Related, Two Roads Launch Bal Harbour Condo Tower With $65M Penthouse
Related Group is charging ahead with another uber-luxury waterfront condominium development in Miami.
Related, along with development partners Two Roads Development and Rockpoint Group, launched sales Wednesday on Rivage in Bal Harbour, a 24-story, 61-unit condo building, the developers announced. The project will stand 270 feet with asking prices starting at $8M and rising to nearly $65M for the penthouse unit.
The developers bought out the owners at the Carlton Terrace condominium on the site, 10245 Collins Ave., in 2021 for roughly $130M and secured approval for the development last year, The Real Deal reported. Demolition on that building is expected to begin within months, and the developers hope to break ground by the end of 2023.
“Bal Harbour is one of South Florida’s most special neighborhoods and an area we’ve wanted to build in for many years,” Related Group President Jon Paul Pérez said in a statement.
It is set up to be the first new condo project since 2016 in the tony enclave just north of Surfside. Skidmore, Owings & Merrill has been enlisted as the architect, along with Rottet Studio as the interior designer. A Douglas Elliman team led by Pablo Alfaro will be marketing the units, which the developers have dubbed “sky villas.”
The property has the natural amenity of 200 feet of ocean frontage, to which Related and Two Roads are adding 25K SF of amenity space, including pickleball and paddleball courts, hot and cold plunge pools, a virtual reality game room and 24/7 butler service.
Related Group is aggressively adding to its luxury condo development pipeline. It is also starting development on its Six Fisher Island building, where asking prices range from $30M to $60M, and the St. Regis Residences in Brickell with Integra Investments.