A New York couple is putting $47 million into a penthouse at one of Brickell’s most heavily hyped new residential towers, adding another eye-popping deal to Miami’s luxury real estate scoreboard.
The couple agreed to buy the penthouse at the planned St. Regis Residences, Miami, a branded condominium project in Brickell, according to Bloomberg. At $47 million, the purchase sits just below the mainland Miami condo record, but it is close enough to keep the trophy-property arms race feeling very much alive.
Miami’s New Condo Ceiling Is Getting Uncomfortably High
That record was set in March, when two penthouses at the planned Residences at Mandarin Oriental, Miami, went under contract for $49.9 million apiece. The South Florida Business Journal reported that the deals were expected to establish a new City of Miami condominium benchmark, while Hoodline’s earlier look detailed why the Brickell Key sales were such a big deal for the market.
The new St. Regis purchase is part of a project being developed by Related Group and Integra Investments along the South Brickell waterfront. The developer’s project page describes the residences as a luxury condominium designed around private ownership, high-end service and a bayfront setting, with the project located at 1809 Brickell Avenue, according to Related Group.
New York Buyers Remain A Major Force In South Florida
The buyer’s New York connection also fits a broader South Florida pattern rather than appearing out of nowhere. New York accounted for 32.7% of South Florida’s out-of-state homebuyers in 2025, according to the MIAMI Realtors luxury report.
At the very top of the market, the association also highlighted a $44 million Surf Club Four Seasons penthouse purchase in the first quarter by former Starbucks CEO Howard Schultz. That comparison puts the $47 million St. Regis deal in the same rarefied category, even though a handful of record-setting sales do not describe what is happening across every Miami condo price tier.
For Brickell, the appeal is easy to understand: a waterfront address, a globally recognizable hospitality brand and a new residence designed to function as a private home rather than a hotel suite. For Miami’s luxury developers, meanwhile, the message is even simpler—buyers from New York and elsewhere are still willing to pay nearly $50 million for the right perch above Biscayne Bay.
