Sunny Isles Beach is known for high quality luxury properties of all types, with some of the biggest and most impressive towers being Residences by Armani/Casa and Porsche Design Tower. Now, another luxury tower will call the area home – Ritz-Carlton Residences (Click Here to view Ritz Carlton Sunny Isles project). This is already causing some excitement among investors and homebuyers.
What Makes the Tower Special?
The project is a joint venture with Chateau Group and Fortune International Group, and the preconstruction phase is already underway. The proposed tower, which will be at 15701 Collins Avenue, will be 52 stories and right on the oceanfront. The goal is to create a beautiful condominium complex that has all of the services of a luxury hotel and resort to make the lives of the residents easier.
One of the things that help to give the tower more personality and to gain some traction in the area is the brand name that comes along with it. Ritz-Carlton is a quality brand name that provides buyers the services that they want. Most buyers want more than just a great unit. They also want excellent features and services, onsite food and beverages, a spa, and more. That’s just the sort of thing that the Ritz-Carlton Residences will be able to offer.
Those who are interested in buying a unit will follow the same type of buyer-deposit model that’s in use with so many of the other large properties in the Miami-Dade area. The buyers will need to put down a 25% deposit on the property, and then an additional 15% when the groundbreaking occurs. Several months later, they will need to add an additional 10% to the deposit. They will pay the remaining 50% at the time of closing.
The firm Arquitectonica, based out of Miami, is the designer for the property. The actual designer will be Michele Bonan from Florence, Italy. To get an idea of the style and quality, look at some of the other properties developed by Bonan – Cipriani and Casa Tua.
The tower will sit on 2.2 acres, and it will include 250 feet of beachfront property. Since so many who are buying in the Miami area will want to be right on the beach, this should be a huge selling point. Prices for the units vary considerably, with most ranging from $2 million to $5.2 million. Of course, the penthouses cost substantially more and will sell in the $25 million range.
This is the first joint project between the two developers working on the tower. However, they have worked together in other capacities in the past. They feel that by working together now, they will be able to create a truly remarkable condo tower that is able to offer something different and something more than all of the other towers in the area. They want to provide their residents with the best possible service and features, knowing that it will help to improve their overall sales. Already, many potential buyers are feeling the excitement that these new units can offer. The Ritz-Carlton Residences could become one of the hottest properties in the area.