A new benchmark in waterfront living is taking shape on Brickell Key. In a milestone moment for both the development and the broader Miami market, two duplex penthouses at The Residences at Mandarin Oriental, Miami have entered contract at $49.9 million each, among the most significant residential transactions in mainland Miami’s history.

Positioned at the pinnacle of the South Tower, these exceptional residences represent a rare convergence of scale, design, and setting. Each penthouse spans approximately 8,000 square feet, with five bedrooms, expansive terraces, private outdoor lap pools, and panoramic views that extend across the Atlantic Ocean, Biscayne Bay, and the Miami skyline.

Originally offered as a single combined residence, the two homes quickly found individual buyers, an indication of the growing demand for residences that offer both privacy and an elevated sense of place. Their scale and design reflect a new level of luxury within the Miami market, where thoughtfully composed interiors and expansive outdoor living define the experience of home.

The sales arrive amid continued momentum across Miami’s high-end residential landscape, where demand for waterfront properties and branded residences remains strong. Against this backdrop, The Residences at Mandarin Oriental, Miami stands apart, bringing together architectural design, curated amenities, and the brand’s legendary approach to service in a singular island setting.

“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” notes Dave Martin, President of Swire Properties.

Set on the site of the former Mandarin Oriental hotel, the new development will introduce a two-tower destination anchored by Mandarin Oriental’s North American flagship. The North Tower will bring together a new hotel and a limited collection of residences, while the South Tower will offer an expansive residential experience, with more than half of its homes already in contract since launch.

Across both towers, residents will have access to an exceptional range of amenities, including multiple pools, wellness spaces, and signature dining overlooking Biscayne Bay. Together, these elements create a residential environment defined by both privacy and connection.

At its highest levels, The Residences at Mandarin Oriental, Miami offers more than a home. It presents a rare opportunity to experience a new expression of luxury.