Certainly! The recent sale of the $21 million full-floor penthouse at Ritz-Carlton Residences in Sunny Isles Beach, Florida, highlights the allure of luxury real estate in a prime coastal location. This transaction not only underlines the desirability of exclusive properties but also showcases the continued demand for high-end living experiences.
The Ritz-Carlton brand is synonymous with opulence and sophistication, and the Sunny Isles Beach development is no exception. Situated in a picturesque beachfront setting, this property embodies luxury living at its finest. The fact that the penthouse occupies an entire floor adds a sense of prestige and privacy, catering to the preferences of discerning buyers seeking the utmost exclusivity.
The substantial $21 million price tag underscores the premium associated with such a premium property. Buyers are evidently willing to invest significantly in acquiring not just a physical space, but an elevated lifestyle that encompasses top-tier amenities, breathtaking views, and the assurance of impeccable service—a hallmark of the Ritz-Carlton brand.
Moreover, this transaction sheds light on the resilience of the luxury real estate market, even in the face of economic fluctuations. The ability to command such a substantial price for a property during times of uncertainty speaks to the enduring appeal of prestigious addresses and the lasting value they offer.
In conclusion, the sale of the $21 million full-floor penthouse at Ritz-Carlton Residences in Sunny Isles Beach, Florida, offers a glimpse into the aspirational world of high-end real estate, where luxury, exclusivity, and exceptional living converge to create a truly remarkable living experience.
The developers have officially announced the successful sale of a full-floor penthouse within the prestigious Ritz-Carlton Residences located in Sunny Isles Beach, Florida. This noteworthy transaction, valued at $21 million, reflects the continued demand for opulent real estate offerings within prime coastal locales.
Occupying the entirety of the 51st floor within the 52-story condominium tower, the penthouse boasts an expansive 7,760 square feet of interior space. This includes four bedrooms, alongside dedicated staff quarters, six and a half bathrooms, a grand great room, multiple living areas, an expansive kitchen providing picturesque views, a fully equipped gym, a state-of-the-art home theater, and a versatile den. The collaboration of Fortune International Group and Château Group, the developers, ensures that the penthouse encompasses an unparalleled living experience.
The allure of this penthouse is magnified by its remarkable 13-foot ceilings and panoramic 360-degree vistas, capturing the entirety of the coastline and downtown Miami. This panoramic experience is expertly curated by Edgardo Defortuna, the CEO and President of Fortune International Group.
Furthermore, the apartment seamlessly integrates nearly 3,000 square feet of outdoor terraces, featuring a summer kitchen, a private pool, and an exclusive garden enclave. This fusion of indoor and outdoor spaces enhances the luxurious living proposition of the penthouse.
The penthouse’s journey commenced with a pre-construction contract secured in November 2015, which ultimately concluded following the tower’s acquisition of a certificate of occupancy in February of the present year. Notably, construction for the tower, which enjoys an impressive 250 feet of beach frontage, was initiated in mid-2016.
While the buyer hails from the United States, their identity remains undisclosed by the developers. As of now, the transaction has yet to be recorded in public records.
Of the tower’s total of 209 residences, approximately 80% have been successfully sold, inclusive of all four penthouses. Despite the challenges posed by the Covid-19 pandemic, the developers have managed to finalize 112 closings, with a significant proportion executed through virtual means.
In a recent development, the developers proudly announced the settlement of a $212 million construction loan facilitated by Bank OZK, an initiative undertaken in September 2016. Noteworthy is the fact that although the tower does not host a Ritz-Carlton-branded hotel, it does provide a range of Ritz-Carlton services and privileges. This includes a dedicated private club level situated on the 33rd floor, featuring eight private suites for resident guests, an upscale restaurant and bar, two distinct pool decks, a children’s club, a comprehensive spa, an advanced fitness center, and a holistic wellness center, among an array of other premier amenities.
