Splashy Miami penthouse lands contract for $68.3M

A full-floor penthouse at Rivage Bal Harbour (by Related Group, Two Roads Development and Rockpoint) is in contract for $68.3 million in an all-cash deal. (More than $250 million in contracts have been signed for the building in the past 100 days.)

With this deal, two of the building’s three penthouses have now found buyers. The seven-bedroom, seven-and-a-half-bath unit is around 12,500 square feet and features nearly 1,400 square feet of outdoor space with Atlantic Ocean and Biscayne Bay views.

A private elevator opens to a large great room with floor-to-ceiling windows and 10-foot-high ceilings.

The home is fully customizable; planned design features include hardwood floors, a chef’s kitchen and a large main bedroom suite encompassing a spa-like bath and a large dressing room with oak millwork and leather-lined drawers.

The posh pad also includes a private, temperature-controlled, two-car garage.

The building sits on 200 feet of oceanfront between the Intracoastal Waterway and the ocean.

Its amenities include a gym with beach access; a hammam spa with hot and cold plunge pools, as well as treatment rooms; pickleball and paddle courts; a cocktail lounge; a VR simulator; and a children’s playroom, alongside 24-hour butler and concierge services.

Move-ins are slated for next year, with building completion in 2027.

Ethan and Ruthie Assouline of Douglas Elliman represented the buyers. The purchase and others like it show “sustained demand for residences that live like true oceanfront homes,” Ruthie says.

Ethan adds that the building’s buyers hail from around the world, attracted to Rivage’s “large-scale layouts and boutique privacy.”