Michael Sadov, Sales Director, OKAN Tower Miami Residences

In an interview with Invest:, Michael Sadov, sales director of OKAN Tower Miami Residences, discussed the project’s mixed-use concept, the role of branded residences in Miami’s luxury market, and the city’s continued appeal to international buyers. “If investors understand what’s happening in Miami, they realize where you make money is on the appreciation side versus on daily day-trading rental income,” Sadov said.

How do you communicate OKAN Tower’s mixed-use value proposition to buyers clearly and compellingly?

We separate everything based on the customer in front of us. The first step is understanding what that particular customer is looking for. From there, we identify whether the condo-hotel concept is right for them, which is more of a pied-à-terre with hassle-free ownership and Hilton as their partner. When owners want to use the property, they show up with their bags, and when they leave, they give the keys back.

For the residential component, it depends on use. If someone plans to use the property more than 60 or 90 days a year, we typically guide them toward a straight residence, which we call the Sky Residences. They start on the 51st floor, and because of how the building is designed, they clear the surrounding buildings and offer unobstructed 360-degree views.

A Sky Residence owner also has the option to rent the unit independently through a realtor. We provide a high-level overview of all the components inside the building, but then tailor the conversation to the customer’s needs.

How important is brand affiliation in influencing buyer confidence and accelerating sales?

Branded residences have become important in Miami, especially since 2008 and 2009. Brand-centric projects typically bring about a 30% premium to the sale, as long as the project is positioned properly and connected to a major brand.

Hilton is one of the largest hoteliers in the world and has a massive booking and reservation system. For someone purchasing a condo hotel, having a major hotelier as a partner creates comfort and confidence.

In a competitive market like Miami, having a brand that delivers five-star service is an important differentiator. It separates a project from others and gives buyers confidence in the service and ownership experience.

How do you differentiate the condo-hotel units and private Sky Residences when speaking to investors versus end users?

The condo-hotel concept is common in Central and South America, but it is still newer in the United States. One major differentiator is that there is a separation between hotel guests, condo-hotel owners, and Sky Residence owners. The Sky Residences have separate entrances and separate lobbies.

When an investor is looking at a condo hotel versus a residence, it depends on what they are trying to accomplish. Investors today are savvy. They ask when the project launched, how much has been sold, and whether there have been price increases.

If someone asks about a cap rate, I tell them this may not be the right product for them. With a condo hotel, the appeal is different. Owners may use the property from time to time, potentially offset costs, and benefit from long-term appreciation.

If investors understand what’s happening in Miami, they realize where you make money is on the appreciation side versus on daily day-trading rental income. The Sky Residences can sometimes be a better investment because the owner controls their own destiny. They are not partnered with Hilton, and they can rent the unit for different periods throughout the year.

How do you balance the lifestyle and investment narratives in your sales and marketing strategy?

When we present the project, we explain all of its components and then educate the market. Around 95% of our business comes through outside broker outreach, so educating the brokerage community is critical.

There is something for everyone in this project. If someone wants to be part of a Hilton condo hotel and have a short-term rental opportunity, we have that. If someone wants a more private residential experience, we have the Sky Residences, which have their own lobby and separate amenities.

The Sky Residences include an observation deck and pool 815 feet in the air. Hotel guests do not have access to those amenities. We educate the market on these distinctions and tailor the purchase opportunity to the customer’s needs.

What tools or experiences are being used to help buyers understand the finished product before completion?

The market has become much more advanced. Some sales galleries now have immersive experiences where buyers can virtually walk through residences, step onto terraces, and understand the views before the building is completed.

Other projects have created VR rooms where buyers feel like they are arriving at an observation deck. The goal is to give customers an experience as if they were already there rather than selling only from paper or renderings.

Technology is now used across the full sales process, from CRM systems and lead capture to presentations and follow-up. Some systems record what a customer has been shown during a presentation and allow sales teams to send that information immediately afterward.

In Miami’s competitive market, technology and high-quality collateral materials are essential. Buyers expect that level of sophistication.

What makes OKAN Tower stand out from other branded residence developments in Miami?

Location is paramount in real estate, and we are located one block from MiamiCentral Station, where Brightline, Metrorail, Metromover, and Tri-Rail converge. Connectivity is a major advantage for the project.

Another differentiator is our construction progress. We are already around the 52nd floor of a 72-story building, and we are going up about one floor per week. Many customers do not want to wait five or six years for delivery, and we expect completion within about a year and a half.

Architecture is another differentiator. Our building is inspired by the tulip, the national flower of Turkey. The top of the tower is shaped like a tulip, creating a design that stands out on Miami’s skyline.

We are also close to Miami Worldcenter, and the area has evolved into a true urban core with restaurants, retail, transportation, and entertainment all within walking distance.

How is OKAN Tower approaching global sales, and which international markets are most important right now?

Historically, Miami was heavily driven by New Yorkers, and today, many financial firms and business leaders are relocating operations to South Florida, which has helped the market.

Central and South America also remain extremely important. Anywhere there is political instability, Miami becomes Plan B. Colombia is our No. 1 country right now, followed by Mexico. Spain, Guatemala, and Brazil are also important markets.

We travel constantly to support international sales. We are going to Spain, have a team in Canada, and go to Colombia every two months. International outreach is paramount to the success of Miami real estate.

Buyers from countries that have experienced currency devaluation often see Florida real estate as a safer place to preserve capital. That mindset continues to drive demand from Central and South America.