Penthouse Perfection: The Mega-Penthouse at Rivage Residences, a Trophy Asset for the Ultra-Wealthy
Luxurious "Sky Palace" Unveiled: Exploring Florida's $150M Mega-Penthouse Aimed at U.S. High-Net-Worth Individuals
Real estate powerhouses Related Group and Douglas Elliman team up to offer an unprecedented opportunity in Miami's ever-evolving real estate market - a one-of-a-kind, oceanside penthouse combination.
Jon Paul Perez, CEO of Related Group,describes this exclusive offer as a "once-in-a-lifetime" opportunity in an iconic location that's the "French Riviera of the States." He highlights the unique demand for expansive units and believes the penthouse, listed at $150 million, will never be recreated.
Douglas Elliman CEO Jay Parker echoes Perez's sentiments, emphasizing the penthouse's desirable location, size, uniqueness, and luxurious amenities. The Rivage mega-penthouse spans 20,000 square feet indoors and 10,000 square feet outdoors, boasting eight bedrooms, ten bathrooms, and endless possibilities for customization due to the building's recent construction.
The listing comes at a time when attention has been drawn to the "billionaire bunkers" of Indian Creek Village, north of Miami Beach, known for hosting prominent public figures such as Jeff Bezos, Tom Brady, and Carl Icahn. The penthouse's potential buyers are expected to be among this elite group, making it a prime trophy asset for international clients or a primary residence for America's wealthiest residents.
Perez suggests that while the location of the buyers might be 50-50 domestic or international, more domestic buyers are seen at these price points. The penthouse was conceived to meet the growing demand for wealth migration to Florida, with tens of billions of dollars in income moving to the state in recent years.
South Florida's combination of economic stability, cultural attractions, proximity to Latin America, and real estate opportunities makes it an attractive destination for wealth migrants. The evolution of the two penthouses into one is in line with the organic growth seen in many South Florida projects due to the global migration of ultra-high net-worth individuals.
Despite attracting several interested buyers, a deal for the penthouse is not expected until the end of 2025. Despite being the last units to sell historically, demand and wealth migration patterns indicate that prospective buyers understand the importance of this opportunity and may consider it earlier in the process as the market aligns with this extraordinary offering.
Perez and Parker believe there will be more properties like this in the future, but their rarity makes them valuable and exciting opportunities for developers and buyers alike. They also acknowledge themselves as instrumental in shaping this remarkable evolution in South Florida's real estate market.
- This mega-penthouse at Rivage Residences, with its lavish amenities and prime location, represents a significant investment opportunity in the realm of real estate.
- The listing price of $150 million for the combined oceanside penthouses underscores their status as an invaluable asset in the wealth management portfolios of the ultra-rich.
- As more ultra-high net-worth individuals migrate to South Florida for its economic stability, cultural attractions, and real estate opportunities, such trophy real estate assets, like the Rivage mega-penthouse, will continue to attract finance and investing interest in the future.
