Ritz-Carlton Residences, West Palm Beach Penthouse Last Listed at $16.95 Million Under Contract For North Flagler Record Total Price and PPSF

A penthouse at The Ritz-Carlton Residences, West Palm Beach has gone under contract after being listed for $16.95 million, setting a new benchmark as the highest-priced condominium sale ever recorded on North Flagler Drive by both total sales price and price per square foot.

The contract marks another milestone for the waterfront luxury development by Related Group and BH Group, underscoring continued demand for branded ultra-luxury residences in West Palm Beach as construction progresses toward its anticipated 2028 completion.

Located on the 27th floor, Penthouse A is the signature residence within the 27-story tower. The four-bedroom, five-and-a-half-bathroom home encompasses 4,897 square feet of interior living space, complemented by approximately 1,200 square feet of private outdoor terraces overlooking the Intracoastal Waterway, Palm Beach Island, and the Atlantic Ocean.

Accessed via a private elevator, the residence features expansive entertaining spaces, soaring 12-foot ceilings, floor-to-ceiling glass, oversized closets, dual primary bathrooms, and a highly customized floor plan designed to maximize indoor-outdoor living. Its elevated position within the tower and unobstructed southeast-facing views distinguish it as the project's premier home.

According to the development team, the purchaser is an existing Palm Beach resident seeking to upgrade to a larger primary residence while remaining in the area. The penthouse's spacious layout, privacy, and ability to accommodate both everyday living and large-scale entertaining were key factors in the purchase decision.

Developed by Related Group in partnership with BH Group, The Ritz-Carlton Residences, West Palm Beach will introduce 138 waterfront residences within a 27-story tower. Homes range from two to four bedrooms and approximately 1,532 to 3,331 square feet, with every residence oriented east to capture panoramic water views.

Designed by Arquitectonica, with interiors by Rockwell Group and landscape architecture by Naturalficial, the development combines contemporary architecture with The Ritz-Carlton's signature hospitality. Residences feature soaring ceilings, floor-to-ceiling glass, custom Italian cabinetry, premium appliances, expansive terraces, and private elevator access.

The amenity collection includes a resort-style waterfront pool deck, state-of-the-art fitness and wellness center, spa, entertainment lounges, coworking spaces, children's playroom, golf simulator, guest suites, and a full suite of Ritz-Carlton residential services. Construction is currently underway, with completion anticipated in 2028.

Renderings via The Boundary

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Related Group and BH Group Break Ground on Icon Beach Waterfront Residences in Hollywood

Hollywood's rise as one of South Florida's most coveted coastal destinations takes a defining step forward today with the official groundbreaking of Icon Beach Waterfront Residences. Developed by Related Group and BH Group, the 38-story, 350-residence tower rises above a shoreline perfectly situated between Miami and Fort Lauderdale, delivering a rare dual-water lifestyle anchored by a private 32-slip marina and resident-exclusive beach club at a price point that remains among the most compelling on South Florida's coastline.

The groundbreaking follows the recent closing of a $360 million construction loan from Tyko Capital, underscoring institutional confidence in both the Hollywood market and the development team behind it. With completion anticipated in 2028, the vision is rapidly coming to fruition.

“For years, Hollywood existed in the shadow of South Florida's more established coastal destinations. Not anymore,” said Nick Pérez, President of Related Group's Condominium Division. “The city is experiencing a remarkable transformation, and what we're building here is a direct reflection of that momentum. Today, we’ve started work on a destination where exceptional design, resort-inspired amenities and an unparalleled waterfront lifestyle come together for buyers who expect the very best and see Hollywood as the place to find it."

Positioned between the Atlantic Ocean and the Intracoastal Waterway, Icon Beach places residents at the center of South Florida's most extraordinary natural assets. With panoramic views stretching from sunrise over the ocean to sunset across the Intracoastal, the tower is crafted to celebrate water at every turn.

