Construction progress at The Ritz-Carlton Residences, Sunny Isles Beach has passed the halfway mark, with level 28 of 52 now poured.
In total, seven units worth $24 million were sold in a recent 45 day span, an average of one unit per week.
THE RITZ-CARLTON RESIDENCES, SUNNY ISLES BEACH IS MORE THAN HALFWAY COMPLETE AFTER SURPASSING PIVOTAL BENCHMARK
Construction of the landmark luxury project has extended past the 28th floor,
with the tower’s completion anticipated for 2019
SUNNY ISLES BEACH, FL – The skyline of Sunny Isles Beach continues to transform with the ongoing rise of The Ritz-Carlton Residences, Sunny Isles Beach. Construction of the ultra-high-end oceanfront tower has surpassed the midway milestone point, signifying that the building is on-schedule for next year’s projected delivery date.
The tower, which is the first building north of Bal Harbour, is now up to 28 of 52 full stories, with a majority of glass cladding securely in place. Adding to the momentum, the property’s joint developers, Fortune International Group and Château Group, have reported a recent string of back-to-back sales: Seven units totaling $24 million went under contract over the course of a 45-day period — an average of roughly one sale per week.
Featuring 250 feet of pristine beachfront with no hotel on the premises, The Residences is considered to be one of the most highly anticipated projects to enter South Florida’s prime property market, and a transformative addition to the immediate area’s flourishing luxury sector.
In conjunction with announcing news about the tower’s rise and subsequent success, the developers unveiled fresh aerial footage of the building, illustrating its ascent past the halfway mark. The signature curvilinear silhouette of The Ritz-Carlton Residences, Sunny Isles Beach, crafted by Arquitectonica, has clearly taken shape – a design inspired by the tower’s prime location overlooking the Atlantic Ocean and Intracoastal Waterway, as well as the rolling dunes of the adjacent beach. Airy and sunlit interiors by acclaimed Florentine architect Michele Bönan will complement the unique exterior, blending the spirit of modern day Miami with its rich architectural past.
“This is a celebratory moment for our team,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We are just steps closer toward delivering this spectacular offering to our buyers worldwide who are excited to call these stunning oceanfront residences their home.”
“We expect that this tower will elevate the standard for luxury real estate,” said Manuel Grosskopf, CEO of Château Group. “We have utilized the most innovative technology and craftsman-style techniques to create a product that is truly distinct – one that will ultimately be an icon on the coastline.”
Comprising 212 residences, The Ritz-Carlton Residences, Sunny Isles Beach will have a private club level on the 33rd floor, beach restaurant, pool deck, kids club, spa, fitness center and wellness center, among other top-line amenities. Residences start at $2.6 million, with penthouses offered upwards of $25 million. Additional highlights in each residence will include walk-in closets, laundry rooms with full-size washers and dryers, smart home technology and pre-wiring for high-speed internet access and Wi-Fi. Penthouses will feature lush garden terraces spanning 2,000 sq. ft. – 4,000 sq. ft., private pools and summer kitchens, custom-designed Italian cabinetry and well-appointed master suites with separate service quarters.