Commercial real estate tower in Miami exudes luxury

Commercial real estate tower in Miami exudes luxury

Miami, Florida, has certainly been picking up steam in the world of real estate recently. As evidence of that fact, one of the latest commercial real estate developments to generate buzz worldwide is Miami's REGALIA Tower. It is a residential tower featuring 46 stories and located on an oceanfront parcel on Sunny Isles Beach.

The REGALIA Tower has a total of 39 residences, including a penthouse and a beach house. The building stands out because it features a shape inspired by ocean waves. The tower also includes wrap-around terraces, as well as flowing glass balconies, private elevators and designer cabinets from Italy.

Residents in the tower can also benefit from its high-quality fitness center, a security system that is custom-designed and a top-rated international concierge. Poolside and exclusive beach service is also a perk. The private units, featuring five bathrooms and four bedrooms, cost at least $15 million. Meanwhile, the beach house of more than 9,000 square feet costs $30 million, while the penthouse residence of more than 10,000 square feet is listed for $40 million. The tower, which was completed in 2013, has only a few unsold units remaining.

Investors and developers may be particularly interested in the booming residential market in Miami and other parts of Florida, especially where the commercial real estate market is also strong. However, the process of negotiating and structuring a deal can be complicated, and a seemingly minor error can end up being costly and leading to unintended consequences. Proper legal guidance can help people to successfully complete their commercial real estate deals with as little risk as possible.

Source: designntrend.com, "REGALIA Tower -- Inside Multimillion Dollar Luxury Residential Building With Oceanfront Location in Sunny Isles Beach", Meg Busacca, April 9, 2015