Ritz Carlton Residences South Beach Plans Sprawling $125 Million Penthouse Posted on February 23, 2024February 25, 2024 by Sarah Elles Boggs Details are still forthcoming. Please contact Michael Light for a private presentation at 786-566-1700. About a month after being quietly announced, details of the anticipated Ritz-Carlton Residences South Beach (formerly the Sagamore Hotel) are beginning to trickle out with whispers of the sprawling ultra-luxury oceanfront penthouse that is expected to command $125 million. The crown jewel penthouse is a combination of the two duplex penthouse in the 15-story development, answering the demand from rich buyers who seek to build a “triangle” of luxe residences in multiple cities that that owners and their families can bounce between. Ritz Carlton Residences/Sagamore Miami Beach With 30 total residences and prices beginning at $3.9 million, developers expect a sell-out value of $450 million for the boutique project. Since inventory of exclusive properties such as the Ritz Carlton Residences South Beach is so low, the project is anticipated to sell out fast. Another example of an uber-exclusive project is The Perigon Miami Beach, where buyers have been known to claim multiple residences with the idea to decide which to reside in at a later date. While it may sound risky to laymen, this demand is relatively normal for the savvy buyers of Manhattan’s most elite where Ken Griffin recently broke a record with a $238 million penthouse purchase. It is not uncommon for investment juggernauts such as Mr. Griffin to buy now and decide later. “Miami is not just a tourist economy anymore,” co-developer Dayssi Olarte de Kanavos told Bloomberg. “We now have so many hedge fund, venture capital and real estate workers who live here.” Rendering of the Ritz Carlton Residences/Sagamore Miami Beach South Beach The tower is to be built at 1671 Collins Avenue, along what is now known as Billionaire’s Row in Miami Beach. Owners will enjoy residences of 1-5 bedrooms that include Ritz-Carlton branded amenities such as an oceanfront beach club and spa as well as a Michelin-starred culinary experience. The Ritz-Carlton Residences South Beach is expected to be completed at in the Spring of 2027. Douglas Elliman is the exclusive broker for this private collection of units at The Ritz-Carlton Residences South Beach. If you are interested in a private presentation of the building, in person or via zoom, please contact Michael Light, Executive Director of Luxury Sales at Douglas Elliman and member of the elite Sports and Entertainment Division. Only qualified buyers will be able to view floor plans, renderings and have access to site tours. You may reach Michael directly at 786.566.1700 or via email at michael@miamiluxuryhomes.com. Rendering of the Ritz Carlton Residences/Sagamore Miami Beach South Beach Image Credit: The Ritz Carlton South Beach
Insider Details…New Sagamore/Ritz-Carlton Residences South Beach Posted on January 17, 2024January 23, 2024 by Michael Light Details are still forthcoming. Please contact Michael Light for a private presentation at 786-566-1700. The newest ultra-luxe oceanfront condo building on the horizon for South Beach will be dubbed The Ritz-Carlton Residences South Beach. This new construction, 15-story boutique condo building will be situated behind the historic Sagamore Hotel and cantilevered over the current Ritz-Carlton South Beach Hotel. This private collection of only 30 oceanfront beach houses in the sky will include interior design by Studio Munge, who is led by the creative mastermind Italo-Canadian designer Alessandro Munge, who is also designing the Ritz-Carlton sister-branded-condo nearby at the EDITION Residences in Miami’s Edgewater neighborhood. Besides the direct-ocean views from every residence, what sets this building apart from others: an exclusive residents’-only amenity floor, signature on-site restaurant by a Michelin-star chef (to be announced privately), preferred access to Sagamore and The Ritz-Carlton hotels’ unparalleled services and amenities and owner benefits at related hotel brands around the world. Douglas Elliman is the exclusive broker for this private collection of units at The Ritz-Carlton Residences South Beach. If you are interested in a private presentation of the building, in person or via zoom, please contact Michael Light, Executive Director of Luxury Sales at Douglas Elliman and member of the elite Sports and Entertainment Division. Only qualified buyers will be able to view floor plans, renderings and have access to site tours. You may reach Michael directly at 786.566.1700 or via email at michael@miamiluxuryhomes.com.