Swire Properties has announced a monumental achievement with the sale of two ultra-luxury penthouses at The Residences at Mandarin Oriental, Miami. These record-setting transactions, totaling nearly $100 million, underscore the robust demand for high-end real estate in Miami and solidify the project’s status as a premier global destination.
Key Takeaways
- Two penthouses sold for $49.9 million each, totaling nearly $100 million.
- These sales represent the highest-priced condominium transactions in mainland Miami history.
- The Residences at Mandarin Oriental, Miami has now surpassed $1.3 billion in total sales.
- Groundbreaking for the development is anticipated in late 2026.
A New Benchmark in Luxury Living
The sale of the two penthouses, each fetching $49.9 million, marks a significant milestone for Swire Properties and the Miami real estate market. The combined $100 million in sales, averaging approximately $6,300 per square foot, sets a new record for condominium transactions in mainland Miami. This achievement highlights the enduring confidence in Swire Properties’ developments and the unparalleled allure of the Mandarin Oriental brand.
Unmatched Opulence on Brickell Key
Located on the exclusive Brickell Key, the two-story penthouses are situated atop the development’s 66-story South Tower. Each residence spans nearly 8,000 square feet of interior space and offers the privacy of a standalone estate combined with resort-style living. Features include expansive rooftop terraces with private lap pools, built-in bars, and breathtaking panoramic views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. Each penthouse boasts five bedrooms, seven bathrooms, three powder rooms, and a library, with private elevators opening into grand entry foyers.
Sustained Demand for Ultra-Luxury
These record-setting sales prior to groundbreaking are a testament to the project’s exceptional appeal. Edgardo Defortuna, President and CEO of Fortune International Group, noted the strong global demand for branded residences and the momentum generated by this landmark project. The transactions also reflect a broader trend of affluent buyers gravitating towards Miami and South Florida, particularly those relocating from high-tax states.
Visionary Design and World-Class Amenities
Designed by the renowned architecture firm Kohn Pedersen Fox (KPF), The Residences at Mandarin Oriental, Miami comprises two distinct towers. The South Tower features 228 private residences, while the North Tower includes 70 private residences, 28 Hotel Collection residences, and 121 hotel guest rooms. The interiors are envisioned by acclaimed designers Tristan Auer and Laura Gonzalez, each bringing a unique yet cohesive aesthetic. Residents will have access to an extensive 100,000-square-foot amenity podium, featuring multiple resort-style pools, fitness centers, wellness cabanas, dining pavilions, and access to the Mandarin Oriental’s signature spa.