By Ivan & Mike Team: Miami’s #1 New Construction Real Estate Advisors
Miami Luxury Real Estate: The Investment Case in 2025-2026
Miami luxury real estate has entered a new chapter. For the first time in history, Miami’s luxury condo market closed 2025 at a record annual median price of $1,030 per square foot, crossing the $1,000/sqft threshold and holding it throughout the year. By December 2025, Miami surpassed New York City as the #1 U.S. metropolitan area for million-dollar listings, with 10,591 active listings priced at $1 million and above.
Within this landscape, two neighborhoods stand apart for discerning buyers: Sunny Isles Beach, South Florida’s “Florida Riviera”, and Edgewater Miami, a bayfront urban gem. Both offer distinct investment profiles, lifestyle propositions, and architectural landmark buildings that represent the pinnacle of branded residential development.
Schedule a confidential strategy call with the Ivan & Mike Team to structure your next Miami luxury acquisition.
Market Snapshot: Miami Luxury Condos at a Glance
| Metric | Miami Market (2025) | Sunny Isles Beach | Edgewater Miami |
|---|---|---|---|
| Luxury Median Price/Sqft | $1,030 (annual record) | $1,350,000 median sale price | Buyer's market; fastest-selling segment |
| YOY Price Change | Record high; 5-year gain: +53.9% | +6.2% (Q3 2025) | Prices flattening; buyer leverage rising |
| Average Days on Market | Varies by submarket | 74 days (Q3 2025) | 65 days, shortest in Greater Downtown |
| Market Condition | Buyer's market at $5M+ | Tight oceanfront inventory | Increasing inventory; negotiation leverage |
| 2026 Outlook | Positive as rates normalize | New construction wave: St. Regis, Bentley | Early beneficiary of market normalization |
Price Appreciation Context: Miami luxury condo prices rose 53.9% over five years, from $840/sqft in Q3 2020 to $1,292/sqft in Q3 2025.
Sunny Isles Beach: The “Florida Riviera”
Why Sunny Isles Beach Stands Apart
Sunny Isles Beach occupies a narrow barrier island along the Atlantic Ocean, nestled between Bal Harbour to the south and Aventura to the north, a coveted position that places residents within minutes of the Bal Harbour Shops, Aventura Mall, and both Miami and Fort Lauderdale international airports. Its 2.5-mile stretch of white-sand oceanfront has evolved from a tranquil beach community into one of the most globally recognized corridors for ultra-luxury branded residences.
The transformation is architectural: over the past decade, Sunny Isles Beach attracted the world’s most prestigious brands, Armani, Porsche Design, Ritz-Carlton, and now Bentley and St. Regis, each competing to redefine what oceanfront living means for the ultra-high-net-worth buyer.
| Indicator | Data | Period |
|---|---|---|
| Median Sale Price | $1,350,000 | Q3 2025 |
| Year-Over-Year Price Change | +6.2% | Q3 2025 |
| Average Days on Market | 74 days | Q3 2025 |
| Inventory Trend | Slightly increasing | Q3 2025 |
| Primary Buyer Profile | Foreign investors + HNW individuals | Current |
| St. Regis Construction Loan | $418 million secured | 2024 |
Contact the Ivan & Mike Team today to receive a personalized Miami luxury market briefing and property shortlist within 24 hours.
Landmark Buildings: Sunny Isles Beach
Residences by Armani/Casa: 18975 Collins Avenue
Designed by the legendary César Pelli (architect of Miami’s Adrienne Arsht Center), the Armani/Casa tower rises 649 feet across 56 floors with 308 exclusively designed units. Sitting on 300 linear feet of pristine oceanfront, the building is preceded by 3 acres of gardens landscaped by Enzo Enea, a feature unique to Sunny Isles. Every residential element was personally curated by Giorgio Armani himself, including an in-house art collection, Armani Privé lounge, temperature-controlled wine cellar, and on-premise fine dining with in-residence delivery.