Envisioned by Cohen Freedman Encinosa & Associates with interiors by the award-winning Meyer Davis and landscape architecture by Witkin Hults + Partners, the development offers one- to three-bedroom residences spanning 948 to 2,580 square feet along one of South Florida's most sought-after stretches of coastline. Open-concept floor plans, floor-to-ceiling glass and oversized sliding doors open onto generous private terraces where the horizon stretches in every direction.

Primary suites offer a serene counterpoint, with spacious walk-in closets, spa-style bathrooms and soaking tubs appointed with fixtures from Kohler and Hansgrohe that transform everyday routines into something worth savoring. Kitchens are outfitted for both form and function with custom Italian cabinetry, large center islands and imported porcelain countertops in two curated finishes, paired with a premium suite of Bosch and Thermador appliances that bring a chef-inspired sensibility to every meal.

"What makes Icon Beach special isn't just its location, but how deeply the building is connected to the water around it," said Isaac Toledano, Founder of BH Group. "That philosophy extends from the residences themselves to the private marina, the exclusive beach club and the resort-style amenities designed around life on the water. The intention behind every detail is felt from every angle and there is simply nothing else in the market that comes close."

At Icon Beach, 40,000 square feet of amenity space unfolds around a single organizing principle: life is better on the water. The sparkling resort-style pool with sun shelf serves as the social heart of the property, flanked by stylish private cabanas and a tranquil spa and wellness center complete with cold plunge, steam room and Jacuzzi. A state-of-the-art 3,000-square-foot health club, equipped with advanced cardio and weight training equipment and dedicated yoga rooms, ensures that wellness is never more than an elevator ride away.

Beyond the pool deck, an outdoor cinema, sunset yoga lawn, summer kitchens and a reservable event space overlooking the Intracoastal Waterway create a setting that shifts effortlessly from a quiet morning to an evening among friends. A residents' gathering lounge and alfresco cocktail bar round out an amenity program conceived for every hour of the day.

Access to a private marina and a full-service beach club extend the Icon Beach lifestyle to the open ocean and Hollywood's beautiful shoreline. A dedicated concierge, 24-hour front desk, valet and security team ensure that every arrival feels like a welcome, and every request is met without hesitation. Select works from the world-renowned Jorge M. Pérez Contemporary Art Collection are woven throughout the common areas, lending Icon Beach a cultural depth that runs as deep as its design.

Icon Beach arrives at a pivotal moment for Hollywood, which recently celebrated its centennial anniversary – a milestone that reflects its remarkable evolution from a quiet beachfront retreat into one of the most sought-after waterfront destinations in South Florida. The Diplomat Beach Resort, long a cornerstone of the city's hospitality identity, recently reopened after a transformation and rebranding as Signia by Hilton, signaling the caliber of investment now flowing into the market. The Broward County Convention Center continues to drive consistent business activity, while ongoing development along the Hollywood Beach Broadwalk and a wave of acclaimed restaurants moving north from Miami are reshaping the city's culinary and cultural landscape. Sophisticated buyers are increasingly drawn to Hollywood's rare combination of natural beauty and urban convenience, and Icon Beach is where that demand finds its answer.

Renderings via ARX Creative

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Related Group and BH Group Break Ground on The Ritz-Carlton Residences, West Palm Beach

Leading real estate developers Related Group (Related) and BH Group, in collaboration with Marriott International, have officially commenced construction on The Ritz-Carlton Residences, West Palm Beach. Following exceptional pre-construction sales, with more than 70% of residences already spoken for, the boutique ultra-luxury development is expected to be completed in 2028.

“We surpassed $150 million in sales in the last six months, underscoring just how strong the West Palm Beach market has become – and how The Ritz-Carlton Residences, West Palm Beach is at the heart of that momentum,” said Nick Pérez, President of Related Group’s Condominium Division. “Having worked in this market for decades, we’ve seen West Palm Beach evolve into one of the most talked-about luxury destinations in South Florida. We knew this project would resonate, but it quickly emerged as one of the fastest-selling developments in our portfolio. We’re excited to see this trajectory continue.”

