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They invest US$30 million: the Britos build a Pininfarina luxury building a few steps from the river - La Nación
Source:
www.lanacion.com.ar
September 07, 2023
By: Carla Quiroga
Marcos Brito tells what the real estate project will be like, which will have 35 floors and 90 apartments
In a one-on-one with LA NACION, Marcos Brito details what the Pinanfarina project that he will build in Puerto Madero will be like.
Tailwind scenarios are not always the most propitious moments to launch real estate projects. A country with economic and political uncertainty also generates opportunities. This, perhaps, was the reflection of Marcos Brito, one of the six children of the late banker Jorge Brito, when a year ago he started the venture that he had in the cat flap.
“Bad contexts are good to launch because you are alone, you have no competition”, justifies the timing Brito, director of the group and who commands Vizora, the family developer, along with his sisters Milagros and Constanza.
The entrance to the project that promises to become the most emblematic of the city
Today the businessman presents with great fanfare the construction of the Pininfarina tower . The Italian high-speed train car design firm, founded in 1930 by car designer and builder Battista “Pinin” Farina who worked for companies such as Ferrari, Maserati, Cadillac, Peugeot, Jaguar to name a few and who for a few years he stomps on the world of architecture with more than 10 buildings in the world.
Brito hired the creative team of the king of Italian design in luxury cars -and also of the emblematic Torino- to create a real estate project in which he will spend some US$30 million just for its construction . In fact, work has already begun on a piece of land that occupies half a block on dock one in Puerto Madero, an area known to the family in which they have already built -with other partners- five buildings in two projects: Zencity and Link Towers that total more than 180,000 square meters in an area of the city where the land alone costs US$1000/m². Now it will add another 15,000 square meters of sale with only one, the project will have 35 floors and 90 apartments that today are sold from US$500,000 -those of 82 square meters- to US$1,500,000 -the semi-floors of 240 meters-, although it also has penthouses of US$3.5 million .
The units on the top floors will have a unique view
“We had more demand than supply ,” admits a surprised Brito, who sells for US$6,000 per square meter, a value above what completed properties are listing for in the city's youngest and most expensive neighborhood. "The market validated these prices because the apartments are a kind of fixed term in dollars: a different project with an international brand with a benefit that goes directly to the value of the unit," analyzes the businessman who plans to finish the venture in three years.
“We are preparing ourselves for any scenario” , the businessman answers when asked how a sudden devaluation would impact the project. Brito is convinced that today it is not a good business to store dollars and that the brick in high-end ventures is a refuge of value. “Not only do the pesos burn, the dollars, too” he assures. Perhaps that was the reason why in less than a year he sold more than 60 percent of the apartments .
The aerial view of the pool of the enterprise
The businessman clarifies that, in recent months, inflation in dollars in the world has slowed down due to the rise in US bond rates. But that, likewise, luxury apartments are a refuge of value.
When talking about numbers, he clarifies that he does not see the business from the financial margin but as liquidity insurance . His model is to sell with financing: 20 percent in dollars and the rest, in 36 pesified installments at the value of the MEP.
The 35-story building will be built on Dock One in Puerto Madero
The bet on the Italian designer was played: in addition to paying for the architecture and design, a cobranding was closed, with which he promised to pay a percentage of sales . "We make sure that it will be a venture that will not go out of style," explains Brito and acknowledges that his public is only a gap, the highest in the pyramid. "She is the one who has dollars and is looking for different ventures that give her a sense of belonging," concludes the businessman who knows that this model works for him because it points to one of the niches least hit by the country's macroeconomic situation, the one who is still looking for where shelter the saved dollars .
This is how the interiors of the project will look
www.buysellba.com
The Pinanfarina seal will be embodied in the interior spaces
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The amenities also worship design
Modificar imagen
Lighting, key in spaces
Modificar imagen
The units will be characterized by their dimensions
Modificar imagen
Stripped living rooms anticipate the trend of what is to come in design
Source:
Invierten US$30 millones: los Brito construyen un edificio de lujo Pininfarina a pasos del río
Marcos Brito cuenta cómo será el proyecto inmobiliario que tendrá 35 pisos y 90 departamentos
www.lanacion.com.ar
September 07, 2023
By: Carla Quiroga
Marcos Brito tells what the real estate project will be like, which will have 35 floors and 90 apartments
In a one-on-one with LA NACION, Marcos Brito details what the Pinanfarina project that he will build in Puerto Madero will be like.
