I am very excited to announce today that the new historic redevelopment of the Sagamore Hotel and the Ritz Carlton South Beach Hotel, now dubbed the Ritz Carlton Residences South Beach at 1671 Collins is converting its reservations into formal contracts. This is an instrumental part of the development process, indicating that sufficient sales and permits are in place to sustain the development to closings.
About The Ritz Carlton Residences South Beach
Being known as the original South Beach “Art Hotel,” the Sagamore Hotel at 1671 Collins Avenue was a spearhead to the Art Deco movement in Miami Beach. The hotel is located directly across from Lincoln Road on the South Beach sand and has been a staple in South Beach’s scene of art, history, architecture and entertainment since it opened in 1948.
Directly behind the Sagamore is the Ritz Carlton South Beach Hotel, which will also be incorporated into the redevelopment.
The new Ritz Carlton Residences South Beach will be cantilevered above the Ritz Carlton South Beach hotel, with it’s glassy 15-story structure bringing 30 new oceanfront beach houses that all enjoy ocean views. The owners of these beach houses will also enjoy the full suite of Ritz Carlton amenities, yet they will be separated from the hotel traffic.
Rendering of the Ritz Carlton/Sagamore Miami Beach South Beach
Along with the new tower, the developer Lionstone Development, has teamed up with the City of Miami Beach to utilize almost $5M of grant funds to redesign the Lincoln Road Beachwalk. The redesign will pay homage to Morris Lapidus and his contribution to Miami Beach architecture.
Rendering of Ritz Carlton South Beach Lincoln Road Entrance
Rendering of Ritz Carlton South Beach Lincoln Road Cherry Blossoms
About The Beach Homes At Ritz Carlton Residences South Beach
With only 30 purchase opportunities in total, the Ritz Carlton Residences South Beach is the epitome of an ultra-luxury boutique development. Upon launch, potential buyers needed an invitation to even consider the project including the sprawling $125 million upper penthouse.
Because of the exclusivity, privacy and level of service, the ultra high net worth community took notice quickly. We were incredibly proud to be able to represent the first buyer of the building. Our very discerning client took notice of the opportunity and was the first to raise his paddle and speak for residence 7A. When completed, it will be an ocean-facing 2 bedroom with 2.5 baths.
Rendering of th Ritz Carlton/Sagamore Miami Beach South Beach
With just 30 total residences and prices beginning at $3.9 million, the developers are expecting a total sell-off to top $450 million by the time closings begin in 2027.
With the continued influx of hedge fund capital coming into Miami and with this being the first ultra-luxury residential development in South Beach for decades, we anticipate this goal will come to fruition.
Douglas Elliman is the exclusive broker for this private collection of units at The Ritz-Carlton Residences South Beach. If you are interested in a private presentation of the building, in person or via zoom, please contact Michael Light, Executive Director of Luxury Sales at Douglas Elliman and member of the elite Sports and Entertainment Division. Only qualified buyers will be able to view floor plans, renderings and have access to site tours. You may reach Michael directly at 786.566.1700 or via email at michael@eraglobe.com.