“West Palm Beach has entered a new era of growth, driven by strong migration trends and sustained demand for ultra-luxury waterfront living,” said Isaac Toledano, Founder of BH Group. “With The Ritz-Carlton Residences, West Palm Beach, we are introducing a product that reflects both the strength of the market and the elevated expectations of today’s buyers.”

Rising 27 stories along a prime waterfront site, the tower embodies the Ritz-Carlton’s timeless elegance and exacting design standards. Thoughtfully crafted by Arquitectonica with interiors by Rockwell Group and landscaping by Naturalficial, each of the 138 residences are intentionally oriented eastward to frame sweeping coastal views and vivid turquoise waters from every home – offering an uninterrupted connection to West Palm Beach’s waterfront lifestyle.

The two- to four-bedroom homes, ranging from 1,500 to over 3,000 square feet, are crafted to maximize light and air, with open layouts and floor-to-ceiling windows that extend effortlessly to expansive private balconies. The Chef-inspired kitchens are appointed with custom Italian cabinetry and top-of-the-line Sub-Zero and Wolf appliances while bathrooms showcase bespoke Hansgrohe fixtures. Each residence includes dedicated elevator access, an entry foyer, pre-wired smart home technology and keyless entry.

“Our goal was to create interiors that embrace the energy and beauty of life on the water,” said David Rockwell, Founder and President of Rockwell Group. “The eastern orientation shapes every detail, filling each space with natural light and horizon views. Floorplans flow seamlessly for both entertaining and everyday living, while materials, textures and finishes have been carefully chosen to balance elegance and functionality, making every residence as inviting as it is spectacular.”

True to The Ritz-Carlton’s legacy of exceptional hospitality, the Residences offer a refined collection of amenities and services curated to support comfort, connection and complete well-being. Managed by dedicated Ritz-Carlton staff, the experience begins with a dramatic bayfront pool deck featuring private cabanas, summer kitchens and poolside dining. Just beyond, a state-of-the-art fitness and wellness center offers the latest cardio and resistance training equipment, along with a world-class spa, private treatment rooms and his-and-hers steam and sauna facilities.

Residents will also enjoy an array of thoughtfully designed spaces for work, play and everyday living. Private conference and coworking areas offer seamless productivity. A dedicated children’s room and a gaming lounge with a cutting-edge golf simulator bring joy to all ages. Expansive outdoor terraces, multiple entertainment lounges and two fully appointed guest suites complete the amenity package, allowing for effortless hosting and leisure.

Throughout the property, a curated selection of museum-quality artwork from the Jorge M. Pérez Contemporary Art Collection enriches the residential experience. Residents also receive complimentary membership to the exclusive Cove Club, West Palm Beach’s premier waterside retreat offering dining, wellness and social programming.

Signature Ritz-Carlton concierge services complete the offering. From valet parking and 24-hour in-residence deliveries to personal arrangements for dining, travel, beauty and pet care, every detail is handled with warmth, discretion and precision.

Renderings via The Boundary

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Construction Begins on Ultra-Luxury Rivage Bal Harbour Condominium Development

Construction has officially begun on Rivage Bal Harbour, a new ultra-luxury condominium project located in one of South Florida’s most exclusive communities. The project is a collaboration between Related Group, Rockpoint, and Two Roads Development, with architecture by the renowned firm Skidmore, Owings & Merrill (SOM) and interiors designed by Rottet Studio.

Set between the Intracoastal Waterway and 200 feet of oceanfront, the development will offer 56 high-end residences, designed to blend modern luxury with South Florida’s natural beauty. The homes, referred to as “sky villas,” will range from 3,300 to nearly 13,000 square feet, providing features akin to a single-family home, including in-unit elevator access and private parking garages. Each residence will also have expansive terraces offering direct views of the ocean and Biscayne Bay.

