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The Ritz Carlton Residences In Miami Beach

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The new Ritz Carlton Residences in Miami Beach is probably the most unique new project in all of South Florida. First, it is taking advantage of a previous structure that was essentially gutted and rebuilt. Any other luxury projects are new, ground-up development. Secondly, the project lies in the heart of an exclusive residential area comprised of single-family houses. Buyers who are interested in this project have nothing else to compare this to. As such, sales so far have been strong, with a reported $30,000,000 combined penthouse selling earlier this quarter (translates into a price of about $2,500/square foot).