Swire Properties has announced the sale of its two crown jewel penthouses at The Residences at Mandarin Oriental, Miami, each at a record setting $49.9 million. Sold to separate buyers within two weeks of each other, the nearly $100 million in combined sales – approximately $6,300 per sq. ft. – mark the highest-priced condominium transactions in mainland Miami history and underscore sustained demand for the world-class enclave.
With these transactions, The Residences at Mandarin Oriental, Miami has surpassed $1.3 billion in total sales across its two towers, with February alone generating more than $90 million in sales. Pre-development work remains ahead of schedule, with groundbreaking anticipated in late 2026
“The record-setting sales of our two penthouses are a defining moment for The Residences at Mandarin Oriental, Miami and a testament to the enduring confidence in Swire Properties’ legacy on Brickell Key,” said Dave Martin, incoming President of Swire Properties Inc. “Setting a new benchmark for ultra-luxury living with the highest price per square foot ever achieved in mainland Miami, these sales affirm Miami’s status as a global destination and the strength of the Mandarin Oriental brand among discerning buyers who value timeless elegance and world-class service.”
Two penthouse sales prior to groundbreaking are an extraordinary achievement in the luxury residential market, affirming the enduring appeal and unmatched stature of The Residences at Mandarin Oriental, Miami. The milestone reflects buyers’ confidence not only in the enduring prestige of the Mandarin Oriental brand and Swire Properties’ proven track record, but also in the vision of the project’s world-class design team, whose architectural, interior and landscaping expertise has resonated with the most sophisticated audience.
Located on Brickell Key, the exclusive island enclave developed by Swire Properties in the heart of Miami, each two-story penthouse encompasses nearly 8,000 square feet of interior living space atop the development’s 66-story South Tower. Combining the scale and privacy of a standalone estate with the service and ease of resort living, each residence features an expansive rooftop terrace integrated into its bi-level design, complete with a private lap pool, built-in bar, and panoramic views spanning Biscayne Bay, the Atlantic Ocean, and the Miami skyline.
Each penthouse includes five bedrooms, seven bathrooms, three powder rooms, and a library. Private elevators open into a grand entry foyer and expansive entertaining spaces. A gourmet Molteni&C kitchen with Gaggenau appliances is complemented by a separate chef’s kitchen. Additional features include a wine bar, sauna, staff quarters, and private storage adjacent to the residence.
“These milestone sales mark a significant moment for The Residences at Mandarin Oriental, Miami and reflect the extraordinary success the project has achieved since launch,” said Edgardo Defortuna, President and CEO of Fortune International Group. “The sale of both penthouses speaks to the strong global demand for exceptional branded residences and highlights the momentum this landmark project continues to generate, not only in Miami, but across the new construction market.”
These penthouse sales are the latest signal that affluent buyers continue to gravitate toward Miami and South Florida. In 2025, the region’s ultra-luxury segment recorded one of its strongest years ever, with closings above $10 million reaching the second-highest total on record, according to the MIAMI Association of Realtors. Early 2026 activity indicates heightened demand from buyers relocating from high-tax states such as California and New York – with these dual penthouse transactions serving as a clear indicator of that sustained momentum.
Designed by globally renowned architecture firm Kohn Pedersen Fox (KPF), The Residences at Mandarin Oriental, Miami unfolds across two distinct towers. The 66-story South Tower is dedicated to 228 private residences, while the 33-story North Tower introduces 70 private residences, 28 turnkey Hotel Collection residences, and 121 hotel guest rooms – seamlessly integrating residential ownership with Mandarin Oriental’s signature hospitality.
The South Tower’s amenities and common spaces are envisioned by acclaimed Parisian designer Tristan Auer, bringing a refined, hospitality-driven sensibility to shared environments. The North Tower’s private residences are imagined by AD100 designer Laura Gonzalez, defined by warmth, craftsmanship, and richly layered detailing. Together, the interiors reflect the project’s dual-tower composition – each with its own character, unified by a shared standard of design excellence.
Floorplans range from two- to five-bedroom residences in the South Tower, while the North Tower offers two- to four-bedroom private residences alongside turnkey Hotel Collection residences. Homes are defined by floor-to-ceiling glass sliding doors, private elevators and entry lobbies, and expansive living areas that blur the line between indoor and outdoor living – all thoughtfully oriented to capture sweeping vistas of the ocean, bay and city skyline. Kitchens feature custom Italian cabinetry, state-of-the-art appliances, and natural stone countertops, while bathrooms are appointed with marble flooring, natural stone vanities, and private water closets in each primary suite. Optional infrared saunas are available in select residences.
Seamlessly connecting the North and South Towers is a 100,000-square-foot, multi-tiered, resort-style amenity podium serviced by Mandarin Oriental Hotel Group and defined by the brand’s legendary standards. Conceptualized by Thailand-based landscape architect SHMA, the lushly landscaped podium includes an immersive forest walk woven through verdant gardens.
The amenity collection includes two state-of-the-art fitness centers, 11 resort-style pools cascading across multiple levels with private cabanas, wellness cabanas for outdoor treatments, and dining pavilions with outdoor grills. Residents also enjoy warm and cold plunge pools, curated social lounges, a business lounge with private meeting rooms and conference suite, library and coffee bar, a multi-use sports court, game room with billiards and indoor golf simulator, private screening lounge, and a dedicated children’s club. Within the hotel, residents have access to Mandarin Oriental’s award-winning signature spa, globally recognized for treatments blending ancient healing traditions with modern luxury.
Pricing for the remaining South Tower residences begins at $6.6 million, with North Tower Residences starting at $3.9 million. Fortune Development Sales is exclusively managing sales for The Residences at Mandarin Oriental, Miami.
Renderings via RMOMIA, Tower Rendering via Binyan Studios
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Miami’s Brickell Key is entering a new era with The Residences at Mandarin Oriental, Miami, an ultra-luxury development comprising private residences and a new hotel, following the successful demolition of the building that housed the city’s former Mandarin Oriental Hotel.