Top 5 Ultra-Luxury Penthouses Currently on the Market in Miami Beach
Quick Summary
- Miami Beach penthouse pricing now spans $20M to a disclosed $150M tier
- Full-floor layouts and private rooftops are becoming the defining luxury set
- Branded service and landmark restorations are powering trophy-buyer demand
- Compare “asking,” “planned,” and “under contract” pricing before you underwrite
The new penthouse ceiling in Miami Beach
In Miami Beach, the penthouse has always been the symbolic top of the stack. What’s changed is the scale of that “top.” Publicly disclosed pricing has pushed into nine-figure territory, and features once considered exceptional - private rooftop pools, full-floor plans, and multiple terraces - are increasingly treated as baseline requirements for the most rarefied offerings.
For buyers, this market is less about a single view corridor and more about a complete proposition: oceanfront frontage, privacy, architectural narrative, and a hospitality-grade service model that operates quietly in the background. In practical terms, the penthouse is no longer simply a larger unit. It is a privately programmed environment - an estate in the sky.
Top 5 most expensive penthouses in Miami Beach (by publicly disclosed pricing)
1. Rosewood Residences at The Raleigh (Miami Beach) - Full-floor penthouse Positioned at an approximately $150 million asking price, this full-floor penthouse is marketed as a potential benchmark for Miami Beach condo pricing. The scale is outsized: about 13,000 interior square feet paired with roughly 16,750 square feet of private outdoor space, including a rooftop pool.
The broader redevelopment centers on the restoration of The Raleigh Hotel, a 1940 landmark designed by architect Lawrence Murray Dixon, anchoring a 3-acre oceanfront setting. The residential component is intentionally scarce at just 40 residences, making the penthouse read less like a “top unit” and more like a singular asset.
2. The Ritz-Carlton Residences South Beach (1671 Collins Ave, Miami Beach) - Planned penthouse A planned penthouse has been publicly associated with a projected price of around $125 million. For buyers who underwrite based on certainty, the key nuance is that “planned” pricing can evolve, but the headline signals where developers believe the top of the South Beach market can go.
At this level, the Ritz-Carlton name typically cues an emphasis on service cadence and operational polish - an important consideration for second-home owners who want ownership to feel effortless, with arrivals, departures, and long absences handled discreetly.
3. Shore Club Private Collections (1901 Collins Ave, Miami Beach) - Penthouse A penthouse at Shore Club Private Collections has been publicly described as under contract for over $120 million, placing it firmly in Miami Beach’s trophy stratum. The residence is characterized by approximately 10,500 interior square feet and about 7,500 square feet of terrace space, culminating in a private rooftop pool.
The project is branded with Auberge Resorts Collection and combines historic Art Deco buildings with a new tower component. In other words, the “new” is designed to coexist with a legacy address - an especially compelling proposition for buyers who want contemporary volume with a strong sense of place.
4. The Perigon (5333 Collins Ave, Miami Beach) - Penthouse West (PHW) Priced at $37 million, The Perigon’s Penthouse West serves as a clear reference point for the current high end outside the nine-figure category. Its appeal is rooted in indoor-outdoor living, with a privately programmed rooftop environment that includes a pool.
For buyers benchmarking today’s market, this tier often marks the crossover moment: expansive enough to feel like a compound, yet still within a band where the buyer pool is broader and liquidity can be more resilient across a full cycle.
5. Five Park (Miami Beach) - Canopy Penthouses Five Park, delivered in 2024, introduced Canopy Penthouses priced at $20 million (PH01) and $19 million (PH02). The publicly disclosed layouts cite approximately 7,923 interior square feet for PH01 and about 7,756 interior square feet for PH02, complemented by large wraparound terraces.
These homes are positioned as Miami Beach’s highest penthouses, underscoring a key theme: even at “entry” penthouse levels by current standards, buyers expect substantial outdoor living and a clean, modern vertical lifestyle.
How to read nine-figure penthouse pricing without losing the plot
At the top end, price tags are typically presented in three different ways - and they don’t carry the same degree of certainty.
First is asking price, which reflects positioning and ambition, but not necessarily the final number. Second is planned or projected pricing, which can indicate an intended market tier, yet still depends on the final product definition. Third is under contract pricing, which suggests the market has already accepted a level, but still is not a recorded closing.
For an ultra-premium buyer, the discipline is to compare like with like: interior square footage, outdoor square footage, private pool provisions, and the rarity of the offering within the building. A full-floor penthouse in a 40-residence oceanfront project is a different instrument than a penthouse in a higher-count tower, even if the skyline photographs look equally compelling.
