MICL and Admire Capital Log First Sale at Ritz-Carlton Residences, Fort Lauderdale Beach With Off-Market Penthouse

MICL and Admire Capital have recorded the first sale at The Ritz-Carlton Residences, Fort Lauderdale Beach, and it is a penthouse that had not yet been formally released.

The buyers asked for a penthouse before the collection went to market, and the developers agreed to sell Penthouse A early, according to Admire Capital founder and CEO Diana Ulis. No sale price has been disclosed. Residences in the 83-home project are priced from $3.4 million.

Penthouse A sits on Level 13 and spans two floors. The lower level has three bedrooms, a den, three bathrooms and a powder room in about 3,085 square feet, with a 643-square-foot terrace. The upper level adds 316 square feet inside and a 3,265-square-foot terrace with a private plunge pool and summer kitchen. Combined, that is 3,401 square feet of interior space and about 3,908 square feet outdoors, with ceilings of up to 11 feet and views toward the Atlantic and the Intracoastal.

"Seeing a penthouse become the first residence sold so soon after launching sales was an important early milestone for The Ritz-Carlton Residences, Fort Lauderdale Beach and an affirmation of the vision we've had for this project from the very beginning," Ulis said.

The dual-tower project is planned at 551 Bayshore Drive along about 400 linear feet of Intracoastal frontage. Garcia Stromberg is the architect and New York-based Dan Fink Studio is handling interiors. PMG is the development manager. Homes run from about 1,550 to 3,480 square feet in two- and three-bedroom plus den layouts, including villas and penthouses. Most residences are entered through a private elevator vestibule.

Amenity plans include a 75-foot lap pool that extends over the Intracoastal, a leisure pool with cabanas, a spa program the developers call Invisible Wellness (cleaner air, filtered water and healthier materials inside each home, plus a hammam, ice therapy, plunge pool, steam and sauna), a TechnoGym fitness center and yoga studio, a residents' lounge, a screening room, a sport simulator, a children's playroom and limited private dock slips. Owners can join Marriott's ONVIA program, which includes Marriott Bonvoy Platinum Elite status for one owner per unit. The residences are not owned, developed or sold by Marriott International; the developer uses The Ritz-Carlton marks under license.

Groundbreaking is targeted for the first quarter of 2027, with completion expected in 2029. Douglas Elliman Development Marketing is running sales. The sales gallery is open at 505 N Fort Lauderdale Beach Blvd., Suite CU-7.