Italian Mogul Gianluca Vacchi Joins Developer Michael Stern on $4 Billion South Florida Real Estate Ventures

Italian entrepreneur and social media star Gianluca Vacchi is teaming up with renowned developer Michael Stern to launch an ambitious lineup of luxury real estate projects in South Florida valued at $4 billion. Known for his marketing savvy and wellness expertise, Vacchi is set to bring his unique flair to South Florida’s high-end condo market.

Through his GV Development Group, Vacchi has partnered with Stern’s JDS Development Group to form a joint venture. They are working on iconic projects, including Mercedes-Benz Places Miami, the Dolce & Gabbana-branded 888 Brickell, and the proposed 1250 West Avenue development in Miami Beach. These condo projects will offer around 1,150 luxury units.

Vacchi’s background includes a successful tenure with his family’s company, IMA Group, a global manufacturing empire. He sold his stake in IMA in 2023 when BC Partners offloaded it to BDT & MSD Partners in a €7 billion deal. His U.S.-based GV Development Group is an extension of his Italian company, Cofiva Holding.

Vacchi and Stern first met in 2020 after Vacchi purchased a $24.5 million Miami Beach mansion from developer Valerio Morabito. They began collaborating about nine months ago and have since launched several ventures, including Sunset Padel, a high-end indoor padel club in Miami Beach’s Sunset Harbour, in partnership with Chris Paciello and Rafi Gibly.

With 45 million followers on social media, Vacchi plans to use his extensive online presence and marketing acumen to promote their luxury condos. Stern sees Vacchi’s influence as key to connecting with potential buyers uniquely, mainly through social media, a platform many traditional developers haven’t fully tapped.

Beyond real estate, Vacchi also brings his wellness philosophy to their developments. Known for his dedication to fitness, Vacchi envisions incorporating wellness-focused amenities, like infrared cycling and cold plunge facilities, into the properties. He even considers unconventional ideas, such as a restaurant operating only during intermittent fasting hours.

Stern describes Vacchi as a “tastemaker.” Vacchi brings his own brand of creativity to the projects, blending health, lifestyle, and global appeal. The two are equal partners in this venture, which plans to expand into new markets soon. Vacchi says he’s ready to infuse these developments with his unique, ever-evolving style and passion for wellness.