Hoping for a Penthouse for Christmas? You Might be Too Late

If all you wanted for Christmas was a Miami Beach mansion in the sky, you may be disappointed. Luxury beachfront penthouses could be the hottest item for sale since Tickle-Me-Elmo.

Photo by Riva Bay Harbor Joining six others, two new designer model residences from artefacto and SoJo Design were unveiled at the Riva Bay Harbor launch party on Dec. 12, 2013. The new development is located in South Florida's Bay Harbor Island neighborhood.

With luxury penthouses selling out fast, developers couldn't be happier this holiday season. Apparently there's an unexpected demand for upscale condo units with more than 3,000 feet on Miami Beach.

Dora Puig, the director of sales for the 25-unit Riva Bay Harbor project told the Daily Business Review that she was surprised when the two penthouse units in the building were among the first to sell. 

"It was the exact opposite of what I was expecting," Puig told the DBR, explaining that after the building's two largest units were snapped up "we got a lot of calls where people are saying 'Do you have a penthouse?' and then we'd say, 'No,' and then they'd hang up." 

The two penthouses sold for $605 and $617 per square foot, while other sales in the building have averaged around $527 per square foot. 

Why the high demand? "I think more people are settling here, and we're in a more end-driven market than during the last boom, so clients are demanding more space," Puig said.

With 40 percent of the Riva Bay Harbor project already sold, the remaining residences could go fast. Features include: 

  • Spacious wrap-around balconies with killer views
  • Private boat slips
  • Private entry elevators for upper floor units
  • European kitchens with stainless steel Bosch appliances
  • Rooftop and spa outdoor lounge and fitness center designed by Sam Robin
  • Walking distance to beaches, restaurants and the Bal Harbour Shops

Photo by Riva Bay Harbor Sam Robin also designed the building’s stunning rooftop pool deck which overlooks the Indian Creek golf course greens and features views of the Atlantic Ocean.

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