Check out construction progress at the Ritz-Carlton Residences in Miami Beach

It's about 70 percent sold

Construction of the Ritz-Carlton Residences, Miami Beach is in the homestretch.

With most of the exterior done, the 7.5-acre project at 4701 Meridian Avenue is taking shape. Nearly all windows have been installed, glass railings are mounted on balconies and stucco and paint are in progress, according to the developer, Lionheart Capital.

Once completed by the end of the year, The Ritz-Carlton Residences will have 111 condo residences and 15 single-family villas. Designed by Piero Lissoni, the Ritz will feature gardens, pools and 36 private boat slips. Shared amenities will include an art studio, a rooftop pool deck with private cabanas and a restaurant, a waterfront bar and social room, pet grooming facilities, indoor and outdoor yoga studios, a meditation garden and carwash facilities.

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The Ritz is about 70 percent sold, according to a spokesperson. Douglas Elliman is handling sales, and prices range from $2 million to more than $40 million, the latter of which is for the eight-bedroom penthouse. Notable buyers include coal mining industry titans Wayne and Emeline Boich.

The development is being built on the former site of the Miami Heart Institute in a single-family neighborhood in Mid-Beach. – Amanda Rabines 

Video by Alistair Gardiner