The design incorporates open-concept floor plans, with custom kitchens featuring Sub-Zero and Wolf appliances and high-end Italian finishes in bathrooms and closets. The development aims to appeal to luxury buyers seeking an elevated living experience in Bal Harbour, a community known for its exclusivity and proximity to the Bal Harbour Shops.

Amenities at Rivage are extensive, with over 25,000 square feet dedicated to wellness and recreation. These include a fitness pavilion, hammam spa with hot/cold plunge pools, private treatment rooms, and outdoor pickle and paddle ball courts. For more relaxed pursuits, residents will have access to private dining services, a cocktail lounge, a VR game simulator, and a kids’ playroom. In addition, resort-style services such as a 24/7 residential butler and concierge will be available.

The project is expected to be completed in 2027, with construction managed by Coastal Construction Group. According to the development team, Rivage aims to offer an exclusive residential option in the supply-constrained Miami market, meeting growing demand for high-end properties in the region.

Douglas Elliman Development Marketing (DEDM) is handling the sales for Rivage Bal Harbour, which is positioned to attract buyers seeking luxury living in one of South Florida’s most sought-after locales.

“Bal Harbour is undeniably one of South Florida’s most iconic neighborhoods, and this property will raise its profile even higher,” said Jon Paul Pérez, Related’s President. “With a once-in-a-generation location, stunning design and five-star service, Rivage offers a rare opportunity for the world’s most elite buyers. We are proud to begin construction on a property that not only honors Bal Harbour’s glamorous history but also delivers an unparalleled living experience.”

Since its founding in 1929, Bal Harbour has been a favored destination for affluent residents and visitors, offering close proximity to Miami Beach’s cultural landmarks while maintaining a reputation for privacy and exclusivity.

Related Group and Tricap Break Ground On Hospitality-Infused Wynwood Condo 'NoMad Residences Wynwood'

Miami-based real estate developer Related Group (Related), together with Manhattan-based developer Tricap, has broken ground on NoMad Residences Wynwood, the first residential concept from the global hospitality icon, NoMad Hotels, and its parent company, Sydell Group. Located just steps from Miami’s world-famous Wynwood Walls, the nine-story condominium tower boasts an eclectic, modern design crafted by the world’s preeminent design talents with architecture by South Florida-based Arquitectonica and interiors by the renowned DesignAgency. With over 75% of its homes now in contract, NoMad Residences Wynwood is expected to reach completion in 2025. Pricing for NoMad Residences Wynwood begins in the $600,000s with Fortune Development Sales exclusively overseeing sales and marketing.

“No hospitality brand is better suited for Wynwood than The NoMad Hotels, a concept that pairs artistry with luxury to offer an inspired way of living,” said Nick Pérez, President of Related Group’s Condominium Division. “Much like how NoMad New York helped to transform Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, Related believes that the NoMad Residences Wynwood is poised to unveil the next chapter in Wynwood’s celebrated history.”

Designed to embody every luxury associated with the NoMad name, NoMad Residences, Wynwood brings the essence of a well-traveled, artfully-lived life to each home. The collection of 329 residences ranges from studios to two bedrooms, each featuring floor-to-ceiling windows, private balconies, open layouts and spa-like showers. Modern kitchens include premium Bosch appliances, Italian-style cabinetry adorned with brass hardware, and sleek stone countertops.

"The NoMad Hotels team has a reputation for crafting exemplary hotels featuring stand-out designs inspired by their surroundings,” said Andrew Zobler, Founder & CEO of Sydell Group. “We took the same approach with NoMad Residences Wynwood. We didn’t want to just create homes — we wanted to foster a sense of unity in a neighborhood known for its diverse, artistic energy.”

Each home comes fully furnished with packages curated by DesignAgency. Uniquely developed with no rental restrictions in mind, buyers will have the option to rent their homes to guests for any period of time, while a skilled in-house property management team will efficiently manage check-in and check-out processes.