What Miami Beach’s top penthouses are actually selling: privacy, not just view
Views are abundant along the barrier island; true privacy is not. The modern trophy penthouse in Miami Beach often wins on controllable seclusion: direct elevator arrival, limited adjacency, and outdoor space that feels genuinely private rather than simply elevated.
This is where rooftop programming matters. A private rooftop pool, for example, is not merely a luxury flourish. It’s a practical device that separates the owner’s daily life from common-area circulation and gives entertaining a distinctly residential feel.
On the amenity side, buyers increasingly prioritize the operational layer: security, staffing, and service orchestration that supports a lock-and-leave lifestyle. That is why branded residences and hospitality affiliations have become so prominent in the conversation.
The branded-residence effect: service as an asset value driver
In the rarefied top tiers, a brand is less about a logo and more about a system: staffing standards, maintenance protocols, and the ability to deliver consistency over time. That system becomes part of the real estate.
For buyers evaluating Miami Beach living across different micro-markets, a useful comparison set includes both legacy icons and newer service-forward offerings. The South of Fifth lens can include Apogee South Beach for its established trophy positioning, while new supply reshapes expectations elsewhere along the island.
Similarly, the conversation around hospitality living is naturally informed by projects such as Shore Club Private Collections Miami Beach, where a resort affiliation is integral to the value proposition.
Scale and outdoor square footage: the Miami Beach tell
Miami Beach’s most significant penthouses increasingly compete on outdoor square footage, not just interior volume. In the uppermost offerings, outdoor space can rival - or exceed - the home’s interior, transforming the penthouse into an aerial estate with multiple “rooms” under open sky.
For underwriting, treat outdoor square footage as its own value category rather than a simple extension of interior price-per-foot math. Privacy, wind exposure, and rooftop build-outs can materially change how outdoor areas perform in real life. A rooftop pool also introduces a different maintenance profile and a different level of uniqueness, which can be a positive when rarity is the objective.
For buyers who want new-construction certainty paired with height and park-to-bay perspectives, Five Park Miami Beach is part of the current discussion, particularly as it reframes what “highest” can mean on the island.
Record context: Miami Beach vs. greater Miami-Dade
The broader luxury condo market in Miami-Dade has also produced record-breaking transactions outside Miami Beach proper, including an $86 million oceanfront penthouse sale in Surfside that has been treated as a county benchmark. That context matters because trophy buyers rarely shop by municipal boundary alone.
However, Miami Beach remains its own cultural and lifestyle category. The buyer paying for a landmark restoration narrative on Collins Avenue is often purchasing identity as much as square footage. That narrative can be difficult to replicate elsewhere, even when the numbers are comparable.
A discreet buyer’s checklist before pursuing a top-tier penthouse
Aspirational listings can move quickly into real negotiations, and the best outcomes typically come from clarity, not urgency. Before you engage, pressure-test a few fundamentals.
Confirm how the home lives day to day: elevator arrival, staff circulation, and the separation of entertaining zones from private quarters. Evaluate outdoor usability with the same seriousness as interior finishes. Finally, understand whether you’re buying into a low-density ecosystem that will feel intimate over time, or into a larger amenity club where privacy is created through design rather than scarcity.
If you are comparing branded ecosystems across the island, it can also be useful to study adjacent options such as The Ritz-Carlton Residences® Miami Beach in addition to the South Beach pipeline, especially if you value an established operating framework.
FAQs
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What is the most expensive publicly disclosed penthouse in Miami Beach right now? A full-floor penthouse at Rosewood Residences at The Raleigh has been marketed at about $150 million.
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Are nine-figure penthouses in Miami Beach typically full-floor homes? Often, yes. Full-floor planning is a common way to deliver privacy and scale at the very top.
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Why do private rooftop pools matter so much in this market? They create a truly private amenity layer and expand the home into an outdoor estate-like setting.
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Is “under contract” pricing the same as a closed sale? No. It indicates an agreed deal in progress, but the final recorded closing can still change.
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What does “planned” penthouse pricing mean for buyers? It signals intended market positioning, but details and final pricing can evolve before delivery.
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How should I compare interior and outdoor square footage? Treat them differently: outdoor value depends heavily on privacy, usability, and rooftop build-outs.
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Do branded residences usually command a premium? They can, because service standards and operational consistency become part of what you are buying.
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Is Miami Beach competing with Surfside for record condo pricing? Yes. The county’s record context includes Surfside deals, while Miami Beach leads in cultural cachet.
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Are $20M penthouses still relevant in Miami Beach’s trophy conversation? Yes. They define the upper band of “classic” penthouse pricing even as nine-figure offerings expand.
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What is the smartest first step before touring trophy penthouses? Clarify privacy requirements, outdoor-living priorities, and whether you want scarcity or amenity scale.
For a confidential assessment and a building-by-building shortlist, connect with MILLION Luxury.
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