Sobe Sky Development, a partnership between Flag Luxury Group, Ben-Josef Group (BJGH), and Lionstone Development, has secured a $61.2 million predevelopment loan from BHI, the U.S. division of Bank Hapoalim, to advance The Ritz-Carlton Residences, South Beach. The financing marks a significant step forward for the ultra-luxury development, which will bring 30 custom-designed beach houses in a new tower overlooking the Atlantic Ocean and Miami Beach.
Credit: Sobe Sky Development.
“Securing this financing reflects both the confidence in our vision and the appetite for best-in-class residential product in South Beach,” said Ronny Ben-Josef, co-owner of The Ritz-Carlton, South Beach. “We’re proud to advance a project that will deliver timeless design, unmatched Ritz-Carlton service, and an irreplaceable location at the crossroads of the ocean and Lincoln Road.”
Credit: Sobe Sky Development.
Residences are designed to maximize sweeping views with floor-to-ceiling windows, 10-foot ceiling heights, and expansive wrap-around terraces. Interiors by Alessandro Munge of Studio Munge feature luminous natural stone finishes, bespoke cabinetry, and refined contemporary detailing. Kobi Karp Architecture is the architect, and Naturalficial is serving as landscape designer, creating a seamless transition between indoor and outdoor living. More than 50,000 square feet of amenities are planned, including a private rooftop pool and cabanas, a state-of-the-art fitness center, a screening room, and exclusive culinary offerings curated by Michelin-starred chef José Andrés. Residents will also receive access to services at The Ritz-Carlton, South Beach and the adjacent Sagamore Hotel, which is slated for renovation.
Credit: Sobe Sky Development.
The project anchors the eastern end of Lincoln Road and is positioned at the center of Miami Beach’s ongoing revitalization. Sobe Sky Development has received approval from the Miami Beach City Commission for a $12 million public-private initiative to redesign the 100–300 blocks of Lincoln Road and the Beachwalk entrance. Plans include new landscaping by Naturalficial, reconfigured streetscapes to improve safety and circulation, curated public art, and a Morris Lapidus-inspired gateway monument envisioned to extend Lincoln Road from “bay to sea.” Separately, the City of Miami Beach has committed nearly $30 million toward improvements to the promenade, including expanded cultural programming and enhanced pedestrian-friendly design.
Pricing for The Ritz-Carlton Residences, South Beach begins at approximately $4.3 million. Douglas Elliman Development Marketing is handling sales and marketing, led by The Eklund | Gomes Team.
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When is Miami proper going to get a Ritz-Carlton Residences? A supertall by RAMSA in the style of Freedom Tower would look amazing, far better than Waldorf-Astoria Residences’ sad excuse of architecture.
Good 👍 job
Nice work
It’s going to be better