EXCL: Inside $18 Million Miami ‘Sky Villa’ Wooing the Wealthy Away From Mansions
An extraordinary “trophy” apartment perched atop one of Miami‘s most luxurious buildings has hit the market for $17.99 million—offering one very deep-pocketed buyer the chance to enjoy the kind of lavish amenities found only in the world’s priciest megamansions, but without the demanding upkeep that is usually associated with owning a waterfront home.
Offering soaring 20-foot ceilings, sprawling living spaces, and interiors conceived by one of the top luxury hotel and resort design studios, Meyer Davis, the listing description for the six-bedroom, 6.5-bathroom unit appears almost identical to one you would see with a single-family residence.
But instead of exclusive water frontage or a private dock, the “sky villa” has another very sought-after amenity, one that listing agent Devin Kay of The Exclusive Group at Douglas Elliman tells Realtor.com® is increasingly drawing wealthy buyers away from pricey megamansions and toward high-rise buildings: convenience.
“Miami’s luxury buyer has become much more sophisticated about how they value their time,” he explains.
“There will always be demand for large waterfront estates, but we’re increasingly seeing buyers who don’t necessarily want the maintenance, staging, and security considerations that come with managing a major single-family property,” he continues.
Noting that discerning buyers will always value “extraordinary space, views, and privacy,” Kay says that the wish lists of the wealthy have long since expanded beyond those basic needs.
“They also want service and convenience,” Kay explains. “That has created a much stronger appetite for these ultralarge, highly designed residences that essentially give you a mansion in the sky with the infrastructure of a five-star hotel.”
Still, given the significant investment of a property of this scale, critics may wonder why a buyer might choose a unit over a full-on mansion. However, data indicates that a single-family home with similar amenities would likely come with a much higher price tag.
According to a Realtor.com analysis, the median listing price for condos in the top 10% of on-the-market properties in Miami-Dade County currently sits at $2.15 million—compared to $4.94 million for single-family homes in the same bracket.
And, as Kay points out, owning a luxury single-family home involves ongoing maintenance costs, including landscaping, household staff, and general upkeep.
“With a large estate, there’s landscaping, pools, security, exterior maintenance, and often a significant household staff. Here, much of that is handled for you,” he says.
There is also a significant advantage to owning a home that sits on the upper levels of a high-rise building, one that a stand-alone dwelling likely can’t ever match.
“You also have the elevation and views that even the best waterfront mansion can’t replicate,” he adds.
The demand for this type of listing clearly exists: A 10,190-square-foot West Palm Beach penthouse recently hit the market for $39.7 million—a whopping two years ahead of the building’s anticipated completion date.
This particular corner unit exists within Jade Signature, an oceanfront tower designed by Herzog and de Meuron in Sunny Isles Beach, FL.
The building offers a long list of amenities for people from all walks of life, including direct beach access, multiple pools, private cabanas, beach and pool service, a beachfront fitness center, spa, hammam, Pilates and spin studios, a yoga deck, and a concierge.
Valet parking is available, and this unit comes with four parking spots.
Residents also have access to a wine bar, a children’s playroom, a Shabbat elevator, and electric vehicle charging stations.
On top of that, the building provides access to guest suites, so residents can maintain an added level of privacy while hosting visitors.
“Jade Signature operates much more like a resort than a traditional residential building,” Kay shares. “The advantage is that you have an entire hospitality infrastructure outside your front door, while still having the privacy of your own residence.”
As for the unit itself, its interior design channels the same impressive energy visitors can expect from Meyer Davis properties around the world, which include recognizable spaces within Four Seasons, Rosewood, Auberge Resorts, and 1 Hotels properties.
“There’s a real emphasis on scale, texture, and atmosphere, from the double-height living room and floor-to-ceiling glass to the custom millwork, layered materials and beautifully defined entertaining spaces,” the listing agent describes.
The impressive floor plan that it offers rivals that of most single-family homes in the area, complete with multiple living areas, staff quarters, an intimate “midnight bar,” and an executive office.
A double-height great room serves as the centerpiece of the property, with walls of windows that flood the space with light and turn the views into a natural work of art.
The elegant kitchen features a sizable island with plenty of room for casual meals, while the formal dining room serves as an elegant option for more upscale occasions.
“At more than 6,500 square feet, it has the proportions of a substantial home, but everything feels incredibly curated and finished,” Kay explains.
The unit also includes an expansive primary suite with a sizable, well-lit walk-in closet and a private sitting room.
Multiple exterior spaces—overlooking the Atlantic Ocean, Intracoastal Waterway, and downtown Miami—add the ability to enjoy the outdoors while lounging on a balcony of your choice.
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