Central to the property’s appeal are its world-class food and beverage offerings, which will be open to the public and include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, Vice President, Food & Beverage at Sydell Group, and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park. The property will also include an exceptional anchor destination on the ground floor, Casa Tua Cucina. A lighthouse brand that sets the standard for experiencing high-end social dining, ‘Cucina’ is an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare.

To enhance the hospitality-focused experience, residents and their guests can indulge in a full-suite of resort-style amenities, including an expansive rooftop lounge with panoramic views of downtown Miami, a fully-serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. The signature NoMad Library and Lounge, located on the ninth floor, will serve as a secondary resident hub, featuring NoMad-curated experiences and events, ample shared workspaces, and more.

Additional on-site highlights include a card room and private dining room. For art enthusiasts, many of the walls throughout the building will showcase museum-quality works from the Jorge M. Pérez Collection, with sections of the building commissioned to artists in ode to Wynwood. Surrounding the property is a vibrant, walkable community that boasts over 70 art galleries, luxury boutiques, seven MICHELIN-star and many five-star restaurants, and the world-famous Wynwood Walls.

“Wynwood isn’t just a neighborhood. It’s an ever-evolving hub of culture, cuisine and opportunity,” said David Edelstein, Principal at Tricap. “As a result of our collaboration with best-in-class partners, Related and Sydell Group, today’s groundbreaking marks the beginning of an immersive, hospitality-centric residential experience at the core of Miami’s famed art district.”

Recently, NoMad London, a flagship within the esteemed NoMad Hotels brand, secured a coveted spot on 'The World’s 50 Best Hotels’ list for 2023. This prestigious recognition reinforces Sydell Group’s commitment to upholding the highest standards in hospitality and design — a commitment that NoMad Residences Wynwood will reflect as it introduces the same level of exquisite craftsmanship to Miami's dynamic Wynwood neighborhood.

Images via NoMad Residences Wynwood

The St. Regis Residences, Miami 'Wow' With Curated Lifestyle Amenities

Private marinas, 24/7 concierges, unmatched waterfront views, and in-unit elevators – these are just some of the lifestyle offerings today’s evermore demanding buyers expect when shopping for a luxury condominium in South Florida. To stand out amongst increasingly over-the-top high-rises, developers of branded residential projects across booming Miami are going on the offensive, offering curated amenities that exceed even the loftiest expectations. 

“It’s all about surprising buyers – offering something they never knew they couldn’t live without,” says Jon Paul Perez, President of development powerhouse Related Group. “We’re always pushing the bar higher and working to outdo ourselves. Take golf simulators and VR amenities, for example. Not too long ago, these were an extra luxury reserved only for our most high-end projects. Now, these types of options are simply expected.”

Branded residential concepts, like Related’s and Integra Investment’s St. Regis Residences, Miami, are setting the pace for a new wave of condominiums vying for the spotlight in sunny South Florida. By partnering with beloved brands, Miami developers can curate their projects to match the passions of buyers and deliver entire turnkey lifestyles with exceptional, five-star service. Simply using a brand name isn’t quite enough, however. 

“We invested considerable time and resources into ensuring our amenities, signature butler services, and rituals live up to the rich history of the St. Regis name,” says Nelson Stabile, principal and co-founder of Integra and co-developer of The St. Regis Residences, Miami. “Many of our buyers are loyal to the St. Regis brand and want to immerse themselves in the iconic brand full-time. As such, every lifestyle feature and service offering in The Residences is hand-curated to exude that unique St. Regis spirit.”

Located in the heart of the Brickell neighborhood and situated on an exclusive waterfront site, while offering glimmering views of Biscayne Bay, The Residences come brimming with lifestyle touches, including over 60,000-square-feet of hand-selected amenities. Among the many standouts is the elevated waterfront pool deck, designed to evoke the prestigious roots of the St. Regis brand. The expansive terrace features a saltwater swimming pool and poolside cabanas overlooking turquoise waters, as well as a poolside café and bar, a whirlpool, and luscious gardens with ample seating for residents to admire the greenery – all complemented by breathtaking bay views and serene sounds of the water.

