Construction is set to begin in a few months. The oceanfront condo development has a planned completion date of 2014. The luxury residences will be located on Indian Creek, just minutes away from Bal Harbour and South Beach.

Located on the Intracoastal, Peloro will be seven stories high, with two and three bedroom units, a penthouse and a 2-story townhouse. The condominiums will range in size from 635 to 2,268 square feet.

Source: The Real Deal

Peloro, Luxury Waterfront Condo Tower in Miami

The Setai, an exclusive oceanfront condo tower in South Beach, just hit the highest price for a penthouse unit at $27 million. The price tag is the highest ever for a condominium in South Florida, according to real estate records. Located on the 40^th floor, with 4 bedrooms, 4.5 bathrooms and 7100 square feet of luxury living space, this penthouse is an undeniably spectacular residence.

The Setai, is a trendy building, featuring 175 residences with floor-to-ceiling glass windows. Residents enjoy panoramic views of the beach, the ocean and Miami.

A close runner up, an oceanfront penthouse located in the Continuum sold for $25 million. The Continuum is also located in South Beach.

The Setai South Beach

This past August, Miami Beach’s Canyon Ranch Living sold eight penthouses within two hours of being on the market, due to a preexisting waiting list. At this time, there are a small number of penthouses, townhouses and 2-bedroom residences available for purchase.

Canyon Ranch Living consists of three beautiful, glass towers. The original tower, Canyon Ranch Living Carillon Hotel, contains the world-renowned spa and wellness center.

Residents in the luxury oceanfront condominiums are spoiled with sprawling ocean views and access to a lavish 60,000-square-foot rooftop spa and fitness center.

The signature spa club located at Canyon Ranch Living offers residents and guests relaxing massages, facials and additional spa treatments tailored to their needs.

Canyon Ranch Living

5 Oceanfront Condominiums Currently Under Construction in Miami:

1. 4001 North Ocean Condominium-Luxury oceanfront condominiums located at 4001 North Ocean Boulevard, Gulf Stream, Florida, featuring a beautiful oceanfront pool and luxurious spa.
2. Bellini-Located at 4100 Williams Island Boulevard, Aventura, Florida. There are 70 spacious residences throughout the building. 24 floors, with only 4 units per floor.
3. Regalia-Luxurious oceanfront property located at 19505 Collins Avenue in Sunny Isles Beach. The building is set right by some of the best shopping and nightlife South Florida has to offer. This unique building has 39 residences, with only one unit per floor.
4. Mansions at Acqualina- A luxury oceanfront condo tower located at 17749 Collins Avenue in Sunny Isles Beach. These ultra-exclusive condos offer spectacular views and unique floor plans.
5. Chateau Beach-A unique luxury oceanfront condo building located at 17475 Collins Avenue in booming Sunny Isles Beach. This elegant building offers units ranging from 1,500 to 5,000 square feet.

After purchasing the lavish mansion, they put a further $11 million into the home. It consists of 12,000 square feet of living space, seven bedrooms, nine and half baths and 1.21 acres of land. The exquisite Miami Beach estate also features koi ponds, beautiful gardens and a large pool.

In 2010, they put the house back on the market unsuccessfully for $28 million.

Gainor has now put the luxury oceanfront estate on the market for $40 million, hoping to ride the new real estate buying wave.

Source: Miami New Times

Jennifer Lopez’s Former Miami Beach Estate