Photo courtesy of The Ritz-Carlton, Sunny Isles

Now, as the sky residential oasis prepares for completion at the beginning of fall, luxury homebuyers are falling in love with the project's jaw-dropping architecture, finishes, design and overall concept and services. The penthouses in the residence tower offer unparalleled views of the Atlantic Ocean and penthouse 49 has just gone under contract for $19.75 million, setting the price at almost $2,600 per square foot.

This is the third penthouse to be sold at the stunning oceanfront residences. The unfinished penthouse is one of the four units in the 52-story building. The unit will feature 5 bedrooms, 7.5 bathrooms, a garden terrace with a private pool and summer kitchen.

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Observing the construction, even for a town as accustomed to residential buildings shooting up as Miami Beach is, has been a new experience because of just how unique the Ritz-Carlton Residences, Miami Beach is. Yes, with the Ritz-Carlton name it will undoubtedly be luxurious. Yes, it was designed by the extremely talented Piero Lissoni and is his first full-scale architectural project in the United States.

However, the Ritz-Carlton Residences, Miami Beach is an extraordinary case of a radical adaptive reuse of an older and formerly very utilitarian structure, at a significantly large scale. For many years it was a hospital. And although the bones and structure of the complex will essentially be the same, upon completion few who experience it will have any inkling of its former identity. The transformation is truly mind-boggling. Due to that unusual nature of the building, each of the project's 111 condominium apartments comes with a unique floor plan, with enough room left over on the expansive seven-acre site to accommodate 15 single family homes, each designed from the ground up by Lissoni, and Miami-based architecture firm ADD Inc.

Due to that unusual nature of the building, each of the project's 111 condominium apartments comes with a unique floor plan, with enough room left over on the expansive seven-acre site to accommodate 15 single family homes, each designed from the ground up by Lissoni, and Miami-based architecture firm Stantec. (previously known as ADD Inc. a name they always had trouble with, for obvious reasons) Courtyards will nestle between rambling, glassy wings. Tropical greenery will be everywhere. Breezy terraces will look out over a private marina on Miami Beach's secluded Surprise Lake. And the ocean, glimpsed between distant buildings much less intimate and secluded than the Ritz-Carlton, Miami Beach, will shimmer just before the horizon.

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