A new benchmark has been set in Miami's luxury real estate market with the sale of two penthouses at The Residences at Mandarin Oriental for a combined total of nearly $100 million. Developer Swire Properties announced that the two "crown jewel" residences sold for approximately $49.9 million each to separate, undisclosed buyers within two weeks of one another.
The transactions, valued at around $6,300 per square foot, represent the highest-priced condominium sales in the history of mainland Miami. The milestone underscores the sustained and fervent demand for ultra-luxury properties in the city, pushing total sales for the two-tower development past $1.3 billion even before its anticipated groundbreaking in late 2026.
The sales come as Miami continues to attract affluent buyers, particularly from high-tax states. According to the MIAMI Association of Realtors, the region's luxury market, with sales over $10 million, had one of its strongest years on record in 2025. The trend appears to be holding strong, fueled by relocations from places like New York and California.
A new standard for sky-high living
Located on the exclusive island enclave of Brickell Key, which was developed by Swire, the two-story penthouses each offer a living experience comparable to a private estate. Occupying the top of the 66-story South Tower, each residence spans nearly 8,000 square feet of interior space.
The record-setting sales of our two penthouses are a defining moment for The Residences at Mandarin Oriental, Miami and a testament to the enduring confidence in Swire Properties’ legacy on Brickell Key. Setting a new benchmark for ultra-luxury living with the highest price per square foot ever achieved in mainland Miami, these sales affirm Miami’s status as a global destination and the strength of the Mandarin Oriental brand among discerning buyers who value timeless elegance and world-class service.
Designed for ultimate privacy and luxury, each penthouse features an expansive rooftop terrace with a private lap pool and a built-in bar, offering sweeping panoramic views of Biscayne Bay, the Atlantic Ocean, and the iconic Miami skyline. The interior layouts include five bedrooms, seven bathrooms, and three powder rooms, in addition to a library and a dedicated wine bar.
A private elevator opens into a grand foyer, leading to expansive entertaining spaces. The residences boast a gourmet Molteni&C kitchen equipped with high-end Gaggenau appliances, supplemented by a separate chef’s kitchen for extensive catering. Further amenities include a sauna, staff quarters, and private storage located conveniently adjacent to the residence, ensuring every need is met with ease and sophistication.
The rapid sale of both penthouses before construction has even begun highlights the powerful draw of branded residences, which combine the comforts of a private home with the five-star service of a luxury hotel. The success speaks to buyer confidence in both the Mandarin Oriental brand and Swire Properties' extensive track record in Miami.
An architectural and design landmark
The overall project is designed by the world-renowned architecture firm Kohn Pedersen Fox (KPF) and consists of two towers. The 66-story South Tower will feature 228 private residences, while the 33-story North Tower will house 70 private residences, 28 hotel-in-residence turnkey homes, and 121 hotel guest rooms. This integration of residential and hotel spaces creates a unique, service-rich environment that contrasts with other large-scale projects, including the city's move to develop more affordable housing in areas like Liberty City.
The interior design is handled by two celebrated Parisian designers. Tristan Auer is responsible for the South Tower’s common areas, bringing a refined, hospitality-focused aesthetic. The North Tower’s residences are designed by AD100 designer Laura Gonzalez, known for her warm, richly detailed, and craft-oriented interiors. This dual-designer approach gives each tower a distinct character while maintaining a unified standard of excellence.
“These milestone sales mark a significant moment for The Residences at Mandarin Oriental, Miami and reflect the extraordinary success the project has achieved since launch,” said Edgardo Defortuna, President and CEO of Fortune International Group, which is managing sales. “The sale of both penthouses speaks to the strong global demand for exceptional branded residences.”
Unparalleled amenities on a resort-style podium
Connecting the two towers is a sprawling 100,000-square-foot, multi-level amenity podium managed by the Mandarin Oriental Hotel Group. The space, with lush landscaping conceptualized by Thai firm SHMA, is designed to be an urban oasis and includes an immersive forest walk through verdant gardens.
Residents will have access to an exhaustive list of amenities, including two state-of-the-art fitness centers, 11 resort-style pools with private cabanas, wellness cabanas for outdoor spa treatments, and dining pavilions with grills. The wellness offerings are extensive, with warm and cold plunge pools and access to the hotel's award-winning signature spa, which combines ancient healing practices with modern techniques.
For socializing and business, the development includes curated lounges, a business center with private meeting rooms, a library and coffee bar, a multi-use sports court, a game room with a golf simulator and billiards, and a private screening lounge. A dedicated children's club is also planned. All these features are serviced to the legendary standards of the Mandarin Oriental brand.
With pre-development work reportedly ahead of schedule, construction is set to begin in late 2026. Remaining residences in the South Tower are priced from $6.6 million, while those in the North Tower start at $3.9 million.
