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Miami real estate news & trends

In an unprecedented move that underscores the unparalleled luxury and desirability of Miami Beach's real estate market, a penthouse at the highly anticipated Shore Club project is reportedly in contract for a staggering sum exceeding $120 million. This monumental sale is poised to establish a new benchmark for condo prices in Miami-Dade County, heralding a new era of ultra-luxury living.

A Historic Milestone in Luxury Real Estate

Developed by Witkoff and Monroe Capital, the Shore Club Private Collection, branded by Auberge Resorts Collection, is transforming 1901 Collins Avenue into a sanctuary of opulence. With Douglas Elliman spearheading sales and marketing, this 49-unit development has already captivated the attention of high-net-worth individuals, including an undisclosed buyer who has secured the penthouse.

Record-Breaking Figures

Slated for completion in 2026, the sale of this 10,500-square-foot penthouse is expected to exceed $11,000 per square foot, setting a record not only in Miami-Dade but likely across the state. The penthouse's allure is further magnified by its approximately 7,500 square feet of terraces and a private rooftop pool, offering an unrivaled luxury living experience.

A Blend of History and Modern Luxury

The Shore Club, a historic Art Deco hotel, is undergoing a transformative redevelopment by the esteemed Robert A.M. Stern Architects, in collaboration with Kobi Karp Architecture & Interior Design. This project, which also revitalizes the Cromwell Hotel from the 1930s, includes the addition of a new 200-foot-tall tower, seamlessly blending Miami's rich architectural heritage with contemporary luxury.

A New Benchmark for Miami Beach

As Miami Beach continues to attract global attention for its luxury real estate offerings, the Shore Club Private Collection stands out as a testament to the city's enduring appeal. With initial prices ranging from $6 million to $40 million, this development has set the stage for an unprecedented level of luxury.

The Future of Miami's Luxury Market

This contract signals a bright future for Miami's luxury real estate market, with South Florida's coastline witnessing soaring condo prices and record-setting developments. The Shore Club's penthouse is not just a property; it's a landmark sale that reflects the high demand and esteem for Miami Beach's luxury lifestyle.

As Miami Beach continues to redefine luxury living, I'm here to offer my expertise and insights into this dynamic market. Whether you're seeking to invest in one of Miami's iconic developments or explore other luxury properties, I'm ready to guide you through the opportunities that await in this vibrant city.

Looking for a home in the building? Text me.

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