An unfinished penthouse is under contract for $8.6 million, or $1,162 per square foot, making it one of the most expensive pre-construction sales in Miami’s East Edgewater neighborhood, according to the developer. Located in the 52-story condominium tower known as Biscayne Beach, the residence will be one of six two-story penthouses in the building. At more than 11,800 square feet, the unit will feature six bedrooms, a study and a private rooftop terrace with an outdoor kitchen and a swimming pool. Completion is expected in late 2016.
Related: South Florida's Not Quite Penthouses We previously highlighted these “Sandcastles in the Sky” in a feature exploring the names given to upper floor residences by Miami developers. Only two of these duplex properties remain on the market, according to a spokeswoman for Biscayne Beach. East Edgewater has seen an increase in luxury development in recent months. Pre-construction sales for the Elysee Residences were announced in August. The tower is set to become the tallest condominium in the neighborhood.
Read More: Miami Developers Bank on a Lot of Hot Air Write to Gina Faridniya at gina.faridniya@dowjones.com