| Feature | Detail |
|---|---|
| Units | 308 |
| Floors | 56 |
| Size Range | 1,549–3,640 sq ft |
| Year Built | 2020 |
| Starting Price | from $1.07M |
Porsche Design Tower: 18555 Collins Avenue
One of the most iconic and inventive residential towers in the world, the Porsche Design Tower features a patented “Dezervator”, a robotic car elevator allowing residents to park their vehicles directly adjacent to their living room. Each of the 132 residences across 57 floors includes a 15-foot deep terrace with a private pool, an outdoor gourmet kitchen, and a gas fireplace.
| Feature | Detail |
|---|---|
| Total Units | 132 |
| Floors | 57 |
| Residence Size | 3,130–9,560 sq ft |
| Current Listing Range | $3.7M–$14.6M |
| Price/Sqft (avg) | $1,696/sqft |
| Unique Feature | In-unit robotic car elevator |
Ritz-Carlton Residences: 15701 Collins Avenue
A 52-story, 212-residence oceanfront tower developed by Fortune International Group and Chateau Group, the Ritz-Carlton Residences offers the legendary five-star service standard in a completely private residential building, no hotel on premises. Every unit faces the ocean and includes a private elevator.
| Feature | Detail |
|---|---|
| Year Built | 2020 |
| Units | 212 |
| Floors | 52 |
| Size | 1,447–3,204 sq ft |
| Price Range | $3.0M–$6.5M |
| Avg Price/Sqft | $2,167/sqft |
Acqualina Resort & Residences: 17875 Collins Avenue
The crown jewel of the Acqualina Collection, this 286-unit, 51-floor Mediterranean-inspired tower has been the gold standard of Sunny Isles living since 2006. Part of a three-building complex alongside Mansions at Acqualina and Estates at Acqualina, the campus offers one of South Florida’s most comprehensive five-star resort experiences.
| Feature | Detail |
|---|---|
| Units | 286 |
| Sale Price Range | $3.2M–$17.5M |
| Rental Range | $16,000–$150,000/month |
Pre-Construction Opportunities: Sunny Isles Beach
St. Regis Residences: 18801 Collins Avenue (Delivery: 2027-2028)
Two twin towers on 4.7 acres and 435 linear feet of oceanfront, designed by Arquitectonica and developed by Fortune International Group. The project secured a landmark $418 million construction loan, signaling strong institutional confidence in the Sunny Isles corridor. With over 70,000 sq ft of amenities and no hotel on premises, this is one of the most anticipated new-construction deliveries on the East Coast.
| Residence Type | Entry Price |
|---|---|
| North Tower: 2 BR | from $4,500,000 |
| North Tower: 3 BR | from $8,400,000 |
| South Tower: 2BR+Den | from $5,600,000 |
| South Tower: Half Floor | from $14,990,000 |
| South Tower: Full Floor | from $27,000,000 |
Bentley Residences: 18401 Collins Avenue (Delivery: 2028)
At 62 stories and 749 feet tall, Bentley Residences will be one of the tallest residential towers on the East Coast. Its 216 residences feature in-unit garages accessible via car elevator and interiors reflecting Bentley’s signature craftsmanship.
| Feature | Detail |
|---|---|
| Units | 216 |
| Floors | 62 |
| Starting Price | from $5.8M |
| Penthouse Range | up to $37.5M |
Edgewater Miami: Bayfront Living at the Center of Everything
The Edgewater Advantage
Edgewater occupies one of Miami’s most strategically positioned corridors: directly on Biscayne Bay, bordered by Wynwood to the west, Midtown and the Design District to the north, and Downtown Miami to the south. What was once a quieter residential neighborhood has transformed dramatically into a skyline of luxury high-rise towers offering sweeping bay views at a compelling value proposition relative to oceanfront alternatives.
