Sky-High Penthouse Hits the Market in Florida for $150 Million—Becoming the Most Expensive Home To Ever List in Ritzy Enclave of Bal Harbour

An extraordinary penthouse that sits high above one of Florida‘s most sought-after neighborhoods has hit the market for the staggering price of $150 million, becoming the most expensive private property to ever be listed in the tony community of Bal Harbour.

The three-story penthouse—which has yet to be built—will be located inside a dazzling new high-rise called Rivage Residences Bal Harbour. It is understood to be the first condominium development to be built in the area in more than 10 years.

When it is completed, Rivage will stand at a jaw-dropping 275 feet, with its penthouse crown jewel perched at its peak, offering unrivaled luxury to any homebuyer capable of coughing up such a hefty sum for such a lavish property.

Far from being the average condo, the Rivage properties are intended to give the illusion of an opulent single-family home, described in their listings as “villas” that feature upscale amenities rarely found in traditional apartments.

“The grand scale of these beachfront family villas—with their generous balconies, large windows and private elevators—creates discrete residences,” the Rivage website states.

“The impression is of a separate single-family home, floating in the clouds. It’s the essence of modern living: open, expansive, airy and filled with light. For those who are modern by nature, this is the life.”

Each floor of the building has a maximum of three units, with each unit boasting incredible views of the ocean. However, the penthouse, which is described as a “mansion in the sky,” features panoramic vistas from each of its three floors.

As first reported by Robb Report, the penthouse will offer 35,000 square feet of living space, including 10,000 square feet of outdoor space, eight bedrooms, 10 bathrooms, and an entire service suite for staff.

Clearly designed for grand-scale entertaining, the penthouse includes a screening room, media room, cigar lounge, and wine cellar.

Among the jaw-dropping features of the home are the dual swimming pools, which bookend the penthouse—designed for pool guests to enjoy views of the sunrise and the sunset. Each pool has its own spa, cold plunge, and summer kitchen.

The primary suite features an incredible wall of windows that look out over the water, as well as dual dressing rooms, a private gym, two bathrooms, and an office.

Perched atop the lavish residence is a private sky lounge with 360-degree views of the ocean and the surrounding area, providing yet another luxurious area to relax in high style.

Penthouse residents will have a private garage inside the building, as well as a storage area.

And while all of those amenities mean a resident might never need to leave their home, should they want to seek out even more entertainment, they won’t have to look farther than the building’s many other amenities.

Rivage, which will house just 56 units across 25 stories, is set to offer residents access to a number of top-of-the-line amenities, including a golf simulator, fitness studios, a spa, pickleball and padel courts, a theater, and a library.

It will also offer two pool decks—situated for sunrise and sunset views—as well as a beach club and 200 feet of private beach.

Each residence will have private elevator access to ensure maximum security and discretion.

“Rivage Bal Harbour makes resort living possible every day: a private beach with a limited number of expansive residences enhanced by all the amenities and services of the world’s finest hotels,” the website states. “It’s like being on a never-ending vacation—because you’re already home.”

The property enjoys close proximity to Bal Harbour’s many attractions, with the Rivage website calling attention to the area’s elite status among South Florida’s most high-end communities.

“Since its inception in 1929, Bal Harbour has been an elite enclave on the tiny tip of this barrier island,” it states.
”It is unquestionably the most sophisticated and culturally rich embodiment of South Florida’s glamorous lifestyle.

“This unparalleled location offers both a sense of privacy and convenient access to entertainment, dining, shopping, transportation and recreation.”

Bal Harbour is home to a number of luxurious properties. However, the $150 million Rivage penthouse easily tops the list of priciest homes in the area by more than double, as the next most expensive dwelling currently on the market is for $66 million, according to Realtor.com® data.

However, South Florida is no stranger to listings that top the $100 million mark—with five homes on the state’s Gold Coast currently on the market for between $135 million and $285 million.

In recent years, the Sunshine State has seen an influx of wealthy residents looking to take advantage of the region’s balmy weather and lack of income tax.

Earlier this year, local real estate agent Ana Bozovic told Realtor.com how a “supercharged southern migration” of New Yorkers moving to Florida had helped to drive prices up in and around Palm Beach, where many wealthy homebuyers were choosing to base themselves.

“It’s a wealth migration from New York City,” Bozovic, a Miami-based real estate agent and founder of Analytics Miami, explained.

Home list prices peaked in Palm Beach County in May 2022, hitting an all-time high of $349 per square foot. Miami-Dade prices peaked at a record high of $564 per square foot in June 2023.

While prices have steadily decreased since then, the area is still vastly more expensive than it was before the COVID-19 pandemic, and properties with nine-figure asking prices continue to hit the market.