Luxury buildings have been overbuilt, he says, and developers may actually lessen amenities in the future to rein in costs. The Blue Star Jets subscription at 111 Murray makes sense for its clientele, but the real draw there (one that won’t change when a membership expires) is the coveted Tribeca location.
Aurora’s territory is a bit trickier: It’s not beachfront. There’s one long artery on that peninsula, just north of Miami Beach, called Collins Avenue. On the coveted east side is the Atlantic. Aurora sits on the other end of it, separated from the water by six lanes of traffic.
“Most buildings on the water are really expensive,” says Lobanov. “They can run $1,200 to $1,500 a foot, and they’re huge high rises.” He says the west side, the lost child of Collins Avenue, has rarely been developed in the past decade. And with the promise of flashy jet travel, who is worried about a few steps across hot asphalt?