Miami Penthouses

Miami Penthouse Faqs

What Is a Penthouse?

A penthouse is the most luxurious unit at the top of a condo or apartment building. It has private facilities and amenities that are only available to that unit. In comparison, the other units in the building will only have access to shared amenities. Fantastic private lifestyle boosters like spacious balconies, infinity pools, and the most breathtaking views are all part of penthouse living.

Often a penthouse will have direct, private access to the elevator as it will open directly into the penthouse. The exclusivity, luxury, and privacy of a penthouse are highly desirable. The opulent lifestyle possible with private beach access, high ceilings, spacious living areas, and extra bedrooms and ensuite bathrooms makes penthouse living a dream.

Why Aren't There More Miami Penthouses for Sale?

The iconic lifestyle and views that Miami penthouses provide means they are in very high demand. Known around the world for their gorgeous views and ultimate luxury, penthouses in Miami Beach, South Beach, and the greater Miami area get snapped up very quickly by those eager to enjoy exclusive oceanview living. Great locations near all the entertainment hotspots, fantastic private amenities, and high-end buildings attract the attention of many celebrities and wealthy individuals who don't typically need to sell their real estate, so they keep these property gems as lifestyle investments for very long periods of time.

Private sales are also very common, with about 90% of all Miami penthouses being sold privately and not ever going public. This extremely tight market means that luxury real estate agents often make private sales that keep the name of the owner and property address confidential. Choosing to deal with real estate agents who are not familiar with the luxury real estate market will lead to very few penthouse options in a market that has tight competition. PropertiesMiami has extensive experience in this area with highly skilled agents able to navigate this challenging penthouse market.

Are Association Fees Higher for Penthouse Units?

In short, yes. Because monthly association fees are generally based on the square footage of a condo, the spaciousness of a penthouse does mean that the association fees are higher. The association fee is also based on other factors, but the key point that guarantees a higher fee for a penthouse unit is that a penthouse will always have more square footage and more private facilities than any other building unit. Because of this, a penthouse will always have the highest association fees of any unit in a building.

Some associations choose to set a fixed price for the monthly association fee and ignore the difference in square feet between different units. The association fee for the penthouse will still be higher in this case. Because each association can choose how to structure its fees, it's important to ask about this structure to understand why the penthouse fees will be more than the other units.

Do Tenants Pay the Monthly Association Fee of a Penthouse?

In Miami, it is required for the owner of any unit, even a penthouse unit, to pay the association fee. There are some circumstances where a written agreement is made between the owner and tenant of a penthouse. This special written agreement states that the tenant will pay the monthly association fee. If this written agreement is not clearly stated and included in the rental contract, the monthly association fee is still the owner's responsibility, who must then pay it.

What's a Miami Luxury Penthouse Unit?

One of the best things about Miami penthouses is that they are all unique - none of them are designed to be the same, which provides great value to every penthouse. It also means it can be a little tricky to define penthouses. At PropertiesMiami, our top agents define a luxury penthouse as a full-floor structure with a minimum of 2000 square feet and a high ceiling for maximum spaciousness. It must be ocean-facing in Miami Beach or South Beach for a stunning ocean view with an infinity pool to immerse yourself into the view.

Private access to the elevator is a must-have for luxury penthouse unit status too. The building also needs to offer the right amenities such as private restaurants, private lounges, an entertainment room, excellent building security, a luscious spa, a fitness center, and private beach access.

How Much Does a Penthouse Cost in Miami

An affordable penthouse costs between 1 to 2.5 million in Miami, Miami Beach, and South Beach. A luxury penthouse in Miami will always cost over 5 million, with the average luxury penthouse being sold for about 6 to 7 million dollars. No two penthouses are the same, though, so if you would like to learn more about this, feel free to get in touch with a member of the PropertiesMiami team today.

Which Miami Buildings Have the Best Penthouses?

According to a survey in 2021, out of the 200 buildings in Miami offering penthouses, the absolute favorites are Continuum on South Beach, 57 Ocean, Faena House, Porsche Building, One Ocean, and Trump Towers. To help you with choosing the ultimate penthouse of your dreams from so many excellent choices, consult with one of our luxury real estate agents at PropertiesMiami to help make your vision of luxury Miami living a reality quickly and seamlessly.

What Are the Requirements for Scheduling a Showing of a Miami Penthouse?

Getting to view an exclusive property has a specialized process that one of our luxury real estate agents will support you through. To visit a penthouse, some information is required to assure the sellers that the showing request is genuine and can soon result in a purchase offer. The information needed can be submitted to our real estate agent who is assisting you. This agent will communicate the information to the seller and clarify whether you meet their requirements.

If the seller is satisfied, they will grant permission for the showing, and our expert luxury estate agent will organize a suitable time for you to view the penthouse. Because this process can take some time, get in touch with us soon to set the process of getting you the ultimate penthouse in motion.

Which Real Estate Company Is Best for Me if I Want to Buy a Penthouse?

PropertiesMiami is a real estate agency whose agents are well connected with local expertise. Our luxury real estate agents are especially knowledgeable and skilled in the area of luxury Miami property. PropertiesMiami's professional and highly skilled real estate agents will help you find your perfect penthouse, negotiate the best price and securely handle the sale for a seamless transition of ownership, whether it's through a third party or our own title company.

Which Real Estate Agency Should I Use to Rent a Miami Penthouse?

With our extensive skills in luxury Miami property, PropertiesMiami is the best agency for penthouse rentals and sales. Whether you need a short-term or long-term rental agreement, our expert real estate agents will assist you in choosing from a wide range of penthouse rental options, organize viewing dates of your ideal penthouses and assist you in successfully signing up for a superb Miami lifestyle in your penthouse rental.