Swire Properties Inc.’s latest ambitious venture includes a $100 million penthouse listing atop a 66-story tower on Brickell Key island. The luxurious listing has prompted fierce competition among developers in the quest to claim the title of Miami’s most opulent condominium. The stunning penthouse, an integral part of Swire’s grand vision for Brickell Key, represents a rare and exclusive opportunity for affluent prospects seeking to own a prestigious piece of Miami real estate.
Henry Bott, President of Swire, characterizes the penthouse as the “crown jewel” of Brickell Key, embodying the company’s resolute island development that has spanned four decades. Despite Brickell Key’s serene reputation as a haven for joggers and dog walkers, the island is on the brink of heightened elevation. Its recent listings are set to captivate a new wave of ultra-wealthy residents enticed by its prime location adjacent to Miami’s active and fruitful financial district.
Swire’s investment in Brickell Key surpasses $1 billion, as evidenced by the creation of two Mandarin Oriental-branded towers. The flagship tower, crowned by the lavish 23,000-square-foot duplex penthouse, promises next-level luxury, complete with amenities like a private infinity pool and a dedicated elevator lobby. Units in the development start at around a whopping $4.9 million, catering to discerning wealthy buyers expected to take occupancy by 2029.
The enchanting allure of Brickell Key is further accentuated by Miami’s evolving financial arena, which has cemented the district as a magnet for high-profile corporations and their handsomely compensated employees. The influx of affluent professionals from major cities such as New York and Chicago has fueled Brickell’s metamorphosis into a bustling urban center, prompting developers to eagerly capitalize on the escalating demand for premium real estate.
Across Miami, developers are unveiling multimillion-dollar condominium projects intently crafted for affluent clientele accustomed to the lavish lifestyle synonymous with Manhattan and California. The Ritz-Carlton-branded condos in South Beach don a staggering $125 million penthouse, while the Shore Club Private Collection presents a penthouse with a private rooftop pool under contract for over $120 million. On Fisher Island, the Related Group has brokered deals for two penthouses totaling more than $150 million, signaling the rising demand for luxury properties.
Swire’s endeavors face stiff competition from the Four Seasons residential tower in Coconut Grove, where developer Nadim Ashi anticipates securing contracts for units priced as high as $120 million. The appeal of Miami’s luxury real estate market extends to international and stateside buyers, with the majority of purchasers coming from within the US and predominantly from the finance sector.
Contemplating Miami’s lucrative real estate evolution, Ugo Colombo, CEO of CMC Group, acknowledges the city’s growing status as a premier luxury destination, a status that was particularly boosted by the society-shifting COVID-19 pandemic. As developers vie for the patronage of affluent buyers, Miami’s skyline remains a hot spot ripe for further elevation, offering enticing and distinct prospects for those desiring the pinnacle of luxury living.
Swire Properties Inc.’s recent bold venture is a notable moment in the annals of Brickell Key’s history, ushering in enhanced luxury living that compels the world’s elite. Each shimmering skyscraper solidifies Miami’s reputation as a global hub of sophistication, grandeur, and wealth.
