Miami Beach has a new record for the most expensive condominium ever sold in South Florida. The Shore Club Residences at 1901 Collins Avenue on Miami Beach has just 49 residences and the crown jewel has gone into contract, with a price of $120 million.
The expansive oceanfront penthouse spans 10,500 interior square feet with over 7,500 square feet of terraces that include a private rooftop pool.
Ken Griffin previously held the record for the most expensive Miami condominium purchase when he bought two penthouses at Faena House for $60 million in 2015. He also held the record of the most expensive residential real estate purchase with his 2021 purchase of Adrienne Arscht’s $107 million Coconut Grove compound. The unnamed buyer of the Shore Club Private Residences’ Penthouse that broke both records has yet to be named.
The Shore Club Residences in Miami Beach, Florida
About The Shore Club Private Residences
It is no secret that ultra-luxury new developments in Miami Beach are having a serious moment. There seems to be many projects in development, each with their own formula of exclusive offerings, layouts and services. The only commonality is that they are all beachfront developments and they are all commanding a premium that has increased year over year with no end in sight.
The Shore Club Residences is unique in that it strives to blend Miami Beach’s glamorous history with modern times. It succeeds in its mission by offering both a redevelopment of a historic 1930’s Art Deco building as well as a new 18-story glass tower.
Robert A.M. Stern Architects collaborated with Kobi Karp Architecture and Interior Design to deliver 49 unique private residences. Between the boutique condominium residences, the 6,000 square-foot standalone beachfront mansion and the 10,500 square-foot rooftop penthouse, no two residences are alike. The adjoining five-star resort is operated by Auberge Resorts Collection.
Rendering of The Shore Club Residences South Beach Pool
Record-Breaking Transactions
It has been a landmark season for Miami Beach, which is now identifying as a billionaire’s playground. Not only has Ken Griffin been on a record-breaking spending spree, Jeff Bezos has famously saved over $600 million in taxes by purchasing a home base on Indian Creek. They are joined by Carl Icahn, Daniel Och and Josh Harris in the Sunshine State, and the possibility exists for Elon Musk to join the fold.
What remains to be seen is how long this current penthouse record will be held. Several high-priced penthouses are joining The Shore Club in quietly offering trophy residences for previously unheard of prices. The Ritz Carlton Residences South Beach has a 15th-floor duplex penthouse that is being offered for a reported $125 million. Just a block away, the historic Raleigh Hotel is being re-developed by New York’s SHVO. With just 30 total residences, the penthouse at the Raleigh Hotel is asking $150 million.
Rendering of The Shore Club Residences Primary Bathroom
Although The Shore Club Private Residences is now the current record holder with the most expensive condo sale, the project is being discreetly marketed. It has been said that prices begin in the $6 million range, with the average price being around $20 million. The project is expected to be completed in 2026.
Douglas Elliman is the exclusive broker for The Shore Club Residences. Because The Shore Club is an ultra-exclusive, private collection of residences, we are only releasing floor plans, additional information and renderings to pre-qualified buyers. If you are interested in a private presentation of the project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
