Highest-Priced Miami Pre-Construction Condos: Rivage Bal Harbour

Bal Harbour is a small oceanfront village with little room for new towers. When Rivage Bal Harbour launched sales in January 2023, Bisnow reported that it was the first new condo project in Bal Harbour since 2016. It is now rising at 10245 Collins Avenue, on the site of the former Carlton Terrace condominium.

The design architect is Skidmore, Owings & Merrill (SOM), best known for supertalls such as the Burj Khalifa and One World Trade Center. Rottet Studio designed the interiors and Enea Garden Design handles the landscape. The developer's fact sheet lists 56 residences with three to six bedrooms, from about 3,300 to 12,600 square feet. Prices started from $8 million at the 2023 launch, and a five-bedroom penthouse was unveiled at $75 million in July 2026.

As of October 2026, the developer's website describes the tower as under construction. Construction began in September 2024 with Miami Coastal Construction as general contractor, and delivery is targeted for 2027.

This profile is part of our highest-priced Miami pre-construction condo series.

The Quick Take

View the Rivage Bal Harbour building page · Browse all Bal Harbour condos for sale · Bal Harbour neighborhood guide

Project Timeline

The plan changed after launch. The 2023 coverage described 24 stories and 61 residences. The developer's current materials describe 25 stories and 56 residences, which is what we use here. SOM's own project page still lists 24 stories.

Why It Sits Near the Top of the Market

Three things put Rivage in the trophy conversation:

1. Bal Harbour scarcity. The village is a small oceanfront enclave anchored by Bal Harbour Shops, and new condo launches there are rare. Rivage was the first new condo project in Bal Harbour since 2016 when it launched.
2. SOM design. The firm behind the Burj Khalifa and One World Trade Center is the design architect for a 25-story Bal Harbour tower.
3. Residence size. The smallest homes start around 3,300 sf, and the developer lists residences up to about 12,600 sf. Even the entry-level plan is a large home.

Pricing Reality

Rivage launched in 2023 with prices from $8 million. In November 2024, Florida YIMBY reported that the remaining homes started at $10 million. The developer has not published a current price list.

At the top, the pricing story has moved twice. In June 2025, Fox Business reported a three-level estate spanning the top three floors offered at $150 million. In July 2026, PROFILEmiami reported a $75 million five-bedroom penthouse with more than 10,000 square feet of air-conditioned space, more than 10,000 square feet of private outdoor space and an oceanfront plunge pool, described as a new and final oceanfront estate-style penthouse. We have not seen a report on whether the $150M estate sold or was split back into separate homes.

What Makes the Product Different

Rivage's pitch centers on residence size and service. According to the developer's fact sheet:

• Three- and four-bedroom plans fill floors 2 through 17
• Five-bedroom residences take floors 18 through 21
• Multi-level penthouses crown the tower
• Private elevator entry to every residence
• 10-foot ceilings, floor-to-ceiling windows and terraces up to 12 feet deep
• Sub-Zero and Wolf kitchens with a full-height wine cellar
• A two-car private garage with storage for each home

The amenity program covers about 25,000 square feet:

• Sunrise and sunset pools with cabanas
• Signature oceanfront dining for residents and their guests
• Spa with sauna, hammam and hot and cold plunge pools
• Ocean-view fitness center and yoga studio
• Pickleball and padel courts
• Fully serviced beach club
• Media room, library and cocktail lounge
• Children's playroom and virtual reality game simulator
• Residential butler and estate manager, 24-hour security and valet, and a house car

Buyer Fit

Rivage is a fit for:

• Buyers who specifically want Bal Harbour, not Miami Beach generally
• Owners cross-shopping against St. Regis Bal Harbour and Oceana Bal Harbour resales
• Multi-home buyers who want 3,000+ sf as an entry point, not the maximum
• International buyers who want a serviced oceanfront residence in a new building

It's probably not the right fit for:

• Buyers who want South Beach urban energy
• Anyone targeting smaller, more efficient floor plans
• Buyers who need a rental-income investment; we have not seen published leasing rules, so review the condominium documents before assuming any rental terms

How It Compares to Other Trophy Projects

For many buyers, Rivage's nearest comparison is the St. Regis Bal Harbour resale market, along with next-door Oceana Bal Harbour. Both appeal to buyers who want a serviced Bal Harbour oceanfront home. Rivage's edge is new construction, SOM design and residences that start around 3,300 sf. St. Regis's edge is an operating building you can tour today, established service and proximity to Bal Harbour Shops.

The Risk Side

The pre-construction risks at Rivage:

• Final delivery timing. 2027 is the stated target. We have not found a public topping-out report, and oceanfront delivery dates routinely slip.
• Deposit schedule. The developer's 2024 fact sheet lists 20% at contract, 10% at groundbreaking, 10% at top-off and 60% at closing. Confirm the current schedule with the sales team before signing.
• Resale inventory. As of October 27, 2026, our MLS feed showed no active or closed listings at Rivage, so there is no resale pricing history yet.
• HOA carrying cost on large residences. Monthly association costs scale with size, and the budget for a 3,300+ sf entry home will be significant.
• Insurance assumptions. Get a quote for oceanfront insurance before you commit, rather than relying on an estimate.
• Resale liquidity at the very top. Penthouse product trades thinly; underwrite a long hold for the largest residences.

Bottom Line

Rivage Bal Harbour is the new oceanfront condo tower now rising in Bal Harbour. It pairs SOM design, a Related Group, Two Roads and Rockpoint development team and large residences with a scarce address. Construction has been underway since September 2024, and delivery is targeted for 2027.

For Bal Harbour buyers specifically, this is a new-construction option that doesn't require waiting for a resale at Oceana or St. Regis. For everyone else, it's a useful benchmark for what oversized oceanfront new construction looks like at the top of the market.

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