The contract price is set the day you sign. The bank sets its own number the month you close. At The Ritz-Carlton Residences, South Beach, here is what happens when the two disagree.
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A pre-construction price is agreed at contract and paid at delivery, often years later. Near closing the lender has the residence appraised and lends a share of the lower of the price and the appraised value. When the appraisal comes in under the price, the buyer funds the difference in cash.
The Ritz-Carlton Residences, South Beach: 30 residences over 15 storeys, one to five bedrooms, including two duplex penthouses with private rooftop terraces, pools and kitchens; sales launched February 2025; delivery planned 2027.
Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
An appraiser works from closed sales. A new tower has none of its own until the first residences close, so early valuations lean on neighbours that may be older or unbranded. A brand or a view premium needs evidence the appraiser accepts. Upgrades bought from the developer may add less to the valuation than they cost.
The Ritz-Carlton Residences, South Beach: The Ritz-Carlton name under licence to Sobe Sky Development LLC; not owned, developed or sold by The Ritz-Carlton Hotel Company; direct access to the Sagamore, the all suite addition to The Ritz-Carlton, South Beach; owner benefits at more than 700 Marriott International luxury hotels, subject to availability.
Most Florida pre-construction contracts carry no appraisal or financing contingency, so a low valuation neither releases the buyer nor lowers the price. The usual answers are a larger down payment, a second appraisal where the lender allows it, or another lender.
How much cash could you add at closing if the valuation came in short? Which lenders have already valued residences here or next door? What does the contract say about closing on the date whatever the loan does? The desk reads the contract with you and introduces a lender for the rest.
The Ritz-Carlton Residences, South Beach: The deposit schedule is held by the desk and read with you before contract.
Plan the closing as if the appraisal will be short. If it is not, the reserve stays yours.
Developer materials for The Ritz-Carlton Residences, South Beach as carried on the live dossier, verified September 2026. Compiled by the desk at Miami Dossier; figures are approximate and the developer’s.
Contact the desk at Miami Dossier for the documents behind this note, read one to one with you and your advisers.
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We hold no listings and we are not the developer. Contact the desk at Miami Dossier and we will tell you what applies to your situation, what does not, and where we would not proceed. On this topic that means the document before the opinion. Where a question is legal, tax or structuring, we introduce you to advisers who handle that properly rather than answering it ourselves.
Samuel Strauch is the owner of Metrik Real Estate. His team of agents represents buyers in Miami pre-construction.
A person replies within 24 hours, usually much sooner. On weekends, back on Monday morning.
