realestate

Michael Stern Partners with Italian Entrepreneur Gianluca Vacchi

Italian Entrepreneur Gianluca Vacchi Partners with Developer Michael Stern on $4 Billion Real Estate Pipeline.

I
talian entrepreneur Gianluca Vacchi is teaming up with developer Michael Stern to bring his marketing expertise and wellness knowledge to a $4 billion pipeline of new real estate projects in South Florida. The joint venture between Vacchi's GV Development Group and Stern's JDS Development Group will focus on condo developments, including Mercedes-Benz Places Miami, the Dolce & Gabbana-branded 888 Brickell, and the proposed 1250 West Avenue project in Miami Beach. These projects are expected to total around 1,150 condos.

    Vacchi, who has a combined 45 million followers on Instagram and TikTok, will leverage his social media presence to sell these developments. He's known for showcasing his lifestyle on social media, which includes traveling, working out, and spending time with family. Vacchi is also a DJ and has been described as a "tastemaker" by Stern.

    The two partners have known each other since 2020 when Vacchi bought a home in Miami Beach from developer Valerio Morabito for $24.5 million. They've been working together on the developments for about nine months, with Vacchi spending around three to four months a year in Miami.

    Vacchi's wellness expertise will also be incorporated into the projects, which may include amenities such as cold plunging and infrared cycling. He's also considering opening a restaurant that operates only during intermittent fasting hours. "I'm not very conventional," Vacchi said, "and so I'll try to do my best to give these buildings my unconventionality."

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