Miami real estate news & trends
In an exciting development for luxury real estate in South Florida, Fortune International Group, led by Edgardo Defortuna, and Château Group, under the leadership of Manuel Grosskopf, have officially launched sales for the north tower of the St. Regis Residences in Sunny Isles Beach. This announcement marks a significant milestone in the progression of their two-tower condo project located at 18801 Collins Avenue, with the south tower already achieving an impressive 80 percent presold status since sales commenced in 2022.
A Partnership Cemented in Luxury
The collaboration between Fortune and Château isn't new to the luxury real estate scene in Sunny Isles Beach. The duo has previously partnered on the Ritz-Carlton Residences, which they successfully completed in 2020. Their ongoing project, the St. Regis Residences, began construction in August, with a completion goal set for May 2027. The decision to construct both towers simultaneously, as Defortuna notes, is not only cost-effective but also enhances the project's appeal by ensuring a cohesive development timeline.
North Tower: A New Benchmark in Luxury Living
The north tower of the St. Regis Residences is poised to redefine luxury, standing tall at 62 stories and housing 170 units. These units, ranging from two to five bedrooms and spanning 1,800 to 5,500 square feet, are designed to cater to the discerning tastes of luxury buyers, with prices set between $4.5 million and $15 million. This pricing strategy reflects an upscale adjustment from the south tower, where units initially started at $3 million, a decision influenced by buyer feedback advocating for larger living spaces.
Architectural and Design Excellence
The architectural vision for both towers is the work of Miami-based Arquitectonica, with interiors by São Paulo's Patricia Anastassiadis and landscape design by Fort Lauderdale's EDSA. The St. Regis Residences will boast an array of high-end amenities, including pickleball and padel courts, a fitness center, pools, and clubs for kids and teens, alongside a private beach club and three ocean-facing pools. The inclusion of a residents club, a cognac room, wine bar, and gaming rooms underscores the project's commitment to providing a luxurious lifestyle.
A Focus on Family-Oriented Amenities
Recognizing the increasing trend of families spending more time in South Florida, Defortuna emphasizes the importance of kid-oriented amenities in attracting buyers looking for a family-friendly luxury living experience. This approach aligns with the broader lifestyle demands of today's luxury real estate market.
A Global Appeal
With a projected total sellout of $3 billion, the St. Regis Residences have attracted a predominantly American buyer base, alongside significant interest from South American and European clients. This international appeal is a testament to the project's exceptional quality and the global reputation of Sunny Isles Beach as a premier destination for luxury real estate.
Sunny Isles Beach: A Hub of Luxury Development
The St. Regis Residences join a growing list of high-profile condo projects in Sunny Isles Beach, further cementing the area's status as a hotspot for luxury development. With the Bentley-branded tower by Gil Dezer and a new luxury condo tower planned by Related Group, the future of Sunny Isles Beach looks brighter than ever for luxury real estate enthusiasts.
For those interested in exploring the unparalleled luxury of the St. Regis Residences or seeking insights into the vibrant Sunny Isles Beach real estate market, feel free to text me. With my extensive experience and deep understanding of Miami's luxury real estate landscape, I'm here to guide you through the process of finding your dream home.
