The Ritz-Carlton Residences, South Beach: A Luxury Haven Set to Redefine Miami’s Skyline

A luxurious new residential tower is on the horizon for South Beach, and it bears the unmistakable mark of Ritz-Carlton’s refined elegance.

The upcoming development, known as The Ritz-Carlton Residences, South Beach, is a collaborative effort between Lionstone Development, the Ben-Josef Group, and Dayssi Olarte de Kanavos’s Flag Luxury Group. According to reports from Bloomberg, this 15-story condo will offer an exclusive collection of 30 custom-designed homes, including two lavish duplex penthouses. Prices for these private residences will start at $3.9 million, reaching a staggering $125 million for a potential combination of the two penthouses.

Scheduled for completion in April 2027, the forthcoming condo complex will boast a range of amenities for residents and select offerings accessible to the public. These amenities include a swimming pool, a restaurant led by a Michelin-starred chef, a luxurious spa, and an oceanfront beach club. Each home will feature private elevators and expansive wrap-around terraces, providing breathtaking panoramic views of Miami Beach.

This residential project is part of a more significant endeavor that includes the renovation of the existing Ritz-Carlton, South Beach, and the adjacent Sagamore Hotel. The historic Sagamore Hotel is set to reopen as a Ritz-Carlton hotel, further enhancing the area’s allure. Dayssi Olarte de Kanavos emphasized the evolving nature of Miami’s economy, stating, “Miami is not just a tourist economy anymore. We now have many hedge fund, venture capital, and real estate workers living here.”

The influx of high-earning individuals to South Florida has sparked a real estate boom, with notable figures like Jeff Bezos and Ken Griffin making high-profile moves to the region. As residents continue to migrate to South Florida, the demand for luxury properties has surged, leading to a rise in prices. Fredrik Eklund, broker and former star of Million Dollar Listing, noted the scarcity of inventory and the increasing competition for coveted properties in Miami. With home prices in Miami up 12 percent from a year ago, the city is poised for further growth and transformation.

As The Ritz-Carlton Residences, South Beach takes shape, it epitomizes luxury living in one of Miami’s most prestigious neighborhoods.