WATCH: Concrete pour of the Ritz-Carlton Residences in Sunny Isles Beach

Miami /
May.May 18, 2017 03:25 PM

The foundation is laid, and now the Ritz-Carlton Residences, Sunny Isles Beach is going vertical.

Eighty trucks delivered 600 loads of concrete to complete the foundation of the luxury condo building in Sunny Isles Beach. More than 100 Suffolk Construction workers wrapped up the foundation pour of the 52-story tower at 15701 Collins Avenue at the end of April.

A joint venture of Fortune International Group and the Château Group is developing the building. It’s being designed by Arquitectonica with interiors by Florentine architect Michele Bönan. Prices range from $2.5 million to $30 million for penthouses, or an average of about $1,500 per square foot. Sales were at nearly 65 percent in February.

The nearly 19-hour construction pour resulted in a 22,000-square-foot mat that has more than 1,110 tons of reinforced steel, according to a press release.

The developers closed on $163.11 million in construction financing from Bank of Ozarks in September, boosting their mortgage to $212.11 million. The tower is expected to top off in late 2018 and will be completed in mid-2019, he said.

For more videos, visit The Real Deal’s YouTube page. – Katherine Kallergis and Alistair Gardiner


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