Florida's most expensive penthouse fetches $21m

Florida has a new most expensive penthouse, after a developer sold a unit for $21 million in a building that has not even been constructed yet.

Florida has a new most expensive penthouse, after a developer sold a unit for $21 million in a building that has not even been constructed yet.

Work is set to begin on the Ritz-Carlton Residences in Sunny Isles Beach in 2016, with a completion date of 2018. That wait, though, has not deterred buyers: about 60 per cent of the units in the project have already sold, according to Edgardo Defortuna of the developer, Fortune International Group.

The building will be located 20 miles north of Miami and include 212 units, as well as a restaurant and pool. Off-plan sales started earlier this year, but it has only taken a few months for record sums to change hands.

The 7,735-square-foot unit was bought for $21 million earlier this month and is located on the 51st floor. It will boast five bedrooms, 6.5 bathrooms, a terrace featuring a garden and pool, plus five parking spaces - not to mention the views of the ocean and Miami skyline. The property was purchased by an anonymous "successful entrepreneur", reports the Wall Street Journal.

The buyer reportedly could not decide by a 51st and 52nd floor penthouse in the 52-storey tower - and so they decided to combine both 51st floor units into one.