WRE News: Miami’s Billionaire Oasis: Record Breaking Luxury Condos are Making Waves

Miami, FL – November 14, 2023 – In the competitive realm of luxury real estate in Miami, a $60 million Brickell penthouse and a $54.5 million Miami Beach condo are setting the stage for a new era of high-priced units, as billionaires increasingly make the city their home. 

The current record-holder for the highest condo sale in the area is Citadel CEO Ken Griffin, who spent $60 million on Faena House in 2015. However, the spotlight may soon shift to a unit at the Waldorf Astoria Residences Miami, poised to surpass Griffin’s record, and a $90 million penthouse at the Residences at Six Fisher Island recently went into contract.

As Miami becomes a hotspot for wealthy individuals like Jeff Bezos, who acquired adjacent Indian Creek homes for a combined $147 million, developers are aiming to redefine luxury standards. The $60 million Brickell listing, located in the Residences at 1428 Brickell, aims to set a new benchmark, emphasizing the increasing demand for such high-end inventory. Meanwhile, predictions by industry experts suggest that condo sales approaching $100 million may become more common between 2024 and 2026 as new developments are completed.