Two-Story Penthouse in Bay Harbor Islands Nets Nearly $10 Million

Sales are already heating up for Onda Residences, slated to open in 2023

The recent trend of out-town-buyers soaking up coveted Miami real estate shows no signs of stoppage after a buyer from Louisville, Kentucky spent $9.5 million on a penthouse at Onda Residences in the exclusive neighborhood of Bay Harbor Islands

“Bay Harbor is like an undiscovered jewel in Miami. It’s a little island community that’s in the middle of everything with fantastic water views and just a few steps away from Bal Harbour Shops,” says Ugo Colombo, Founder of CMC Group, which is developing the luxury building in partnership with Morabito Properties. “With Onda, we set out to create an ultra-luxurious intimate building with a handful of units and a handful of residents in one of the nicest waterfront communities in South Florida.”

Construction for the 41-unit development is expected to begin later in 2021 and the developers report that sales began in March and are nearly 40% sold mainly from the domestic market. Unit prices for the eight-story development range from $1.8 million to over $9.5 for the property, located just west of Bal Harbour Shops. It will offer two to four-bedroom layouts providing 1,809 to 3,525 square feet of living space. Two of the four penthouse residences will feature private rooftop pool decks and up to 5,073 square feet.

Along with luxury amenities, the location features access to the Haulover inlet, a private marina and vast views of Biscayne Bay and the Atlantic Ocean. All units in the building will include an office/den, private and semi-private high-speed elevators, floor-to-ceiling impact-resistant sliding glass doors and windows, spacious tiled terraces with private gardens and open floor layouts with up to 9-foot ceilings.

“Our vision for Onda was to create a boutique-style building that felt like you were living in a private waterfront home with all the amenities and conveniences of a luxury condominium,” says Valerio Morabito, CEO of Morabito Properties. “Our residences boast oversized floorplans and an abundance of outdoor space. With its own rooftop pool deck and direct water views overlooking Biscayne Bay and the Atlantic Ocean, the sale of our signature penthouse speaks to its unique caliber in the Miami market.”

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SFBW Staff
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