A groundbreaking real estate collaboration in the heart of Miami’s elite coastal landscape is poised to redefine ultra-luxury living, presenting an unprecedented residential offering designed for the world’s most discerning individuals. Industry powerhouses Related Group and Douglas Elliman have joined forces to market a truly unique concept: the seamless integration of two premier oceanside penthouses into a single, expansive residence.
Jon Paul Perez, President and CEO of Related, characterized this as a rare, potentially unreproducible opportunity in a prime location often dubbed the “French Riviera of the States.” He explained that recognizing the strong demand for exceptionally large residences led them to conceive this unique penthouse, which he believes will not be replicated. Jay Parker, CEO of Douglas Elliman, echoed this sentiment, highlighting its location, immense size, and the sheer uniqueness of the offering. “Its walkability, privacy, security, and exclusivity truly make this iconic penthouse one of a kind,” Parker affirmed.
An Unrivaled Sky Estate
Dubbed a “mega-penthouse,” this extraordinary property at the Rivage Residences in Bal Harbour commands an initial listing price of $150 million. Spanning more than 20,000 square feet of interior living space and an additional 10,000 square feet of outdoor areas across three distinct levels, it boasts eight bedrooms and ten bathrooms, complemented by an array of ultra-luxury amenities.
A significant advantage for potential buyers is the property’s customizability. As construction commenced only six months ago, the mega-penthouse’s floor plan can be entirely tailored to the future owner’s specifications. This marks the largest penthouse Related Group has ever developed, a testament to their extensive portfolio of over 120,000 units built to date.
Parker elaborated on the property’s distinct position in the market. “It’s almost in its own private market,” he stated, asserting that it stands as the largest individual offering of its kind currently available. He noted that the project is designed to attract “industry titans” who seek a strong sense of community, creating a “community within a community” that will be hard to match in the foreseeable future.
Catering to the Ultra-Wealthy Influx
This ultra-luxury listing emerges amidst growing media attention surrounding exclusive enclaves like Indian Creek Village, often referred to as “billionaire bunkers,” home to notable figures such as Jeff Bezos, Tom Brady, and Carl Icahn. Perez and Parker anticipate that interested buyers for the $150 million property will be of a similar caliber, viewing it as a trophy asset for international clients or a primary residence for America’s wealthiest.
Perez indicated a balanced interest, with approximately 50% of potential buyers originating domestically, a trend increasingly observed at this price point compared to international acquisition. Data confirms a significant influx of tens of billions of dollars in income moving to Florida in recent years, signaling a robust demand for properties of this scale.
The genesis of the mega-penthouse, as Perez described, came from exploring how to combine existing floor plans. “It’s a bespoke mansion in the sky,” he quipped. Parker added that the evolution of the South Florida market has naturally led to such unique residential opportunities. He emphasized the undeniable global migration of ultra-high net-worth individuals into the region, making the amalgamation of two penthouses into one a logical and “organic” response to market demands.
Market Outlook and Future Prospects
While “a few” interested buyers have already surfaced, the real estate leaders project that a deal for this unprecedented property is unlikely to be finalized until late 2025. Parker explained that historically, penthouses were among the last units to sell. However, the current surge in demand and wealth migration means that buyers in this elite category recognize the urgency and significance of securing such a rare opportunity earlier in the development process. “The time is really aligned with where the market is,” he concluded.
Perez believes that while similar properties may emerge, opportunities of this exact caliber will remain exceptionally rare. “We’re betting on that South Florida continues to be a place where people want to live, where people want to do business,” he affirmed, adding confidence in the region’s stable political environment. Parker reinforced this vision, noting the privilege of shaping this evolving market by collaborating with developers who are creating more than traditional amenities, pushing the boundaries to manifest the “unimaginable.”
Emily Carter has over eight years of experience covering global business trends. She specializes in technology startups, market innovations, and corporate strategy, turning complex developments into clear, actionable stories for our readers.