Full-Floor Penthouse at the Ritz-Carlton Residences in Sunny Isles Beach, Florida, Sells for $21 Million

A full-floor penthouse at the Ritz-Carlton Residences in Sunny Isles Beach, Florida, has sold for $21 million, the developers announced Thursday.

Spanning the entire 51st floor at the 52-story condominium tower, the penthouse has 7,760 square feet of interior space, including four bedrooms and staff quarters, six-and-a-half bathrooms, a great room, a living room, a family room, an expansive kitchen with views, a gym, a home theater and a den, according to developers Fortune International Group and Château Group.

“It features 13-foot ceilings and 360-degree views of the entire coastline and downtown Miami,” said Edgardo Defortuna, chief executive officer and president of Fortune International Group.

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The apartment also has nearly 3,000 square feet of outdoor terraces with a summer kitchen, a private pool and a private garden.

The penthouse went into contract in November 2015, pre-construction, but didn’t close until the tower was granted a certificate of occupancy this past February, according to Mr. Defortuna.

Construction of the tower, with 250 feet of beach frontage, began in mid-2016.

The buyer is from the U.S., but the developers declined to disclose their identity. The transaction has yet to appear in public records.

About 80% of the tower’s 209 residences have sold, including all four penthouses. In the midst of the Covid-19 pandemic, the developers have completed 112 closings, with a great number of them conducted virtually, Mr. Defortuna said.

Late last month, the developers announced that they have paid off a $212 million construction loan from Bank OZK, which they undertook in September 2016.The tower, which has no Ritz-Carlton-branded hotel on the premises, has Ritz-Carlton services and a private club level on the 33rd floor, including eight private suites for resident guests, a restaurant and bar, two pool decks, a kids club, a full-service spa, a fitness center and a wellness center, among other top-line amenities.

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