The property’s state-of-the-art fitness center includes the latest in cardio, strength training, yoga and meditation equipment curated by The Wright Fit. The on-site spa continues the dreamy experience, and showcases the resort-inspired lifestyle, with comprehensive facilities – including an indoor lap pool, cold plunge pool, salt spa room, dual saunas, and state-of-the-art treatment rooms. 

Additional highlights include a St. Regis signature tearoom, where residents can enjoy the brand’s historic afternoon tea service, a fine-dining restaurant helmed by James Beard Award-winning Chef Fabio Trabocchi, a private marina, programmable golf simulator, and a 31st-floor sky lounge with 360-degree views of the Magic City.

Owners will also enjoy a world-class portfolio of services, including a 24-hour St. Regis-trained butler dedicated to fulfilling owners’ personal requests. Whether arranging personal appointments, coordinating travel and transit, or hosting an event in one of the signature St. Regis spaces, like the tearoom or cognac room, the aim is to keep residents at ease. 

And while developers of The Residences place a heavy emphasis on amenities, the 342 residences were no afterthoughts. The units come in varied floor plans, including penthouses and sky villas, and range from one to seven bedrooms. The open-concept layouts come standard with custom European marble flooring, Wolf appliances, custom Italian cabinetry, Dornbracht fixtures, and full-height wine refrigerators. Units start at $1.5 million. 

For more information about the property, please visit: St. Regis Residences Miami | New Luxury Condos for Sale South Brickell (miamisrr.com)

This article was produced in partnership with Related Group

The St. Regis Residences, Miami are not owned, developed or sold by Marriott International, Inc. or its affiliates (“Marriott”). 1809 Brickell Venture, LLC uses the St. Regis marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made about the project.

Baccarat Residences Miami Crystalizes True Potential of Brickell Skyline

Miami's Brickell neighborhood, dubbed in the early 1900s as Miami’s Millionaire’s Row, evolved to become a banking center headquarters in the 1980s and has transformed once again into an effervescent hub of luxury shopping, culinary excellence and opulent living. Now known as the “Manhattan of the South,” Brickell is both the city’s most exciting community and a premier hub for international finance in the United States.

This transformation happened in a matter of years, with an overall population growth of over 50% since 2000. While many point to the pandemic-era migration as the main catalyst for this rapid growth, the entrance of world-class lifestyle destinations, such as Brickell City Centre, and an influx of exclusive luxury properties such as Baccarat Residences Miami, have steadily positioned the neighborhood as one of the most desirable in all of South Florida. 

In addition to ample lifestyle options, the area’s density and proximity to public transit have also made it one of the state’s most walkable communities, with easy access to the Metromover, the newly inaugurated Underline, and a network of pedestrian and cycling paths. This has led to the area being recognized as the best place to live in Miami for the second year straight. 

The transformation of Brickell has made national headlines, with leading publications like Forbes and the Wall Street Journal reporting on the unprecedented residential demand. At the same time, social channels are flooded with images of residents and visitors alike who have become a grassroots marketing force for the community.  

“Brickell residents live surrounded by striking art, a diverse array of world-class dining experiences, and Florida’s finest retail shopping,” said Jon Paul Pérez, President of leading developer Related Group. “It’s proof that neighborhoods really can change from being purely office-driven to true live-work-play communities.” 

Brickell’s momentum shows no signs of slowing. Transplants continue to arrive from around the world driving residential demand to an all-time high. Data from the Miami Association of Realtors and the National Association of Realtors reveals that, from August 2020 to July 2021, foreign buyers purchased $5.1 billion worth of residential properties in South Florida. 

