For the household leaving the Peninsula after a liquidity event, who wants the ocean rather than the city and the building that a family with children, staff and a long California tax history can actually live in.
This page explains. Whether the building suits you is a separate conversation. Contact the desk at Miami Dossier for the current position on any building we cover.
On the published record, the Perigon is the Miami Beach building a Peninsula household reads first for a full life on the sand: ~73 homes of two to four bedrooms with private elevator entry, a resident only restaurant, a children's lounge and no hotel, From $12,500,000. Rivage Bal Harbour is the house sized answer, 3 to 6 bedrooms of ~3,300 to ~12,600 square feet on the last oceanfront parcel in the village, From $14,100,000. Ocean House Surfside is 25 homes drawn for a household with staff, with no published price. The Shoreclub Private Collection, From $4,850,000, and Ocean Terrace, From $3,250,000, add a hotel to the building and a lower published entry. The move is from a house with a garden to a floor with an ocean, and the buildings differ on how much of the house they give back.
Five axes, from the developers' published material only.
The Perigon. Price point: From $12,500,000. Delivery: no date on our file. Unit mix: ~73 homes, 2 to 4 bedrooms, private elevator entry, 10 foot ceilings, wraparound terraces. Position: 5333 Collins Avenue, ~200 linear feet of shoreline on both sides, equidistant from Bal Harbour and South Beach by the developer's description. Operator or brand: no hotel; Starwood Capital Group and Mast Capital; OMA; a children's lounge, a spa, a beachfront pool with cabanas.
Rivage Bal Harbour. Price point: From $14,100,000. Delivery: no date on our file. Unit mix: ~56 homes across 25 stories, 3 to 6 bedrooms, ~3,300 to ~12,600 square feet. Position: ~2.7 oceanfront acres, ~200 linear feet of private shoreline. Operator or brand: no hotel; Related Group and Two Roads Development; house cars, private marina services, spa and hammam.
Ocean House Surfside. Price point: no published entry price. Delivery: no date on the fact sheet. Unit mix: 25 residences of two to five bedrooms, private elevators with dedicated lobbies, balconies up to 12 feet deep. Position: 9309 to 9317 Collins Avenue, on the ocean between Bal Harbour and Miami Beach. Operator or brand: no hotel; MTP Oceanside LLC; staff quarters with a service kitchen, a private garage for six cars, a 24 hour valet.
The Shoreclub Private Collection. Price point: From $4,850,000. Delivery: no date on our file. Unit mix: ~49 homes in three forms, 18 stories behind the landmarked Cromwell House facade. Position: 1901 Collins Avenue, ~3 oceanfront acres. Operator or brand: Witkoff with Auberge Resorts Collection; a children's playroom, a private meeting suite, a beach club.
Ocean Terrace. Price point: From $3,250,000. Delivery: no date on our file. Unit mix: ~52 boutique residences in a 20 story tower, ~24 furnished resort residences in the other. Position: 7400 Ocean Terrace, North Beach, ~350 feet of ocean frontage on ~5 acres of parkland. Operator or brand: Witkoff and Ocean Terrace Holdings; a 42 key hotel, a members' club.
Read relocating from San Francisco to Edgewater or Brickell, relocating from Silicon Valley to Coconut Grove or Coral Gables and relocating from Los Angeles to Bal Harbour or Surfside.
A Peninsula house usually means a garden, a garage and a guest house, and the five buildings give those back in different amounts. Ocean House is the closest to a house: 25 homes, staff quarters with a service kitchen, a six car garage, private elevator lobbies, balconies up to 12 feet deep. Rivage gives back the scale, up to ~12,600 square feet, and the private shoreline. The Perigon gives back a children's lounge and a private elevator to every home. Shore Club gives back a children's playroom and a hotel's hours; Ocean Terrace gives back five acres of park at the door. What none of them gives back is a yard to build in, and the household that used the garage for a workshop reads the storage and parking rows first. Read new condos that live like a house, which Miami Beach condo suits a multigenerational family and the Ocean House buyer's guide.
Mechanics, and the sequence matters more than the amount. A household whose wealth is in one company's shares has three ways to pay for a From $12,500,000 home: sell shares and pay the tax, borrow against the shares and keep them, or finance the home itself, which lenders treat differently for a building with a hotel in it. Each path has a paper trail the developer's escrow agent and the closing agent will ask for under source of funds rules, and a foreign or recently relocated buyer is asked for more. The deposit schedule sets when each tranche has to be liquid, and a line against shares that is called during construction is a risk the buyer prices before signing. None of that is advice; it is a conversation to have with the wealth adviser and counsel before the reservation, because the reservation starts the clock. Read buying a Miami condo after a liquidity event, buying a Miami condo without selling your shares and source of funds documentation.
Three, as mechanics. California taxes residents on worldwide income, including the gain on shares sold after a move if the state can show the household was still resident, so the record of the move, the days, the home, the family, the professionals, is built on purpose and kept. Florida's homestead follows a primary residence the owner lives in on the first of January and is claimed on the county's calendar, so a building without a delivery date on our file, which is all five, sets that first year by its contract's outside date rather than by a brochure. And the papers that make the move visible, the declaration of domicile, the driver's licence, the voter registration, are filed in an order counsel sets. A household that keeps the Peninsula house for the school year asks what that does to all three. Read moving from California to Miami and changing domicile, does buying a Miami condo make you a Florida resident and why property tax resets when you buy a Miami condo.
The Perigon suits the family that wants the sand, a private elevator and a resident only restaurant with no hotel, From $12,500,000. You give up a hotel's hours and a date on paper. Read the Perigon dossier and the Mid-Beach zone page.
Rivage suits the household that wants a house's scale on the last private shoreline in Bal Harbour, From $14,100,000; Ocean House suits the household that arrives with staff and six cars, with no published entry price. You give up a published lower entry at both. Read the Rivage dossier and the Bal Harbour and Surfside zone page.
Shore Club and Ocean Terrace suit the household that wants a hotel in the building and a lower published entry, From $4,850,000 and From $3,250,000. You give up a lobby of your own. Read the Shore Club dossier, the Ocean Terrace dossier and the South Beach zone page.
The desk reads the deposit schedule against the funding plan and the outside date against the homestead calendar with the buyer before the reservation.
Contact the desk at Miami Dossier for the current plans, pricing and availability as the developer releases them, discussed one to one.
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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. 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.
