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Not-Yet-Built Florida Penthouse Sells for $21 Million

A yet-to-be-constructed condo in Sunny Isles Beach, Fla. is in contract for $21 million, according to the developer.

At the Ritz-Carlton Residences, Sunny Isles Beach, the 7,735-square-foot penthouse is a combination of two units comprising the 51st floor, according to Edgardo Defortuna of Fortune International Group, which is developing the 52-story beachfront tower with Château Group. Construction is set to begin in 2016 and will be completed in 2018.

When completed, the penthouse, seen in a rendering here, will have five bedrooms, 6½ bathrooms and a terrace with a garden and a pool. With views of the ocean and the Miami skyline, the unit comes with five parking spaces. Mr. Defortuna said the purchaser is a successful entrepreneur who plans to use the unit as a home, but declined to identify the buyer.

The two 51st floor units were originally asking a total of about $24.5 million, Mr. Defortuna said. The buyer was choosing between the 51st and 52nd floor penthouses and ultimately asked to combine both 51st floor units, he said. The 52nd floor unit is still available asking $30 million.

The building, about 20 miles north of Miami, will have 212 units. Amenities will include a restaurant and pool, guest suites for visitors and a fuel-delivery service for residents’ cars. Sales started in early 2015 and about 60% of the units are now in contract, Mr. Defortuna said.

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http://www.wsj.com/articles/not-yet-...ion-1449764504