Ritz-Carlton-Residences Ritz-Carlton Residences

SUNNY ISLES BEACH, FL—After completing 100 closings—many virtually—during the coronavirus pandemic, joint developers of a luxury condominium building here announced that they paid off a $212 million construction loan on the 52-story tower.

Construction on The Ritz-Carlton Residences in Sunny Isles Beach wrapped up at the end of February. The units are already more than 80% sold, according to the joint developers, Fortune International Group and Château Group. Finalized new sales, which happened in just over 30 days, totalled more than $30 million.

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