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April 15, 2024

Image from SHVO, Lipman Studio, The Boundary

Raleigh Condo Tower in Miami will have a $150M penthouse

By Arushi Sakhuja

If you thought the world of luxury real estate had peaked, think again. Because the beach-facing city of Miami is getting a new penthouse priced at a whopping $150 million. The penthouse will be part of the new Raleigh Condo Tower in Miami’s South Beach district. Designed by Peter Marino, the building could set price records. The 17-story condo tower could soon be the most expensive in Miami Beach’s history.

According to project developer Michael Shvo reports, a roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, could cost over $150 million and the project is expected to be completed by 2026. In addition, a total of 40 condos are planned in the 13-story tower, with prices starting at $10 million. This architectural masterpiece promises to elevate the city’s skyline and set a new standard for opulence.

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.

Image from SHVO, Lipman Studio, The Boundary

Photo Courtesy: SHVO, Lipman Studio, The Boundary

It was in 2019 when developer Michael Shvo, in collaboration with Deutsche Finance Group, acquired Miami’s iconic Raleigh Hotel from a group led by designer Tommy Hilfiger. Following a call from the Miami Beach mayor urging the preservation of the Raleigh as a hotel, Shvo strategically purchased adjacent properties, the Richmond Hotel and the South Seas Hotel, for $243 million. The vision: a master development blending hotels and condominiums on the three-acre site.

It was the design maverick and architect Peter Marino who restored and renovated the original buildings, reducing the number of hotel rooms on the property from 320 suites to 60 suites. The hyper-luxury condominium building will sit just 100 feet from the water with unobstructed views, making it highly sought after. Marino’s design is all about a classic aesthetic of white exteriors and thin black lines. In contrast to prevalent nautical-themed Miami architecture, Marino aims for quiet elegance and an art deco charm.

However, the highlight of the Raleigh Condo Tower is a penthouse covering the entire top floor and roof. Its expansive outdoor space includes a private pool, outdoor kitchen, and rooftop garden. Four additional penthouses which have four to seven bedrooms. The estate boasts five pools, including those for residents and a private pool at the Raleigh Beach Club.

Apartments feature 10- to 14-foot ceilings, with Marino’s signature design showcasing neutral palettes inspired by beach colours. The Raleigh aims to set a new standard for elevated living in Florida, offering residents unparalleled luxury and experiences.

Zara Flavia Dmello


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