Design District's first condo lists at $9.99M inside Fouquet's

The Miami Design District is about to have something it has never had, a condo for sale. Unit 2101 at Fouquet’s Hotel & Residences has listed for $9.985 million, the first residence to hit the market inside the district’s first-ever residential development.

Why it matters

The Design District spent a decade becoming a luxury retail and cultural destination without a single place to live. Fouquet’s changes that, and this listing sets the neighborhood’s opening price. At roughly $9.99 million for a nearly 3,000-square-foot residence, the first ask lands north of $3,300 a foot, a number that tells every developer eyeing the district what the market will bear for a new residential address here. For agents, it is the first real comp in a submarket that has had none, and first comps tend to anchor everything that follows.

The developer roster signals the ambition. The project is led by Miami Design District Associates alongside Raycliff Capital, Constellation Hotels Holding and Fort Partners, the group behind Miami’s Four Seasons and Surf Club, with sales run by Corcoran Sunshine and architecture by Pritzker winner Sir David Chipperfield. That pedigree is the pitch: the Design District is being positioned as a place to own, not just to shop, and the pricing has to hold for the thesis to work.

The numbers

Unit 2101 is a four-bedroom, four-and-a-half-bath residence of nearly 3,000 square feet with a den and a large private terrace, listed at $9.985 million. The broader project pairs a 25-story, 143-unit residential tower with a 12-story, 85-key Fouquet’s hotel on a nearly two-acre site at 39 NE 39th Street. Residences run one to four bedrooms and start at $1.8 million.

What’s next

Watch how quickly the first units trade and at what price per foot, the early read on whether the Design District can hold a nine-figure residential premium beside its retail.