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Ritz-Carlton Penthouse under contract for $21M

By Marco Giancola

Real Estate Agent with Beachfront Realty 3220434

December 10, 2015 07:50 PM

The Ritz-Carlton Residences

A rendering of the penthouse level at the Ritz-Carlton Residences in Sunny Isles Beach

I introduced (in my blog) this spectacular building a few months back and this week.......

A buyer agreed to pay $21 million for a ocean front condo in Sunny Isles Beach that hasn’t been built yet.

The unnamed buyer combined two 51st-story units at the Ritz-Carlton Residences into a 7,735-square-foot apartment with five bedrooms and 6.5 bathrooms. An outdoor terrace offers a summer kitchen, infinity pool and private garden.

The 212-unit project hasn’t yet put a shovel in the ground but construction is expected to start next year, meaning the tower will likely open in 2018.

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Conrad Allen

Re/Max Professional Associates - Webster, MA

Webster, Ma, Realtor

Hi Marco. Do they have to put 10% down or more on the purchase? Thanks.

Dec 10, 2015 08:33 PM

Nina Hollander, Broker

Charlotte, NC
Marco Giancola

Miami Beach, FL

Marco Giancola

20% Conrad, then incrimental percentages as the building goes up.

Dec 10, 2015 08:43 PM

Roger D. Mucci

Shaken...with a Twist 216.633.2092 - Euclid, OH

Lets shake things up at your home today!

Plenty of room for me and my future ex-husband.....can't wait to move in!

Dec 10, 2015 09:14 PM

Please invite me to the home warming party!

Dec 10, 2015 09:40 PM

You're first on the list my dear!

Dec 10, 2015 09:51 PM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Geez, Marco.... I can't even imagine having that much money to spend on a penthouse! This one sounds totally spectacular!

Dec 10, 2015 09:54 PM

You should have seen the one that sold for $60M this summer

Dec 11, 2015 12:25 AM

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

Not in this lifetime! LOL

Even if I had the money, there are so many better ways to spend it! LOL

Dec 10, 2015 10:51 PM

Marco Giancola

Miami Beach, FL

If you had $21M for an apartment there would be lots and lots more to spend in other ways-trust me

Dec 11, 2015 12:33 AM

Nicole Doty - Gilbert Real Estate Expert

Zion Realty - Gilbert, AZ

Broker/Owner of Zion Realty ZionRealtyAZ.com

By the time that tower is built I bet that little $21 million dollar investment will be worth a whole lot more in 2018. That's how the rich get richer.

Dec 11, 2015 01:26 AM

That is one way for sure!

Dec 11, 2015 06:56 PM

Debb Janes

Nature As Neighbors - Camas, WA

Put My Love of Nature At Work for You

Holy heck. I remember this post and can't believe it. That's amazing.

Dec 11, 2015 01:33 AM

Brian England

Ambrose Realty Management LLC - Gilbert, AZ

MBA, GRI, REALTOR® Real Estate in East Valley AZ

That place looks incredible and I cannot even imagine having an apartment like that. I hope I get invited to Roger D. Mucci's party!!!

Dec 11, 2015 03:07 AM

Of course you will be invited.....you are welcome there any time Brian England

Dec 11, 2015 07:42 AM

Rob Arnold

Sand Dollar Realty Group, Inc. - Altamonte Springs, FL

Metro Orlando Full Service - Investor Friendly & F

Wow, that is amazing. How much fun would it be to stay there?!?

Dec 11, 2015 04:54 AM

I could definitely get used to it! Those private pool terraces are amazing.

Dec 11, 2015 06:57 PM

Ritz-Carlton Penthouse under contract for $21M

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