L
incoln Road, once Miami Beach’s “Fifth Avenue of the South,” is set to transform with a $4 billion redevelopment that will extend the pedestrian mall to the ocean and introduce new public spaces. Built by Carl Fisher and later redesigned by architect Morris Lapidus in the 1950s, the street had long suffered from vacant storefronts and tourist‑focused shops. The new plan aims to create a vibrant, walkable neighborhood that leads to some of the city’s most expensive condominiums.

    Douglas Elliman’s Pietro Belmonte is marketing a $125 million penthouse and 29 other luxury units at the upcoming Ritz‑Carlton Residences. “Lincoln Road was the epicenter of Miami Beach,” he says. “Lapidus envisioned the street stretching from the bay to the ocean, but that never materialized.” Today the mall ends in a cul‑de‑sac just shy of the beach, near the Ritz‑Carlton hotel.

    Sobe Sky Development, the Ritz developer, is adding a $12 million private‑public beachwalk featuring a Lapidus‑inspired gateway and public art. The city is also installing new landscaping, outdoor seating, sidewalks, and an amphitheater. Alongside the mall, new office buildings are rising on side streets, including Black Lion’s Robert Rivani project, which will house a speakeasy, restaurants, and an LA Monarch athletic club. Playboy has secured a 10‑year lease for a penthouse in Rivani’s Michigan Avenue building, planning a members‑only club. The iconic Delano hotel is slated to reopen early next year.

    In 2024, a $120 million penthouse sold at the Shore Club, a Robert A.M. Stern Architects redevelopment of a historic Art Deco building just north of Lincoln Road. The 18‑story tower, part of an Auberge Resorts Collection hotel, is nearly sold out, with four turnkey residences at Cromwell House—original Art Deco—priced from $9 million. Douglas Elliman handles sales for these units.

    The Shore Club also sets price benchmarks for the 15‑story, 30‑unit Ritz, with units starting at $4.25 million. Near the old Sagamore Hotel at Lincoln and Collins, a $125 million penthouse will span 14,638 sq ft, offering 13 bedrooms, 15 full bathrooms, and two pools—one for sunrise, one for sunset.

    Belmonte emphasizes the attraction of top chefs and high‑profile buyers. “We’re bringing José Andrés to the Ritz‑Carlton hotel and other renowned chefs to the area,” he says. “Lincoln Road has had its ups and downs, but it’s poised to become a major destination.”