Swire Properties has announced the sale of the two uppermost penthouses at The Residences at Mandarin Oriental, Miami, a two-tower branded residential and hospitality development planned for Brickell Key in Miami. Each penthouse sold for $49.9 million, totaling $99.8 million across the two transactions. According to Swire Properties, the deals mark the highest-priced condominium sales recorded on mainland Miami and establish a benchmark of approximately $6,300 per square foot. The development is designed by Kohn Pedersen Fox, with Fortune Development Sales exclusively handling sales.
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
The transactions bring the project’s total sales volume to more than $1.3 billion across both towers, with more than $90 million in reported sales during February alone. Pre-development activity is said to be running ahead of schedule, with groundbreaking anticipated in late 2026.
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
“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.”
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
Located atop the planned 66-story South Tower, each bi-level penthouse contains nearly 8,000 square feet of interior space and includes a private rooftop terrace with a lap pool, bar, and views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. The residences are configured with five bedrooms, seven bathrooms, three powder rooms, and a library. Additional features include private elevator access, a Molteni&C kitchen with Gaggenau appliances, a separate chef’s kitchen, wine bar, sauna, staff quarters, and private storage.
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
“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.”
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
The Residences at Mandarin Oriental, Miami is planned as a two-tower development replacing the existing Mandarin Oriental hotel on Brickell Key. The 66-story South Tower will contain 228 private residences, while the 33-story North Tower will include 70 private residences, 28 Hotel Collection residences, and 121 hotel guest rooms. Shared amenities will span a 100,000-square-foot podium linking the two structures and will be operated by Mandarin Oriental Hotel Group.
Credit: Swire Properties/The Residences at Mandarin Oriental, Miami.
Amenities planned for the property include 11 pools, multiple fitness and wellness spaces, business lounges, meeting rooms, dining pavilions, plunge pools, a sports court, indoor golf simulator, screening lounge, children’s club, and access to Mandarin Oriental’s signature spa. Landscape design for the podium is led by SHMA. The South Tower’s amenity interiors are being designed by Tristan Auer, while the North Tower’s private residential interiors are being designed by Laura Gonzalez.
Swire states that pricing for remaining residences in the South Tower begins at $6.6 million, while North Tower residences start at $3.9 million. The project’s sales momentum comes amid continued strength in South Florida’s ultra-luxury market. The MIAMI Association of Realtors reported 361 home sales above $10 million across South Florida in 2025, the second-highest annual total on record.
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