In an extreme example of buying on spec, an unbuilt Florida penthouse was recently scooped up for $21 million. The 7,735-square-foot oceanfront condo will occupy the top floor of the Ritz-Carlton Residences in Sunny Isles Beach, a soon-to-be-constructed property designed by by Miami-based firm Arquitectonica with interiors by Italian designer Michele Bönan. What’s more, the condo will include five bedrooms, six and a half baths, a 3,560-square-foot garden terrace, and a private pool.
"Sunny Isles has had the biggest transformation of all of Miami" says Edgardo Defortuna, CEO of Fortune International Group which is developing The Ritz-Carlton Residences, Sunny Isles Beach. "It's difficult to find oceanfront sites in Miami Beach. Here, developers can do large volume and expressive architecture."
His project is located on the first site coming from Bal Harbour and, when complete in 2018, the 52-storey tower will comprise 212 residences ranging from 2 bedroom units of 1605sf to four-bedroom penthouses.
El mercado de Real Estate de Miami está viviendo uno de sus mejores momentos, y una de las zonas que más se está desarrollando es Sunny Isles Beach. Es justamente ahí donde van a comenzar a construir las Ritz-Carlton Residences.
Este desarrollo de 52 pisos, a cargo de Edgardo Defortuna de Fortune International Group junto con Château Group, está ubicado frente a la playa. La construcción comenzará en 2016 y planean terminarlo para 2018.
A penthouse in a Miami building that has yet to be completed just changed hands for a whopping $21 million, according to developers Fortune International Group and Château Group.
The entire 51st floor of the 52-story Ritz Carlton Residences at Sunny Isles Beach is currently under contract. Construction will begin on the condo building in 2016, with a projected completion date of 2018.