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."