The Ritz-Carlton Residences South Beach: Luxury in the Heart of Miami Beach
February 28, 2025
Sales have officially launched for The Ritz-Carlton Residences, South Beach, a luxury 15-story tower set to rise behind the iconic Sagamore Hotel. Developed by Flag Luxury Group and Sobe Sky Development, this exclusive project will feature only 30 residences, starting at $4.25 million. Furthermore, two grand penthouses could reach a combined sale price of $125 million.
Unparalleled Luxury in Miami Beach
Designed by Kobi Karp Architecture, these residences offer one- to five-bedroom layouts, with sizes reaching 8,104 square feet. Floor-to-ceiling windows, wrap-around terraces, and private elevators in select units create an elegant living experience. Additionally, interiors, crafted by Alessandro Munge of Studio Munge, combine luxury with refined design.
At the top, two duplex penthouses will feature private rooftop terraces, outdoor pools, and summer kitchens. Most importantly, amenities include a Technogym fitness center, personal treatment rooms, a sculpture garden, an entertainment lounge, and a rooftop pool with private cabanas.
Residents will also enjoy privileged access to The Ritz-Carlton South Beach and the Sagamore Hotel, which is undergoing renovations. Moreover, services include concierge beach service, pet care, and Michelin-starred dining by José Andrés. Homeowners will benefit from Marriott International’s exclusive luxury membership perks.
The Evolution of “Billionaire’s Beach”
Fredrik Eklund, co-founder of The Eklund Gomes Team at Douglas Elliman Development Marketing, highlights the demand for Miami’s top-tier properties:
“Billionaire’s Beach is at the forefront of Miami’s real estate boom. Buyers seek prestige, impeccable design, and a rare investment opportunity. The Ritz-Carlton Residences, South Beach, delivers all of that.”
This development is part of Miami Beach’s transformation, particularly around 100 Lincoln Road. The Sagamore Hotel, built in 1948, and The Ritz-Carlton South Beach, completed in 1953, are being restored. In addition, the city and developers are improving beach walk access, landscaping, and an art walk, reinforcing the neighborhood’s status as a luxury hotspot.
A Shifting Market Landscape
While South Florida’s ultra-luxury market remains strong, real estate trends are changing. For example, there are fewer cash buyers, an increase in housing supply, and a $2 billion drop in foreign investment in 2024. These shifts indicate changes in buyer behavior.
Despite these trends, The Ritz-Carlton Residences, South Beach, is expected to attract elite buyers looking for oceanfront exclusivity. Furthermore, completion is scheduled for 2027, with pre-sales funding part of the construction.
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