A penthouse at The Ritz-Carlton Residences, West Palm Beach has gone under contract after being listed at $16.95 million, according to a July 2026 report from PROFILEmiami, with additional coverage from Florida YIMBY. The contract is being described as a new benchmark for North Flagler Drive condominiums — both by total sales price and by price per square foot — in a corridor that has quickly become one of West Palm Beach's most closely watched waterfront addresses.
The residence is Penthouse A, located on the 27th floor of the 27-story tower now under construction at 1717 North Flagler Drive. It's a four-bedroom, 5.5-bathroom home spanning approximately 6,097 square feet of interior living space, plus roughly 1,200 square feet of private outdoor terraces with views of the Intracoastal Waterway, Palm Beach Island, and the Atlantic Ocean. Reporting indicates the buyer is an existing Palm Beach-area resident moving up to a larger primary residence while staying in the area — drawn to the layout's scale, privacy, and capacity for both daily living and large-scale entertaining.
What happened
Penthouse A had been listed at $16.95 million before entering contract. Coverage of the deal frames it as the highest-priced condominium transaction ever recorded on North Flagler Drive, on both a total-price and price-per-square-foot basis. It's important to be precise about status: the residence is under contract, not closed, and terms of the eventual sale have not been publicly disclosed. As with any pre-construction transaction, a contract is a meaningful milestone, but it isn't a completed sale.
Why this contract matters for North Flagler Drive
North Flagler Drive has emerged over the past two years as a focal point for new waterfront development in West Palm Beach, and a record-setting contract at this stage — while the tower is still under construction — is a signal worth noting. Related Group and BH Group have previously reported the project more than 70% pre-sold, with in excess of $150 million in sales generated within its first six months on the market. A $16.95 million ask on a single residence, now under contract, reinforces that the corridor's ultra-luxury demand extends well beyond entry-level pricing and into the building's most expensive inventory.
For buyers evaluating West Palm Beach more broadly, the takeaway isn't that every residence will command penthouse-level pricing — it's that the market for branded, waterfront new construction on North Flagler Drive is active at every tier, and that inventory at the top of a building's price range can move.
What Ritz-Carlton Residences West Palm Beach is bringing to market
The Ritz-Carlton Residences, West Palm Beach is planned as a 27-story waterfront tower with 138 residences, developed by Related Group and BH Group in partnership with Marriott International. Architecture is by Arquitectonica, interiors by Rockwell Group, and landscape design by Naturalficial. Every residence is oriented to capture water views, and the building's amenity program is reported to include a waterfront pool deck, fitness and wellness facilities, a spa, indoor and outdoor lounges, coworking space, a children's playroom, a golf simulator, guest suites, and Ritz-Carlton residential services. Construction is underway, with completion anticipated in 2028.
Why branded residences keep drawing ultra-luxury buyers
Deals like this one point to a broader pattern in South Florida's ultra-luxury segment: buyers at the top of the market continue to gravitate toward branded residences that pair architecture and design pedigree with a known hospitality standard. A Ritz-Carlton affiliation signals a consistent level of service, building management, and amenity operation that buyers can evaluate before the building even opens — which matters when a purchase decision is being made years ahead of delivery. It's also a factor in long-term value: branded product in strong waterfront corridors has tended to hold buyer interest well after initial sales, supporting resale activity once a building is complete.
Buyer representation and the rebate opportunity
Whenever a project like this generates headlines, it also generates buyer interest — and that's exactly the moment when representation matters most. When a developer pays a buyer-agent commission on a purchase, eligible buyers represented by TheBuyerRebate.com may receive up to 50% of our buyer-agent commission back at closing. Rebate availability depends on buyer eligibility, project and broker cooperation, registration timing, lender and closing rules, and transaction-specific details. On residences at Ritz-Carlton West Palm Beach's price points, half of a buyer-agent commission can represent a meaningful sum — though we don't quote exact figures without reviewing your specific transaction, and nothing here should be read as a guarantee of eligibility or amount.
Before visiting a sales gallery, registering online, or contacting the developer directly, speak with your buyer representative first. Early registration can affect representation and rebate eligibility — if the developer's in-house team is treated as the procuring party because you registered before your outside representation was established, an outside broker's commission, and any rebate tied to it, can be at risk.
View our full Ritz-Carlton Residences West Palm Beach Buyer Rebate guide →
Sourced from publicly reported news coverage (PROFILEmiami and Florida YIMBY, July 2026). TheBuyerRebate.com does not represent the buyer or seller in the transaction described in this article. Project details, pricing, availability, and timelines are set by the developer and are subject to change. A buyer rebate is not guaranteed and is possible only where buyer-agent compensation is received and a rebate is permitted under your agreement, lender approval where applicable, applicable Florida rules, and closing terms. This article is independent buyer-representation commentary and is not published by, sponsored by, or affiliated with Related Group, BH Group, Marriott International, or The Ritz-Carlton brand.