A Condo Building Just for Luxury Cars Is Coming to Coral Gables

What an amazing time to be a rich person in Miami-Dade. The market just keeps providing you guys with luxury things that us poorer people couldn't even imagine actually existed. Things like condos for your cars. No, not condos to actually live in and park your car nearby like the under-construction Porsche Design Tower in Sunny Isles Beach. A condo that is literally just a nice place to store your collection of luxury automobiles. 

The new project to do just that is called the Gables Auto Vault and it will be located at 3851 Bird Road. It's currently a vacant lot but is blocks away from a few high-end luxury car dealerships, including the Collection. It's a collaboration between CFH Group and developer Sheldon Lowe, and just received a $19.5 million loan for construction. 

The five-story building will feature ground-floor retail, but the rest will be dedicated to car condos. According to the Real Deal, the individual condos are priced between $500,000 and $2,000,000. Each unit can fit between six to 20 cars. Oh, and it's already 50 percent sold out to local buyers. 

The location was also approved to have "several" car washes, according to the South Florida Business Journal

"We knew there was a demand for secure [luxury] car storage,” Nathan Vedrani, director of acquisitions for CFH, told the Real Deal

These won't just be glorified parking spots either. There will be air conditioning, full-time security, and interior design with luxury finishings within each unit. We're not talking concrete boxes here, but rather a comfortable place for one to sit and look lovingly at the millions of dollars worth of automobiles they've collected.

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