Developers are meeting this increased demand with several new marquee projects such as the ultraluxe Baccarat Residences Miami. The result of a partnership with legendary French crystal maker Baccarat, the renowned Related Group and visionary SH Hotels & Resorts, the 75-story high-rise will sit at the gateway to Brickell, on one of the last remaining waterfront sites where the Miami River meets Biscayne Bay. 

“Our buyers are more discerning than ever,” added Pérez. “With this in mind, we’ve taken out all of the stops and really focused on making Baccarat Residences Miami, and our new generation of condominiums, the most luxurious we’ve ever built.” 

Crafted by the world’s preeminent architects and designers – including Arquitectonica, Meyer Davis and Enzo Enea – the property will feature 318 tower residences, eight penthouses and an exclusive selection of 28 riverfront flats and duplexes. All homes offer spectacular views and expansive interiors expertly crafted to feel luxurious yet supremely comfortable. Residents will enjoy a host of five-star amenities throughout five levels of the tower expertly managed by SH Hotels & Resorts, and brilliantly executed to include stunning social areas and clubrooms, wine cellar, screening room, billiards, Anatomy fitness center, La Mer hammam spa, elevated pool deck and pool side café, riverside restaurant, residents’ yacht, and the 39th level Baccarat Lounge. The on-site property offerings are complemented with the Beach Club membership to the 1 Hotel South Beach, SH Hotels & Resorts sister property.   

“Our entire team, and family, couldn't be more pleased with the way this neighborhood has evolved,” said Pérez. “The best part is it’s still just beginning. When these projects are all done and people are living here full-time, we’ll see Brickell’s personality continue to grow and evolve. It’s incredibly exciting.” 

For more information about the property, please visit: www.BaccaratResidencesMiami.com.

At The Heart Of It All. Downtown Miami's Metamorphosis Into Global Hub Accelerates

Today, Miami’s Downtown neighborhood may be one of the world’s great cosmopolitan centers, but even just a few years ago, the area was a ghost town by nightfall. According to Sonia Figueroa, Senior VP for development powerhouse Related Group, “Offices would close, and a mass exodus would begin, with thousands commuting to residential areas like Coral Gables or Brickell. By 5 o’clock the streets would be totally deserted. It’s incredible to see how things have changed.” 

This transformation has been years in the making, requiring significant investments across countless sectors. “There wasn’t a single catalyst,” adds Figueroa. “It was many different things coming together that really drove the change. The opening of the Brightline’s MiamiCentral Station, the progress on Miami Worldcenter and, of course, the huge influx of corporations and new residents from across the country, all became a kind of perfect storm.” 

The data backs up the idea of a seemingly overnight transformation, with a recent report from Miami DDA showing a 40 percent surge in population in the downtown area since 2010 – and a 56 percent increase since 2000. 

Often the best-attuned to neighborhood trends, Miami’s developers were among the first to recognize just how quickly the area was changing. And the residential demand that would soon come.  

According to Figueroa, “Downtown Miami always had incredible potential. It’s right by the bay, it’s seconds from our best museums, our stadium, transportation options – everything. The only thing missing was residential product that could live up to those kinds of surroundings.” 

Where old, dilapidated buildings once stood, now live dozens of sleek condominiums, trendy restaurants and bars and an ample selection of retail boutiques. In fact, rental inventory in Downtown Miami has more than doubled since 2012. More than 5,900 apartments have been completed in the last two years, and another 5,900 units are under construction. 

Developers like Related Group are betting big on the future of the so-called “New Downtown.” In 2021 alone, the company announced plans for three luxury condo towers in the neighborhood, including District 225 and The Crosby – two short-term-rental-ready projects – and Casa Bella Residences by B&B Italia, a project Related believes will speak to Miami’s growing numbers of high-design aficionados. 

Built in partnership with Alta Developers, the 55-story condo looks to take a significantly more upscale approach than its neighbors, especially when it comes to its interior and exterior designs. The property is the first residential partnership for famed Italian design house B&B Italia, known around the world for its high-end collaborations with brands like Rolex, Hermès, and Rolls-Royce.  