The neighborhood’s cultural appeal is unmatched: residents walk to the Adrienne Arsht Center for the Performing Arts, home to Miami City Ballet, Florida Grand Opera, and New World Symphony. The Pérez Art Museum Miami (PAMM), Frost Museum of Science, Kaseya Center, and Wynwood Walls are all within minutes. Margaret Pace Park provides a bayfront green sanctuary with dog parks, sports courts, and marina access.
Edgewater Miami: Key Market Indicators
| Metric | Data |
|---|---|
| Median Days on Market | 65 days: fastest in Greater Downtown |
| Market Condition | Buyer's market with negotiation leverage |
| Luxury Rental Range | $15,000–$40,000/month |
| 2026 Outlook | Early beneficiary of rate normalization |
| Dominant Buyer Type | Cash buyers at $1M+ |
| Proximity | 4 min to Wynwood, 11 min to Brickell, 18 min to Airport |
Edgewater recorded the shortest median selling time of any submarket within Greater Downtown Miami in Q4 2025 at just 65 days, outperforming Brickell and all other Downtown-adjacent neighborhoods.
Landmark Buildings: Edgewater Miami
Missoni Baia: 700 NE 26th Terrace
A first by the House of Missoni, this 249-unit, 57-story tower brings Italian fashion brand heritage to Miami’s waterfront with 200 linear feet of Bay frontage. Designed by Asymptote and Revuelta Architecture, with Paris Forino interior design and Enzo Enea landscaping, every common space reflects Missoni’s signature zigzag patterns and vibrant color palette.
| Feature | Detail |
|---|---|
| Developer | OKO Group, OB Group, Cain International |
| Total Units | 249 |
| Floors | 57 |
| Size Range | 776–3,788 sq ft |
| Price Range | $500K–$9M+ |
| Year Built | 2022 |
| Amenities | 3 pools, tennis, spa, pet spa, screening rooms |
Elysee Miami: 788 NE 23rd Street
Rising 57 stories in an original telescoping design, Elysee is one of Edgewater’s most exclusive addresses, with only 100 residences and a maximum of two per floor. This boutique exclusivity sets it apart from most Edgewater towers. The building offers floor-to-ceiling bay views, a 75-foot resort pool, a chef-grade commercial kitchen in the amenity floor, and a library that converts to a private theatre.
| Feature | Detail |
|---|---|
| Units | 100 |
| Floors | 57 |
| For Sale Range | $2.99M–$6.25M |
| For Rent Range | $19,500–$40,000/month |
| Price/Sqft (avg) | $1,355/sqft |
| Developer | Two Roads Development |
One Paraiso: 3131 NE 7th Avenue
Part of the four-tower Paraiso Bay complex, One Paraiso is a 276-unit, 53-story tower with only six apartments per floor and semi-private elevators. Designed by Arquitectonica with interiors by renowned designer Piero Lissoni, it features a beach club with a private pool, marina, restaurant, and two lighted tennis courts.
Aria Reserve: Miami’s Tallest Waterfront Twin Towers
Aria Reserve’s South Tower is among the newest completed developments in Edgewater, featuring Miami’s tallest waterfront twin towers with extraordinary Biscayne Bay views. This represents the most recent generation of Edgewater luxury, attracting buyers who prioritize forever water views and contemporary construction standards.
