medical, a prominent medical device manufacturer. Following his father's passing in 2022, Dennis Christopher has maintained an active role in the company, contributing to its ongoing success.
Aston Martin Residences: A Pinnacle of Luxury Living
Situated at 300 Biscayne Boulevard Way, the Aston Martin Residences epitomize luxury and sophistication. Completed in April 2024 by G&G Business Developments, the 66-story tower boasts 391 units and stands as the tallest all-residential high-rise south of New York City, reaching an impressive 817 feet.
The building offers an array of world-class amenities, including:
- A state-of-the-art fitness center
- An indulgent spa
- A private movie theater
- An indoor pool
- Dedicated lounges for children and teenagers
- An art gallery
- A superyacht marina
These features are designed to provide residents with an unparalleled living experience, blending luxury with convenience.
Recent High-Value Transactions
The sale of unit 6001C to Foley is among the priciest in the building's recent history. In December 2024, unit 6101C sold for $24 million, setting a new benchmark for luxury condo sales in downtown Miami.
Additionally, in November 2024, a 9,600-square-foot, four-bedroom unit was acquired for $21 million, further highlighting the building's appeal to affluent buyers.
The Unavailable Details
As of now, public records have not been updated to provide specific details about unit 6001C, including its square footage and the number of rooms. However, given the building's reputation for spacious and meticulously designed residences, it is anticipated that the unit offers generous living spaces and top-tier finishes.
The Unclaimed Crown Jewel
Despite the flurry of high-value transactions, the Aston Martin Residences' most opulent offering—the nearly 20,000-square-foot triplex penthouse—remains on the market. Listed at $59 million, this expansive residence spans three floors and features seven bedrooms, ten bathrooms, a half-bathroom, and a private pool, offering panoramic views of Miami's skyline and waterways.
Insights
What makes the Aston Martin Residences stand out in Miami's luxury real estate market?
The Aston Martin Residences distinguish themselves through a combination of architectural brilliance, exclusive amenities, and a prime waterfront location. The collaboration with the iconic Aston Martin brand infuses the building with a unique blend of automotive-inspired design and luxury living, appealing to discerning buyers seeking a distinctive lifestyle.
Why are high-net-worth individuals investing in properties like the Aston Martin Residences?
Affluent individuals are drawn to properties like the Aston Martin Residences due to the unparalleled luxury, privacy, and status they offer. The comprehensive suite of amenities, prime locations, and association with prestigious brands make such residences highly desirable as both personal sanctuaries and valuable investments.
How does the sale of unit 6001C reflect broader trends in Miami's real estate market?
The acquisition of unit 6001C for $22.5 million reflects a sustained demand for ultra-luxury residences in Miami. The city's favorable tax environment, vibrant culture, and strategic location continue to attract wealthy buyers, contributing to robust activity in the high-end real estate sector.
What potential does the unsold triplex penthouse hold for prospective buyers?
The unsold triplex penthouse represents a unique opportunity for prospective buyers to own a one-of-a-kind residence in Miami. With its expansive living space, private amenities, and unparalleled views, it offers an exclusive living experience that is unmatched in the city's real estate market.
How do branded residences like Aston Martin influence buyer decisions?
Branded residences like the Aston Martin Residences leverage the prestige and recognition of luxury brands to enhance their appeal. Buyers are often attracted to the association with a trusted brand, the promise of quality, and the unique design elements that such partnerships bring, influencing their purchasing decisions.
In conclusion, the acquisition of a luxury condo by Dennis Christopher Foley in the Aston Martin Residences underscores the building's status as a premier destination for luxury living in Miami. With its exceptional design, world-class amenities, and strategic location, it continues to attract discerning buyers seeking the pinnacle of residential excellence.