The project’s approach to amenities is another indicator of its high-end focus. “We wanted to offer something for every lifestyle,” says Figueroa, lead developer on the project. “Entertainers will have many indoor and outdoor lounges at their disposal. Fitness and wellness enthusiasts will be able to enjoy a world-class fitness center and spa. As for those residents who love to soak up the sun, the renowned landscape designer Enzo Enea created a breathtaking pool deck complete with private cabanas and a poolside bar.”  

During the project’s launch in late 2021, Related President Jon Paul Pérez said, "We are in the middle of one of the most robust markets in Related’s history, a trend we expect will pick up further with the launch of Casa Bella.” And indeed, it did. Just weeks after launch, Casa Bella has already accumulated over $100 million in reservations. 

While still early on in its reimagining, the overwhelming demand for residential units in Downtown Miami has made one thing clear: the neighborhood is ready for its moment in the sun. 

Units at Casa Bella by B&B Italia range from $650,000 to $3.7 million for non-penthouse floorplans. For more information or to arrange a tour of the sales gallery, please visit CasaBellaResidences.com or call 305-290-1008.

This article was produced in partnership with Related Group

The Last Development Parcel on The Ultra-Luxury Fisher Island Under Contract to Related Group, Teddy Sagi and BH Group Joint Venture

A joint venture between real estate leaders Related Group, Teddy Sagi and BH Group are under contract on Parcel 7, the last available development parcel in Miami Beach’s historic Fisher Island. The partnership plans to develop an ultra-luxury boutique condominium in what has come to be known as America’s wealthiest zip code. The purchase price was not disclosed.

“We couldn’t be more excited to finally have the opportunity to develop on the island,” said Jon Paul Pérez, Related President. “Fisher Island has such a rich history and unmatched level of privacy; there’s really nothing else like it in Miami or the country. We look forward to delivering a product that pushes the bar even higher for this incredible neighborhood.”

This is the third acquisition for the Related, Teddy Sagi and BH joint venture, closely following high-profile purchases in West Palm and the City of North Miami. The two powerhouse firms continue to aggressively pursue additional joint opportunities throughout South Florida.

BH Group, the Miami-based private investment and real estate company, works in partnership with Globe Invest, a leading real estate investment manager in UK & Europe owned by acclaimed entrepreneur Teddy Sagi.

“We are only interested in the most marquee locations in Miami, and it is impossible to find anything better than Fisher Island,” said Teddy Sagi. “Despite the increasing levels of demand for top-tier parcels, we are bullish on the long-term potential of Florida. There is plenty of runway in this market.”

The 216-acre fisher island is located right off the coast of Miami Beach and is only accessible via ferry or watercraft. It has long been known as one of the country’s most exclusive communities, featuring a private golf course and beach, as well as a variety of lavish amenities, from butler service to a resident’s only restaurant. The man-made island has been home to many of Miami’s most iconic figures, including the heir to railroad fortune William K. Vanderbilt. It has also been home to some of the region’s most high-profile real estate listings.

Joint Venture Led By Related Group Reveals The Dorsey In Wynwood Designed By Arquitectonica

A joint venture between Jorge Perez’s Related Group, Alex Karakhanian, and Tricera Capital, led by Scott Sherman, have revealed plans for The Dorsey in Wynwood. The Dorsey is being designed by Arquitectonica and when complete will rise 12-stories and will feature 306 apartments, 35,858 SF of retail space and 58,760 SF of office space. The Dorsey will be built at the site of the former Coca Cola plant and was previously owned by Thor Equities and Rockwood Capital who had proposed a Touzet Studio-designed project. The JV, which purchased the 2-acre site in late 2019 for $32 million, has obtained a permit to demolish the existing buildings on the site, some of which were originally built in the late 1920’s. Miami’s Urban Development Review Board will review the proposal on December 18. The Dorsey will be located at 280 NW 28th Street.