In an extraordinary display of luxury and opulence, Fort Partners has set a new benchmark in Miami real estate. The recent sale of the penthouse at their oceanfront Seaway Condos & Villas at The Surf Club sold for a staggering $86 million. This not only captures the epitome of luxury living, but also marks the highest price ever paid for a condo in the area. Let’s explore the details of this remarkable transaction and its significance for the Miami luxury real estate market.
A Record-Breaking Sale
This record-breaking sale was facilitated by Fort Partners’ affiliate, SCR Residences LLC, to Surfclub 11 LLC, a Delaware entity. Perched at 9149 Collins Avenue in Surfside, the penthouse spans an impressive 16,053 square feet. Selling for $5,358 per square foot, this transaction eclipses the previous record held by Fort’s adjacent condo, the Four Seasons Private Residences at The Surf Club, where an oceanfront penthouse sold for $44 million last year.
The Surge in Luxury Condo Demand
The sale of this penthouse highlights the ongoing wealth migration into Miami, drawing billionaires and multimillionaires to its shores. This trend has fueled a surge in demand for high-end luxury real estate, particularly in oceanfront locations. Fort Partners’ visionary development, completed last year with contributions from architect Joseph Dirand and landscape designer Peter Wirtz, offers residents unparalleled amenities, including access to The Surf Club’s private club, multiple pools, and The Surf Club Restaurant, a Thomas Keller culinary delight.
For those keeping an eye on what’s next at The Surf Club, the villas at Seaway Condos & Villas are moving steadily through construction, anticipating closings to commence this winter. With just one residence per floor and only a single home still available, Seaway is one of the most limited, and most talked-about offerings in Surfside.
On the south side of The Surf Club development, Surf House at The Surf Club has kicked off its early construction phases as well. It’s another thoughtfully curated Fort Partners project, and definitely one to watch if you’re looking for ultra-boutique, oceanfront living with direct access to the legendary Surf Club experience.
Notable Buyers at Seaway
Seaway has attracted a range of high-profile buyers since its completion. Philanthropists Jeff and Shari Aronson acquired a unit for $12.3 million, while David Foley, a senior managing director at Blackstone, invested $24.5 million in a condo. The financier Bippy Siegal and his wife Jacqueline Siegal purchased three units for $18.5 million. Additionally, an entity linked to health care mogul Frederick Howe bought two units for a combined $31.1 million. This influx of esteemed residents underscores the desirability of the Surfside condos in this lavish development.
Future Prospects and Upcoming Developments
While Fort Partners currently holds the title for the most expensive condo sale, this record may soon be surpassed. A penthouse at the upcoming Auberge-branded The Shore Club Private Collection in Miami Beach reportedly went into contract for $120 million. If completed by its projected 2026 date, this sale could set a new record for both condo and residential sales in Miami-Dade County.
The penthouse at Rosewood Residences Miami Beach is believed to be the last available property of this caliber currently not under contract at this time. Public reporting noted that it’s 13,000 interior square feet, full floor plus private rooftop residence was priced over $150 million. The project is anticipated to restart sales now that Nehal Capital has taken the helm of this outstanding project.
If direct ocean access is not a must have and drop dead gorgeous views is, at Five Park Miami Beach, their crown jewel penthouse remains available. A rare chance to own the top of one of Miami Beach’s most architecturally significant and only new tower completed in more than a decade. With unobstructed panoramic views stretching across Biscayne Bay, South of Fifth, and the Atlantic, this residence is truly in a class of its own.
For those tracking these trophy-level residences or wanting to stay ahead of the newest developments in Miami’s pre-construction market you can explore more about Miami Beach pre-construction opportunities.
Discover the Miami Lifestyle
Miami’s luxury real estate market continues to thrive, offering an eclectic mix of stunning properties and a vibrant lifestyle. From exclusive country clubs to world-renowned dining experiences, residents can truly live like a local in this dynamic city. For more on how to enjoy life in Miami, visit our page on living like a local.
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If you’re ready to explore the luxurious lifestyle Miami offers or are interested in learning more about the Miami luxury real estate market, contact The Meridian Advisors. With our expertise and personalized service, we can guide you through the vast array of options available in this thriving city.