Edgewater vs Sunny Isles Beach: Investment Comparison
| Dimension | Sunny Isles Beach | Edgewater Miami |
|---|---|---|
| Location | Atlantic Ocean oceanfront | Biscayne Bay bayfront |
| Urban Connectivity | Suburban resort enclave | Urban walkable, arts & culture district |
| Signature Buildings | Armani Casa, Porsche Design, St. Regis, Bentley | Missoni Baia, Elysee, Aria Reserve |
| Entry Price (Luxury) | $1.07M–$3M+ | $500K–$3M+ |
| Ultra-Luxury Range | $5M–$37.5M+ | $3M–$9M+ |
| Market Velocity | 74 days median DOM | 65 days, fastest in area |
| New Construction Pipeline | Bentley, St. Regis (2027–2028) | Aria Reserve (completed) |
| International Buyer Appeal | Very high (Latin American, European) | High (urban professionals, investors) |
| Buyer Advantage | Pre-construction opportunity pricing | Buyer's market at $5M+; negotiation leverage |
The Florida Tax Advantage That Changes Everything
Florida’s tax environment is a primary driver of luxury real estate demand, and no conversation about Miami luxury real estate is complete without understanding its structural advantages:
| Tax Benefit | Florida | High-Tax Alternative |
|---|---|---|
| State Income Tax | None | Up to 13.3% (California) |
| Estate / Inheritance Tax | None | Up to 16% (several states) |
| Homestead Exemption | $50,000 | Minimal or none |
| Annual Assessment Cap | Save Our Homes: 3% | Varies, often higher |
| Creditor Protection (Primary Residence) | Unlimited | Limited |
| Portability of Benefits | Yes | Rare |
For a high-net-worth buyer earning $2M annually and relocating from New York (8.82% state tax) or California (13.3% top rate), Florida residency can represent $175,000-$265,000 in annual tax savings, effectively funding a luxury mortgage or reinvestment. Florida also consistently reports budget surpluses and maintains approximately $15 billion in state reserves, ranking among the most fiscally stable states in the country.
Florida remains one of only nine states with no personal income tax, making it especially attractive to high earners, retirees, and remote workers.
The Miami Luxury Buyer Profile
Miami’s luxury market is driven by a sophisticated, globally diverse buyer base:
- Domestic Relocators: High-income earners from New York, California, Illinois, and the Northeast seeking tax relief and lifestyle upgrade
- International Investors: Buyers from Latin America (Brazil, Colombia, Venezuela, Argentina, Mexico) and Europe (France, Italy, UK) who view Miami as a safe-harbor asset class
- Corporate Relocators & Remote Executives: Following the migration of financial firms, hedge funds, and tech companies to South Florida
- Generational Wealth Buyers: Family offices and UHNWIs acquiring legacy waterfront assets in a market with permanently constrained oceanfront and bayfront supply
The common thread: cash dominates. In the $1M+ luxury segment, cash buyers continue to be the primary profile, eliminating financing contingencies and accelerating close timelines.
Investment Outlook for 2026
Positive Catalysts
- Rate normalization: As mortgage rates stabilize, sidelined domestic demand is expected to return to Edgewater and Brickell first.
- Branded residence premium: Buyers continue paying for lifestyle and brand, a trend favoring Sunny Isles’ pipeline of Bentley and St. Regis.
- Limited oceanfront land: New oceanfront supply in Sunny Isles is permanently constrained, supporting long-term price appreciation.
- Ultra-luxury waterfront appreciation: $20M+ waterfront homes posted 12-15% YOY appreciation in 2025, driven by the Great Wealth Transfer and international capital flows.
- Miami’s global positioning: Miami’s emergence as the #1 U.S. city for million-dollar listings signals a structural, not cyclical, shift in its global standing.
Risk Considerations
- Resale condo market ($5M+): Buyer-skewed with high inventory; some resale condos closing at approximately 10% discounts to original ask.
- HOA and insurance costs: Rising costs in older buildings are suppressing demand in mid-tier condo segments.
- Property tax changes: New 2025 Florida legislation allows counties to override non-homestead assessment caps, potentially increasing tax burdens for investment properties by 15-30% YOY in growth counties.
Miami: A Global Epicenter of Culture and Luxury in 2026
Beyond its fiscal attractions and robust real estate market, Miami is consolidating its position in 2026 as a vibrant global epicenter of culture, art, and luxury events. This cultural and social dynamism is an additional magnet for high-net-worth buyers seeking an unparalleled lifestyle.
Miami’s 2026 event calendar is packed with world-class events that attract an international audience:
- Formula 1 Miami Grand Prix: An elite motorsport event combining speed, glamour, and exclusivity, attracting celebrities and enthusiasts from around the world.
