Ritz penthouse in Bal Harbour hits market at $30M

Miami /
Jul.July 28, 2015 04:00 PM

A penthouse in the Ritz-Carlton Bal Harbour has just hit the market for $30 million.

The residence is a top-floor unit measuring 7,874 square feet. Each of its five bedrooms has access to the unit’s 3,000-square-foot balcony, which has its own outdoor Jacuzzi and views of the Atlantic Ocean, Intracoastal Waterway and mainland Miami.

“It’s like a castle in the sky,” listing agent Chad Carroll of Douglas Elliman told The Real Deal.

The asking price of $30 million equates to a little more than $3,800 per square foot. If the unit sells at that price, Caroll said, his listing will break the record of the most expensive condo sold in Bal Harbour.

Caroll declined to mention any details about his client or why he’s selling. What he did say is that the owner purchased the unit directly from the developer and spent roughly $9 million building it out from scratch.

One of the most notable byproducts from that buildout is the master bedroom, which Carroll said is itself the size of a three-bedroom unit. It has its own office, lounge, massage room, plus two bathrooms and closets.

Since the listing went active a couple of days ago, the Realtor said he’s seen a lot of interest from international buyers. But he feels that a New Yorker could end up settling down in this unit.

“There’s a lot of New York-style shopping in Bal Harbour,” he said. “It’s like living near Central Park. It’s one of the most prestigious addresses in South Florida.”

The owner of the unit is listed as a company titled Santa Rita Real Estate, which leads back to the Commercial Property Group, a full-service real estate firm based in Doral that also works in asset management, according to Miami-Dade County property records. A deed filed in 2008 shows that Santa Rita paid $8.9 million to acquire the unit from WCI Communities, the developer of the building at 10295 Collins Avenue.

Bal Harbour is no stranger to pricey listings: a month ago and roughly a mile away, a full-floor unit at the St. Regis Bal Harbour was put up for sale at $25 million.


Related Articles

arrow_forward_ios
Miami has seen a constant stream of sales over the past several months (Getty)
Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
Christopher Ricci, Lana Bell and Thor M. Brown
Movers & Shakers: Lana Bell, Thor Brown join Douglas Elliman & more
Movers & Shakers: Lana Bell, Thor Brown join Douglas Elliman & more
Robert Reffkin and Michael Karp (Compass, Linkedin)
Compass acquires BEX Realty’s Florida agents
Compass acquires BEX Realty’s Florida agents
Judy Dolan of Levy Realty Advisors, Jay Parker and Gus Rubio of Douglas Elliman
Movers & Shakers: Douglas Elliman promotes Florida execs & more
Movers & Shakers: Douglas Elliman promotes Florida execs & more
Lourdes Alatriste and Miguel Solis with a rendering of Quint Hollywood
Elliman takes over sales of Quint Hollywood, marking third change in a year
Elliman takes over sales of Quint Hollywood, marking third change in a year
Eloy Carmenate and Mick Duchon
Elliman agents Eloy Carmenate, Mick Duchon leave to join Corcoran Group
Elliman agents Eloy Carmenate, Mick Duchon leave to join Corcoran Group
Chris Leavitt, Ashley McIntosh, Tal Alexander, Oren Alexander, Dina Goldentayer and Gary Pohrer (Douglas Elliman)
Palm Beach agent Gary Pohrer and The Alexander Team take top awards at Elliman
Palm Beach agent Gary Pohrer and The Alexander Team take top awards at Elliman
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...