Elle Fashion Brand Launching Condo in Miami
Development will be Miami’s first building branded after a fashion magazine
By Julia Echikson May 29, 2024 1:44 pm
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First it was luxury fashion companies. Now fashion magazines and media brands are jumping on the condo-branding bandwagon in Miami.
Elle, the media fashion and lifestyle brand, is lending its name to Vertical Developments’ and Urban Network Capital’s condo development in Edgewater, as part of a licensing agreement with French media company Lagardère News, a division of publisher Lagardère Group.
Called Elle Residences Miami, the 25-story project will house 180 units at 3618 NE Fifth Avenue, near the entrance of the Julia Tuttle Causeway, which leads into Miami Beach.
Behar Font & Partners is the architect, and The One Atelier will design the interiors and furnish the units. Owners will be allowed to lease them to visitors on a short-term basis.
Fortune Development is now leading sales, with prices starting at $525,000. Construction is expected to start next year. Vertical Developments and Urban Network Capital purchased the half-acre site for $13.5 million in September 2023.
The development will mark Miami’s first building branded after a fashion media brand, though luxury fashion brands have long attracted developers and buyers. Giorgio Armani, Missoni and Fendi have all lent their names for completed condos. A Dolce & Gabbana tower in Brickell, spearheaded by JDS Development, is now under development.
Elle, a global magazine founded in 1945, expanded into real estate in 2022, when it opened a hotel in Paris. It has since added a hotel in Amsterdam and cafes in Taiwan and Thailand.
In 2011, Lagardère sold the rights to Elle Magazine outside of France and other titles to Hearst for over $886 million, New York Post reported.
Update: The story was amended to clarify the involvement of Hearst and Lagardère Group with the Elle entity.
Julia Echikson can be reached at jechikson@commercialobserver.com.
