With a value of USD 120 million, the sale with the highest price in the condominium segment in Miami was closed. It is a penthouse located in The Shore Club Private Collection project, located in Miami Beach, an exclusive development that is under construction and whose delivery is estimated for 2026. This news confirms the strengthening of the real estate market in the city and the large supply of homes for sale in Miami.
Miami Condos: Negotiation Details
According to the report of the specialized portal The Real Deal, the condominium that was sold is under contract and the payment of the announced value would be made once the work is finished. The penthouse has an area of about 975 square meters or 10,500 square feet, and if the deal goes through, it would also be a record for condominiums in Miami in value per square meter (almost USD 123,000).
Of the 975 square meters, nearly 700 correspond to terraces, in which there is a private pool, according to the description of the condominium on The Shore Club Private Collection website.
This project includes, in addition to 49 condominiums, a hotel under the Auberge Resorts Collection brand.
What was the previous record?
The Real Deal noted that the previous record for sales price in the Miami condo segment was from a 2015 sale at Faena House in Miami Beach.
“Billionaire hedge fund manager Ken Griffin paid $60 million for two units, although at the time it was reported that it was a duplex unit (…). Since then, Griffin has broken other records in South Florida, including the 2022 purchase of Adrienne Arsht’s former Coconut Grove estate for about $107 million. That sale set a record for single-family home sales in Miami-Dade County.
Interested in condos in Miami?
If you are interested in investing in the South Florida real estate market and want to know the offer of condominiums in Florida, we invite you to learn about the portfolio of properties we have at PFS Realty. There you will find a wide variety of homes for sale in Miami that will fit your tastes and needs.
