The Ritz-Carlton is now headed to South Beach. The Ritz-Carlton Club and Residences, scheduled for completion in 2009, already has successful real estate developments in fractional-heavy locations like Aspen and Hawaii. The new Miami Beach condos will consist of several oceanfront towers, one of which is the former home of the Seville Beach Hotel, a historic property on Collins Avenue.
Miami Beach Condos for Sale
The prices on the new Miami Beach condos range from $100,000 to $500,000 for units of up to 2,000 square feet. For one, two and three-bedroom residences there have one-twelfth deeded interests.
What You Get
For twenty-one days a year you get the use of a fully equipped condo that has master suites with walk-in closets, a full size washer and dryer as well as the option to reserve supplemental time as it is available, up to 35 days per year. There will be 45 fractional ownership residences in the newly restored Seville Tower and owners at The Ritz-Carlton can swap their time for stays at other Ritz-Carlton Clubs.
The Seville Beach Hotel was built in 1955 during the “MiMo” era that flourished in Miami Beach during that time. This new Ritz-Carlton Club will stand out from the others because of the historic preservation of the Seville and its blend of old and new architecture. It will include a private lounge called the Matador which mimics the original supper club from the 1950’s.
The owners of these new Miami Beach condos will also enjoy resort amenities, including a concierge, in-residence dining, and a full-service spa which is predicted to be the largest in Miami Beach.
Earlier This Year…
But the Ritz-Carlton brand brings an unquestionable attraction to the property and earlier this year the development announced that it was going to build an additional tower. Because smaller units did well in sales, this new tower will be primarily made up of one-bedroom residences.
These additional units will not be fractional properties but will be whole ownership condos. Out of the three other Ritz-Carlton properties in Miami Beach this is the only one without a hotel that is solely dedicated to residences.
Contributed by MLR Realty
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