Five Park, Miami Beach’s 98-story luxury condominium tower developed by David Martin’s Terra with Russel Galbut’s GFO Investments, has recently announced the addition of ‘Park Residences’ within the iconic building. The resident-only space will transform the tower’s eighth to 25th floors into 140 residences, featuring one-to-four-bedroom spaces in 895 to 4,066 square feet with astounding aerial views of Canopy Park, Biscayne Bay, the Miami skyline, and the Atlantic Ocean. Park Residences is projected to be on track for completion by the end of 2024.

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Five Park will offer residents an intimate luxury experience that prioritizes privacy, extending an exclusive arrival experience to homeowners with dedicated entrances, exclusive lobbies, and a series of private elevators that cart to each desired residential or amenity level. The Park Residences’ stunning interior is matched by its select 180-degree views of Miami Beach’s most sought-after sights, with indoor access to 36,500 square feet of dedicated benefits and services distributed throughout the tower.

“The variety of residences at Five Park responds to Miami’s evolving buyer profile,” says David Martin, CEO of Terra. “We have interest from a mature buyer demographic seeking larger, more expansive floor plans available on the top floors, but also from young executives or couples splitting their time between several homes. Five Park was conceptualized to adapt and answer to diverse lifestyles and residential needs.”

The landmark project is encased by sleek and sophisticated designs and finishes, employing collaboration by renowned interior design mavens Anda Andrei and Gabbellini Shepard. The Park Residences aim to envelop residents in their own private world of leisure and luxury with amenities like a 24-hour choreographed team of concierges and valets, a resident-only pool bar and café, an exclusive branded beach club in the ‘South of Fifth’ neighborhood, a private restaurant, a specialized coworking office space, and more.

“There is a strong demand for new, varied and amenity-rich residences in Miami Beach,” says Cathy Strafaci, Executive Vice President and Managing Director of Douglas Elliman Development Marketing Florida. “The Park Residences fill a void in the current market, creating an entry point into the first new luxury condo tower being built in the desirable South of Fifth neighborhood in almost a decade.”

Prospective residents of Five Park are encouraged to take advantage of the neighboring three-acre Canopy Park, with family-friendly features such as a MONSTRUM playground, outdoor gym, dog park, picnic areas, and art installations. The project also includes plans to construct a 158-foot-long enclosed bridge, designed by Daniel Buren, spanning across MacArthur Causeway, bringing residents directly to the South of Fifth Neighborhood, Miami Beach Marina, South Pointe Park, and sandy Miami beach, also achieving long-term, overarching connectivity goals for the city as a whole.

Pricing for Five Park’s Park Residences starts at $1.5 million, with pre-construction purchases already underway. Sales through Douglas Elliman Development Marketing. For more information, contact [email protected] or visit the website.