Florida's tallest tower is 85% sold, buyers come from more than 30 countries, and the final release is two sky penthouses. New luxury construction and resale condos are now two different markets.
Cipriani Residences Miami reached its full height of approximately 950 feet in July, PROFILEmiami reported on July 23. The 85-story tower at 1420 South Miami Avenue in the Brickell Financial District is now more than 80% sold, with 397 residences priced from $1.8 million and the Canaletto Collection starting at $4.1 million. Occupancy is anticipated for summer 2027.
On September 10 the developer released the tower's final two residences, named for the year Giuseppe Cipriani opened Harry's Bar in Venice, per Haute Living and PROFILEmiami. The San Marco is listed at $33 million: a three-level, 9,677-square-foot sky estate with a 24-foot great room and a private rooftop with its own infinity pool, cold plunge, hot tub and putting green. The Torcello is listed at $19.8 million and spans 6,703 square feet with a private screening room, wine storage and a bar built for after-dark entertaining. Haute Living puts the tower at 85% sold ahead of summer 2027 occupancy.
Mast Capital, led by founder and CEO Camilo Miguel Jr., is the developer. Arquitectonica designed the tower and 1508 London the interiors, with more than 50,000 square feet of private amenities. The structure passed 872 feet in April before topping off. The July top-off release said “more than 80%” sold; the September 10 penthouse release and MIAMI REALTORS' September 9 roundup both say 85%.
In the same quarter the countywide condo median fell to $400,000 and resale condos stretched to 125 days on market, a 397-unit tower priced from $1.8 million sold 85% of its units to buyers from 30 countries and is now asking roughly $3,400 a square foot for its top penthouse. That is not a contradiction. It is proof that Miami's condo market has split by product and price tier: new, branded, amenity-heavy towers with global buyers on one side, and older resale buildings carrying inspection and reserve questions on the other. If you are buying, decide which market you want to be in before you compare prices per square foot, because they are not comparable. If you are selling a resale unit in Brickell, this tower is your competition for the international buyer, and your building's financials are the only thing that competes with it.
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The agencies retired the easy review paths and raised the reserve floor from 10 percent to 15 percent of budgeted assessments. In a county with roughly 12 months of condo supply, that decides which buildings a conventional buyer can even bid on.
152 fully furnished residences at 94 NE 29th Street, priced from $550,000 to $2.4 million, with completion anticipated in the second half of 2027. This is the attainable end of Miami's new-construction pipeline.
The 10,012-square-foot Charles Penthouse went under contract to a New York family relocating to South Florida, bringing the Brickell Avenue tower to roughly $900 million in sales.