When finished, these units will range from 662 sf for studios to 1,480 sf for two-bedroom units.

In addition, on the 17th floor--the penthouse level--the project entails either retrofitting units that are already built or doing initial buildout on new units. The floor will have 22 units with 10-foot ceilings after the dust clears.

These residences will have divided rooms but will incorporate several features of the loft units into their re-design. These units feature wide panels of glass. Besides one 662-sf studio on this floor, the one- and two-bedroom penthouse units will range from 840 sf to 1,480 sf.

The project will cost between $40,000 and $85,000 per unit on each floor for a total of up to $5.53 million for the two floors, Bruce Green, vice president of sales and marketing for Roney Palace, tells GlobeSt.com.

Units are being custom-built as people purchase them, Green says. That way, people can choose flooring, cabinetry and so on. The units are in the sales process now. Green says sales are going "very well" and he expects the two floors to be virtually sold out by this coming spring. Once sold, construction takes 120-180 days, depending on the unit.

The Roney Palace loft residences are priced between the mid-$200,000s to the mid-$800,000s. Penthouses prices start in the high $300,000s. The other floors sell from up to the $600,000s.

Another project at the Roney Palace, a proposed rooftop solarium, recently received approval from the city of Miami Beach.

Instant Insights /

The Roney Palace Converts Two Floors to Lofts and Penthouses

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