A unit at the Ritz-Carlton Residences South Beach went under contract at $10.5 million, leading all condo deals in Miami-Dade County's luxury market for the week ending Sunday, Sept. 6.

Details of the record-setting unit

Unit 11B at 1671 Collins Ave. in Miami Beach is a 3,000-square-foot residence with three bedrooms, three bathrooms, a half bath, a 912-square-foot terrace and a separate private terrace, The Real Deal reported. The asking price works out to $3,000 per square foot. Fredrik Eklund and Pietro Belmonte of Douglas Elliman listed the unit.

Weekly totals across Miami-Dade's luxury market

The contract was part of a week in which buyers signed 11 deals for properties asking $4 million or more across Miami-Dade, according to Douglas Elliman's Eklund-Gomes Team weekly tracker. Those contracts carried a combined asking volume of $79.8 million. Properties averaged 142 days on the market.

The week ending Aug. 30 logged 12 contracts totaling $83.4 million.

Condo and single-family contracts compared

Six of the week's deals were condos, totaling $39 million in asking volume. The average condo contract came in at $6.5 million, or $2,200 per square foot. Condos averaged 165 days on the market. Five single-family home contracts totaled $40.8 million, with an average price of $8.2 million. Single-family homes moved faster, averaging 115 days on the market.

Golden Beach mansion was the week's priciest deal

The week's priciest contract overall was a $16.9 million mansion at 342 South Parkway in Golden Beach. The 5,660-square-foot home, built in 2024, was listed by Jonathan Mann of Coldwell Banker Realty.

Ritz-Carlton tower remains under construction

The Ritz-Carlton Residences South Beach tower, designed by Miami-based architect Kobi Karp, is still under construction. Completion is expected in about two years, according to The Real Deal. The 15-story building will have 30 oceanfront residences with one- to five-bedroom floorplans and 50,000 square feet of amenities, including a dining experience from Michelin-starred chef José Andrés.

"The deals on the sand are getting bigger and bigger," Eklund said in a February Realtor.com feature about the project. The building also lists a $125 million penthouse combining two duplex units with private rooftop pools.

Starting prices and planned beachwalk

Prices at the Ritz-Carlton Residences start at $4.25 million, according to a December 2025 New York Post report. The project includes a $12 million private-public beachwalk designed to extend Lincoln Road to the ocean for the first time.