(Bloomberg) — A roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, a 17-story condo tower designed by Peter Marino in Miami’s South Beach, could soon be the most expensive in Miami Beach’s history. It’s priced at “over $150 million,” according to project developer Michael Shvo. It is expected to be completed by 2026.
The new condo tower will be part of a three-acre hotel, restaurant and luxury campus filled with amenities on 18th Street and Collins Avenue. It will be located in a compound whose best-known building, the art deco Raleigh Hotel, has been a Miami Beach landmark since it was built in the 1940s. The hotels and residences will be operated by the luxury Rosewood Hotels & Resorts brand.
“If I told you that at 220 Central Park South they’re selling a unit at $13,000 a square foot, or at the Aman New York that we sold units at that price, nobody [would think] that was outrageous,” Shvo says in his Manhattan conference room. “We are by far the premier product building, not only in Miami Beach but in the country. And there’s no reason that people will pay less to