Construction is just beginning on a new Sunny Isles Beach high rise, but the units are selling out fast-- even with price tags of up to $55 million.
When the Mansions at Acqualina is complete, the building will be 65 stories tall and house 79 units. The prices of the condominiums start at around $7.8 million and increase in price, depending on the floor.
Only about 20 units are still for sale, which comes as no surprise to the company that owns the property, the Trump Group. The mansions are being built since residences next door at the Hotel Aqualina rarely are available for resale.
The Trump Group’s president, Michael Goldstein, told Local 10's Tamika Bickham that the Mansions will fill a demand for high-end luxury residences.
"The high end of the market has not changed, people who have money will always spend their money... and people who have money will always buy the best."
One of the units still left on the market is the Mansions' premier unit-- the penthouse suite. It features six bedrooms, nine and a half bathrooms, 30 foot ceilings and a private swimming pool inside the unit's living room.
According to Goldstein, the pool offers an unrivaled view of South Florida.
"It has a cantilever pool off the back of the building that is all glass so when you're swimming in the pool, you're 649 feet in the air, looking down."
He added that when it sells, it will likely be the most expensive penthouse ever sold, outside of New York. Right now, there are two interested buyers considering the purchase. Any potential buyer must pay cash up front.
Once they move in, the homeowners will stay have to pay a small fortune to keep things running smoothly. For the "cheaper" units, annual upkeep costs are expected to be about $250,000. For the penthouse, costs will top $1.5 million.
Goldstein says a large apartment and great views aren't the only thing they're paying for. A concierge service provides homeowners with everything from 24-hour room service to the use of a Rolls Royce to run their errands.
Construction is expected to be complete in 2015.
And if $55 million is above your budget, you may be interested in a $39 million penthouse featured on Local 10 last week.