Home / Business and Economy / Miami Luxury Condos Fetch $100M!
Miami Luxury Condos Fetch $100M!
18 Mar
Summary
- Two separate buyers secured units at $50 million each.
- Each 8,000 sq ft unit features five bedrooms and ocean views.
- The building is part of a new hotel and condo project set for 2030 completion.
Two buyers have each contracted for ultra-luxury condominium units at the Residences at Mandarin Oriental, Miami, with individual prices set at $50 million. Initially offered as a single $100 million residence or separately, these deals finalized within weeks of sales launching in 2024.
Each residence spans approximately 8,000 square feet and features five bedrooms, two kitchens, and a library. Located on the 66th floor, they offer panoramic ocean views, expansive terraces, and private outdoor lap pools.
The new Mandarin Oriental hotel and condo project, replacing the old hotel, is scheduled for completion in 2030. The development includes two towers with about 300 condos and 11 pools.
Sales for the south tower have exceeded $1.3 billion, with over 50% of its condos already under contract. This surge in demand is fueled by wealthy individuals relocating to Florida, a trend accelerated by post-Covid luxury housing market growth.
