Sunny Isles Ritz-Carlton Penthouse Under Contract for $16.5 Million by Fortune International Group, Construction Begins in June

Posted by CHABELI HERRERA — May 19, 2016

Article Originally Published by The Miami Herald

1463680982MIAMI, FL - The luxury condos at the not-yet-built Ritz-Carlton Residences in Sunny Isles Beach have snagged another wealthy buyer, this time for a $16.5 million top-floor penthouse.

Construction for the 212-unit, 52-floor project will begin early next month with now three of its five penthouses under contract. The tower, at 15701 Collins Ave., is scheduled for completion in 2018.

In December, the 51st floor, 7,735-square-foot penthouse at the Ritz-Carlton sold for $21 million, setting a record for Sunny Isles Beach.

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The most recent purchase of the 52nd floor penthouse includes 6,320 square feet of oceanfront property, with four bedrooms, 4.5 bathrooms, a private garden and an infinity pool. Until the sale is finalized, the identity of the buyers and the exact sale prices will not be known.

The two-to-four bedroom residences begin at $2.5 million. The project was developed in partnership with Miami-based Fortune International Group and the Château Group.

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More than 65 percent of the units in the tower are under contract, according to developers.

“Selling the top two, full-floor penthouses before construction has even commenced is quite an achievement,” said Edgardo Defortuna, CEO of Fortune International Group.

The condos at the Ritz Carlton aren’t the only pricey residences up for sale in Sunny Isles Beach. Early this month, developers listed a condo at the Beach House at Regalia for $35 million.

 

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