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.
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.