A New Era for South Florida Penthouses as Demand Surges

South Florida’s ultra-prime condominium market is showing new depth at the $20 million threshold. Based on publicly reported closings and disclosed signed or pre-groundbreaking contracts between March 29, 2025, and March 29, 2026, the region logged at least 13 penthouse deals at $20 million and above, totaling about $520.2 million. The Surf Club corridor led the activity, while major pre-construction commitments at South Flagler House and The Residences at Mandarin Oriental, Miami show buyers are still willing to commit early.