Swire Properties has officially announced the landmark sale of the two uppermost penthouses at The Residences at Mandarin Oriental, Miami, a highly anticipated two-tower development on the exclusive island of Brickell Key. Each bi-level penthouse sold for $49.9 million, resulting in a staggering combined transaction of $99.8 million. According to Swire Properties, these deals represent the highest-priced condominium sales ever recorded on mainland Miami, establishing a historic price benchmark of approximately $6,300 per square foot. The project, designed by the world-renowned architecture firm Kohn Pedersen Fox (KPF), is being exclusively represented by Fortune Development Sales and continues to set the standard for ultra-luxury residential real estate in the region.
The momentum for the project has reached unprecedented levels, with the total sales volume now exceeding $1.3 billion across both towers. In February 2026 alone, the development reported more than $90 million in signed contracts, signaling robust global demand for the Mandarin Oriental brand. Pre-development activities are currently running ahead of schedule, with the official groundbreaking now anticipated for late 2026. This record-setting pace affirms Miami’s status as a top-tier global destination and highlights the enduring confidence in Swire Properties’ decades-long legacy of developing Brickell Key into one of the world's most prestigious residential enclaves.
Located at the apex of the planned 66-story South Tower, each record-breaking penthouse offers nearly 8,000 square feet of interior space. The residences are designed for the ultimate indoor-outdoor lifestyle, featuring private rooftop terraces equipped with lap pools, full bars, and panoramic views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. The interiors are configured with five bedrooms, seven bathrooms, and specialized spaces including a library, wine bar, and private sauna. High-end finishes include Molteni&C kitchens with Gaggenau appliances, private elevator access, and dedicated staff quarters, ensuring a level of privacy and sophistication rarely seen in the vertical residential market.
The Residences at Mandarin Oriental, Miami is envisioned as a comprehensive replacement for the existing hotel on Brickell Key, effectively doubling down on the island’s luxury profile. The 66-story South Tower will house 228 private residences, while the 33-story North Tower will feature a mix of 70 private residences, 28 Hotel Collection units, and 121 hotel guest rooms. The two structures will be seamlessly linked by a massive 100,000-square-foot amenity podium operated by the Mandarin Oriental Hotel Group. This expansive space is designed to provide a resort-style environment that integrates world-class hospitality directly into the daily lives of the owners.
The planned amenity program is among the most extensive in South Florida, featuring 11 swimming pools, multiple fitness and wellness centers, and the signature Mandarin Oriental spa. Residents will also have access to business lounges, dining pavilions, a sports court, an indoor golf simulator, and a dedicated children's club. The design of these spaces is led by a global team of experts: Tristan Auer is handling the South Tower’s amenity interiors, Laura Gonzalez is designing the North Tower’s private residential interiors, and the landscape architecture for the podium is being spearheaded by SHMA. This collaborative effort ensures that every corner of the property reflects a unique blend of timeless elegance and contemporary luxury.
As the ultra-luxury market in South Florida continues its upward trajectory, Swire Properties reports that pricing for the remaining inventory remains competitive for the level of service provided. Remaining residences in the South Tower start at $6.6 million, while North Tower units begin at $3.9 million. The success of this project comes at a time of historic strength for the region; the MIAMI Association of Realtors reported that 2025 saw 361 home sales above the $10 million mark, the second-highest annual total on record. With its record-breaking penthouse sales and unmatched brand pedigree, The Residences at Mandarin Oriental, Miami is firmly positioned as the definitive landmark of this new era of Miami real estate.
Frequently Asked Questions (FAQs)
What was the record set by the penthouses at Mandarin Oriental, Miami? The two penthouses sold for $49.9 million each, making them the most expensive condominium sales ever recorded on the mainland of Miami, at approximately $6,300 per square foot.
Where is the project located? The development is located on the exclusive island of Brickell Key, replacing the existing Mandarin Oriental hotel.
When will construction on the towers begin? Groundbreaking is currently anticipated for late 2026, with pre-development activities running ahead of schedule.
What are the differences between the South and North Towers? The South Tower (66 stories) is purely residential with 228 units, while the North Tower (33 stories) combines 70 private residences with hotel rooms and hotel-branded residences.
What is the starting price for units at the Mandarin Oriental? Pricing starts at $3.9 million in the North Tower and $6.6 million in the South Tower.
Who are the architects and designers involved? The project is designed by Kohn Pedersen Fox (KPF), with interiors by Tristan Auer and Laura Gonzalez, and landscaping by SHMA.