- Art Basel Miami Beach: The most influential contemporary art fair in America, transforming the city into a global canvas and a meeting point for collectors, artists, and the international jet set.
- Miami International Boat Show: The largest yacht and boat exhibition in the world, a showcase of nautical luxury that underscores the region’s coastal lifestyle.
- Ultra Music Festival: A world-renowned electronic music festival that attracts thousands of visitors and adds a youthful and cosmopolitan energy to the city.
These events, along with a constantly evolving gastronomic scene, high-fashion designer boutiques, and sophisticated nightlife, reinforce Miami’s position as a comprehensive luxury destination. For residents of Sunny Isles Beach and Edgewater, this proximity to Miami’s cultural and social action is an invaluable component of their real estate investment, offering not only a home but privileged access to a global and dynamic lifestyle.
About Ivan & Mike
Ivan Chorney and Michael Martirena are the founders of The Ivan & Mike Team at Compass Florida, one of the most distinguished luxury real estate teams in the United States. With more than $2 billion in closed transactions, they are recognized among the Top 10 Medium Teams in the U.S. by RealTrends and #1 in New Construction Sales in Miami.
Ivan & Mike are celebrated for their deep market intelligence, developer partnerships, and discreet, relationship-driven approach. Their clients include UHNWIs, CEOs, athletes, and global investors seeking strategic acquisitions across South Florida.
Their mission is simple:
“We connect extraordinary people with extraordinary properties, delivering not just a transaction—but a lifestyle.”
Their insights have been featured in The Real Deal, Forbes México, Mansion Global, Inman, and The Wall Street Journal, positioning them as architects of Miami’s luxury lifestyle.
📍 Based in Coconut Grove, Miami, FL 📞 (305) 907-7948 📧 ivan.chorney@compass.com** | **mike.martirena@compass.com 🌐 www.ivanandmike.com
What is the average price of luxury condos in Sunny Isles Beach in 2025?
The median sale price for luxury condos in Sunny Isles Beach was $1,350,000 as of Q3 2025, representing a 6.2% year-over-year increase. Ultra-luxury buildings like Porsche Design Tower range from $3.7M to $14.6M, while pre-construction projects like Bentley Residences start at $5.8M with penthouses up to $37.5M. The Ritz-Carlton Residences average $2,167 per square foot.
Is Edgewater Miami a good real estate investment in 2026?
Yes, Edgewater Miami is considered one of the best-positioned neighborhoods for 2026 recovery. It recorded the shortest median selling time (65 days) in Greater Downtown Miami’s luxury segment in Q4 2025. Luxury buildings like Missoni Baia ($500K-$9M+) and Elysee Miami ($2.99M-$6.25M) offer strong value relative to oceanfront alternatives.
What are the best luxury buildings in Sunny Isles Beach?
The premier luxury buildings include Residences by Armani/Casa (from $1.07M), Porsche Design Tower ($3.7M-$14.6M), Ritz-Carlton Residences ($3M-$6.5M), and Acqualina Resort & Residences ($3.2M-$17.5M). Coming soon: St. Regis Residences (from $4.5M, delivery 2027) and Bentley Residences (from $5.8M, delivery 2028).
Why do luxury buyers choose Florida over other states?
Florida offers a uniquely powerful combination: zero state income tax, no estate or inheritance tax, a $50,000 homestead exemption, the Save Our Homes 3% annual assessment cap, unlimited creditor protection for primary residences, and portability of assessed value benefits. For a buyer earning $2M annually relocating from California or New York, Florida residency can represent $175,000-$265,000+ in annual tax savings.
Who are the best luxury real estate agents in Miami for new construction?
The Ivan & Mike Team at Compass is Miami’s #1-ranked new construction real estate team, with $358M+ in closed sales in 2024 and over $2 billion in total career volume. They specialize in ultra-luxury residential and new development, maintain direct developer relationships, and provide exclusive access to pre-construction pricing and off-market listings across South Florida. They rank in the top 1% of the ultra-wealth broker network.
