THE DEAL: In another major deal for the Miami market, two duplex penthouses at a yet-to-be-built condominium on Brickell Key are in contract for $49.9 million each, according to developer Swire Properties.
THE ASK: The two condo units at the Residences at Mandarin Oriental, Miami, were offered as a single residence asking $100 million, or separate homes priced at $50 million apiece, when sales at the building launched in 2024.
THE SPECS: Each unit is roughly 8,000 square feet with five bedrooms, two kitchens and a library. They are both on the 66th floor with ocean views, terraces, and private outdoor lap pools.
THE BUILDING: The new hotel and condo project will be built on the site of the old Mandarin Oriental hotel. The developer is planning to demolish the circa-2000 hotel next month, and the structure is slated to be completed in 2030.
The project comprises two towers with around 300 condos combined and amenities including 11 pools. The 33-story north tower will have a new Mandarin Oriental hotel and residences.
Swire Properties said since sales launched, more than 50% of the condos in the south tower have gone into contract for more than $1.3 billion in total sales.
