News Summary

• Plenty of people own luxury condos, but far fewer get to flex a prestigious name like Bentley or Porsche when directing visitors to their new pad.Developers load up these buildings with amenities to help discerning buyers feel like they're getting bang for their buck.
• But as I talked with more people, it became clear that so-called branded residences are a global phenomenon that's here to stay, with developers laying the groundwork for branded towers in hot spots like Dubai, London, and New York.
• Rob Sykes, an associate principal at the global design firm WATG who advises companies on hotels and branded residences, told me developers shouldn't count on slapping a big name on a building and instantly reaping rewards.
• Itani estimates that developers working on a branded residence spend an extra 10% to 15% of what they would spend on a standard condo project, since they have to pay for all the additional amenities and the right to splash the brand's logo across the building.
• Luxury brands will probably always offer the biggest upside for builders, and even the "non-luxury" projects in the pipeline are still tied to respected brands like Hilton and are only slightly cheaper than the big-name buildings.
• The brand is known among gearheads for its attention to detail and air of exclusivity, qualities that Pagani hopes will translate to its next project: luxury condominiums.This spring, the company unveiled plans for Pagani Residences, a 70-unit condo development in Miami's North Bay Village.