Tailwind scenarios are not always the most propitious moments to launch real estate projects. A country with economic and political uncertainty also generates opportunities. This, perhaps, was the reflection of Marcos Brito, one of the six children of the late banker Jorge Brito, when a year ago he started the venture that he had in the cat flap.
“Bad contexts are good to launch because you are alone, you have no competition”, justifies the timing Brito, director of the group and who commands Vizora, the family developer, along with his sisters Milagros and Constanza.
The entrance to the project that promises to become the most emblematic of the city
Today the businessman presents with great fanfare the construction of the Pininfarina tower . The Italian high-speed train car design firm, founded in 1930 by car designer and builder Battista “Pinin” Farina who worked for companies such as Ferrari, Maserati, Cadillac, Peugeot, Jaguar to name a few and who for a few years he stomps on the world of architecture with more than 10 buildings in the world.
Brito hired the creative team of the king of Italian design in luxury cars -and also of the emblematic Torino- to create a real estate project in which he will spend some US$30 million just for its construction . In fact, work has already begun on a piece of land that occupies half a block on dock one in Puerto Madero, an area known to the family in which they have already built -with other partners- five buildings in two projects: Zencity and Link Towers that total more than 180,000 square meters in an area of the city where the land alone costs US$1000/m². Now it will add another 15,000 square meters of sale with only one, the project will have 35 floors and 90 apartments that today are sold from US$500,000 -those of 82 square meters- to US$1,500,000 -the semi-floors of 240 meters-, although it also has penthouses of US$3.5 million .
The units on the top floors will have a unique view
“We had more demand than supply ,” admits a surprised Brito, who sells for US$6,000 per square meter, a value above what completed properties are listing for in the city's youngest and most expensive neighborhood. "The market validated these prices because the apartments are a kind of fixed term in dollars: a different project with an international brand with a benefit that goes directly to the value of the unit," analyzes the businessman who plans to finish the venture in three years.
“We are preparing ourselves for any scenario” , the businessman answers when asked how a sudden devaluation would impact the project. Brito is convinced that today it is not a good business to store dollars and that the brick in high-end ventures is a refuge of value. “Not only do the pesos burn, the dollars, too” he assures. Perhaps that was the reason why in less than a year he sold more than 60 percent of the apartments .
The aerial view of the pool of the enterprise
The businessman clarifies that, in recent months, inflation in dollars in the world has slowed down due to the rise in US bond rates. But that, likewise, luxury apartments are a refuge of value.
When talking about numbers, he clarifies that he does not see the business from the financial margin but as liquidity insurance . His model is to sell with financing: 20 percent in dollars and the rest, in 36 pesified installments at the value of the MEP.
the behind the scenes
A team from Pininfarina worked two months full time on the design of the tower. First he toured Buenos Aires to study it in detail and discovered that Puerto Madero "was not Buenos Aires." So, they embarked on the challenge of creating a building that blends in with the architectural physiognomy of the other side of the dikes and they succeeded: today a picturesque building with curved lines and champagne color is being built .
The 35-story building will be built on Dock One in Puerto Madero
The bet on the Italian designer was played: in addition to paying for the architecture and design, a cobranding was closed, with which he promised to pay a percentage of sales . "We make sure that it will be a venture that will not go out of style," explains Brito and acknowledges that his public is only a gap, the highest in the pyramid. "She is the one who has dollars and is looking for different ventures that give her a sense of belonging," concludes the businessman who knows that this model works for him because it points to one of the niches least hit by the country's macroeconomic situation, the one who is still looking for where shelter the saved dollars .
This is how the interiors of the project will look
www.buysellba.com
The Pinanfarina seal will be embodied in the interior spaces
The amenities also worship design
Lighting, key in spaces
The units will be characterized by their dimensions
Stripped living rooms anticipate the trend of what is to come in design
