January 27, 2022

Construction on this Miami-area condo building hasn’t even begun — and a penthouse already sold for $21 million

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ritz-carlton-residences-sunny-isles-beachBy Dennis Green From Business Insider

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.

Though it was originally being sold as two separate residences, the buyer — who is a “successful entrepreneur,” the developer told The Wall Street Journal — elected to combine them into a full-floor penthouse.

Another full-floor penthouse one floor up is still on the market for $30 million.

Ritz-Carlton Residences, Sunny Isles Beach Michele Bönan

IMAGE; A rendering of what the penthouse will look like once built.

For more on this story go to: http://www.businessinsider.com/unfinished-ritz-carlton-penthouse-sells-for-21-million-2015-12?utm_source=feedburner&amp%3Butm_medium=referral&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29

Related story:

An insane Florida mansion that was once the most expensive home in the US is back on the market — and now it’s even more expensive

le-palais-royalBy Dennis Green From Business Insider

A rendering of what the full compound will look like once fully constructed.

One of the most expensive houses ever listed for sale in the US is back on the market — and this time it’s asking even more.

“Le Palais Royal,” a 60,000-square-foot, Versailles-inspired compound in Hillsboro Beach, Florida, spent a year on the market without selling at an asking price of $139 million. Though that price made it the most expensive home for sale in the US at the time, its main residence’s construction has now been completed, and it’s currently listed for sale with an even higher price tag: $159 million.

That price includes new additions on a lot adjacent to the property, which the listing refers to as “phase two” of the construction. When completed, it will feature some crazy amenities, including an underground party zone with an ice-skating rink, a track for go-karting, a two-lane bowling alley, and even space that can be used for a nightclub.

It is currently owned by construction mogul Robert Pereira, who had originally planned to live in the residence, but changed his mind, according to The Wall Street Journal.

Mayi de la Vega of One Sotheby’s International Realty has the listing.

For more on this story go to: http://www.businessinsider.com/le-palais-royal-on-sale-for-159-million-2015-11

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