Developers boast a sold-out tower less than two weeks after launch.
LOS ANGELES – Renowned developer The Related Group and hospitality conglomerate sbe have launched their first joint project in the Argentine capital of Buenos Aires with SLS LUX Puerto Madero – the second in Related and sbe's SLS LUX brand and a continuation of the partnership's success which includes two high-profile condominium and hotel tower deliveries this year in Miami and Hollywood, Florida. The two-tower condominium has been met with a strong response and boasts full reservation at its first tower and 30% percent of its second only 11 days after sales launch.
Jorge M. Perez, Related's Chairman and CEO, said, "We spent a great deal of resources searching for the right site to develop this concept with sbe and as someone born in Buenos Aires, I'm extremely pleased to launch a project in my home town. I can say with confidence that we share President Obama's positive outlook on Argentina and that the time to once again invest in Argentina is here."
Located in the chic Puerto Madero neighborhood, SLS LUX Puerto Madero will be made up of 128 condo residences and 64 furnished designer suites. The Milan-based Piero Lissoni will craft bespoke interiors for the development's public spaces and suites, famed Swiss architect Enzo Enea will create custom landscaping and Argentine firm VMA will serve as the project's local architect. Completion is scheduled for 2019.
The announcement comes on the heels of the sold-out SLS Brickell and Hyde Hotel & Residences, two of the area's most highly anticipated residential developments reshaping the downtown Miami and southern Broward neighborhoods.
"When you combine sbe's status as one of the most highly respected names in hospitality and Related's 30+ years as a leader in luxury development, you get a project that would have been impossible for one of our firms to do alone," said Carlos Rosso, Argentina native and President of The Related Group's Condominium Development division. He added, "Our shared goal of delivering the best in design, amenities and location has made our projects in South Florida extremely successful and we are eager to bring our joint expertise to Puerto Madero's incredibly demanding and sophisticated buyers."
"sbe & SLS Hotels couldn't be more thrilled to announce our seventh project developed in partnership with The Related Group and Jorge Perez. We are so proud to have thousands of Argentinian loyalists experiencing the SLS family of hospitality offerings in the United States every year and we strongly believe a product with this level of style, luxury and service will do exceptionally well in Buenos Aires," said Sam Nazarian, Founder, Chairman and CEO of sbe.
SLS LUX Puerto Madero will be the 14th property in the growing line-up of, SLS Hotel & Residences, which will represent over 3,900 hotel rooms and 1,600 residences world-wide by 2019. The latest evolution of the award-winning SLS Hotels residential brand offers unrivaled hospitality service, sophisticated conceptual design and a best-in-class approach to a personalized lifestyle product. The first launch of this new concept will be SLS Brickell Hotel & Residences set to debut in Fall 2016 in Miami. Other sbe projects are currently underway in Philadelphia, Pennsylvania; Washington D.C. and the Bahamas.
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