Riviera Horizons broke ground on Pagani Residences in May 2026 — 70 all-corner residences from $3.9M, a 240-foot private boardwalk marina, and a Pagani Utopia Roadster Miami Edition included for each penthouse buyer.
Key Takeaways
- Pagani Residences broke ground in North Bay Village in May 2026; completion targeted for Winter 2028.
- 70 all-corner residences starting at $3.9M; two duplex penthouses listed at $30M and $28.5M with a Pagani Utopia Roadster Miami Edition included.
- The third branded ultra-luxury tower in North Bay Village in 18 months — capital is repricing this submarket fast.
- View the full Pagani Residences project page at carloscabalerealtor.com/new-development/pagani-residences.
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In the 28 years I've watched Miami real estate, I've seen a lot of branded condos. Aston Martin, Bentley, Porsche, Mercedes-Benz, Dolce & Gabbana, Bulgari, Cipriani. Some of those brands stamped their name on a tower and walked away. A few — Aston Martin, Bentley — committed real design DNA.
But what Pagani just did with the groundbreaking on Pagani Residences in North Bay Village on May 19, 2026, is in a different category. Horacio Pagani himself, the founder of one of the most uncompromising hypercar makers in the world, is personally signing off on the interiors, materials, and craftsmanship of this 30-story tower. The two penthouses are not branded — they are made the same way Pagani makes a Huayra. And each penthouse buyer is receiving a Pagani Utopia Roadster Miami Edition as part of the purchase — a one-of-a-kind hypercar that Pagani builds in single-digit annual production.
That's not branding. That's a category Miami has not actually seen before.
Let me break down what this project is, why it's pricing where it's pricing, and what kind of buyer this actually fits.
The Project: 70 All-Corner Residences on Biscayne Bay
Pagani Residences is rising at 7901 East Drive in North Bay Village, on a peninsula with direct Biscayne Bay frontage. The 30-story tower is designed by Miami-based Revuelta Architecture International and developed by Riviera Horizons, the same Italian-led development team that recognized this site as one of the last large bayfront parcels with deepwater access in the Miami metro.
The architecture brief was extremely specific: every residence must be a corner unit. There are exactly 70 homes in the entire tower across 30 floors — fewer than 2.5 residences per floor on average. The point is light, privacy, and the kind of sightline geometry you cannot replicate in a 30-units-per-floor tower.
Floorplans range from approximately 2,800 to 5,300 square feet for the standard residences, with the two duplex penthouses crossing 8,000+ square feet.
Pricing starts at $3.9 million for the entry-level residences, scaling up through approximately $8M–$15M for the upper-floor full residences, and $28.5M and $30M for the two penthouses. The penthouse number sets a record for North Bay Village by a significant margin — a submarket that as recently as 2023 rarely saw closings above $5M.
The Pagani DNA: This Is Not a Logo Deal
What separates Pagani Residences from most branded condo projects is the depth of the brand's involvement. Horacio Pagani and his in-house design team — Pagani Arte — personally selected every material in the residences. The finish package includes:
- Light oak chevron flooring sourced from the same European mills Pagani uses for hypercar cabin trim
- Travertine stone staircases custom-cut for the duplex penthouses
- Bespoke metal inlays in brushed titanium and machined aluminum
- Italian sculptural detailing in the powder rooms and entry foyers
- Custom Pagani-designed door hardware
- A signature bronze-and-walnut design language carried from common areas into the private residences
Amenities include a 240-foot private boardwalk marina with deepwater access for owner yachts and tenders, a Pagani-branded private clubroom, a Pagani-designed wine cellar with member storage, a spa wing, and a rooftop pool deck.
The Penthouses: Pagani Utopia Roadster Included
The two duplex penthouses are the design halo. Priced at $30 million and $28.5 million, each penthouse spans two full floors of the upper tower with bay-and-ocean views in every direction. Buyers of each penthouse receive an exclusive Pagani Utopia Roadster Miami Edition — a one-of-one hypercar designed specifically for this project. Pagani builds the Utopia in extremely limited annual production globally. The Miami Edition specification is unique to these two cars and will never be replicated.
That detail alone makes the penthouse transactions more like art-market deals than real estate transactions.
Why This Matters for North Bay Village
North Bay Village has been one of Miami's most overlooked submarkets for two decades. Connected to mainland Miami via the 79th Street Causeway and to Miami Beach by the same bridge, it sits on a cluster of three small islands with views of both the bay and the Atlantic.
For a long time, the conventional wisdom was that North Bay Village would never attract trophy capital. The 79th Street corridor approaching from Miami felt rough. The existing 1960s and 1970s condo stock was tired. The infrastructure needed reinvestment.
What changed: in the last 18 months, three branded ultra-luxury projects have broken ground or launched here. Pagani at $3.9M start and $30M penthouses. Ritz-Carlton Residences North Bay Village from Related Group and Macklowe. Continuum Club & Residences at $344M in announced sales value. As I covered in "Ritz-Carlton Residences North Bay Village: Related Group and Macklowe's Twin Towers" and "Continuum Club & Residences North Bay Village: The $344M Waterfront Bet," capital is repricing this submarket in real time.
By the time these three projects deliver between 2027 and 2029, North Bay Village will not be a $1,500/sqft submarket anymore. It will be a $2,500–$3,500/sqft submarket in line with mid-tier Miami Beach.
For Miami Business Owners and International Investors
The Pagani buyer profile is specific and limited. Realistically, this project fits:
- Business owners with $20M+ liquid net worth looking for a primary or secondary Miami residence
- International collectors of design-driven assets — cars, art, architecture
- Investors who value scarcity as a hedge: only 70 units will ever exist, and the brand has explicitly stated it will not duplicate this project in another U.S. city
For business owners structuring this acquisition, the typical playbook involves either an LLC or limited partnership ownership structure for privacy and liability, a 1031 exchange consideration if rolling proceeds from a sold commercial asset, and a careful look at whether the property qualifies for short-term rental treatment under the Section 469 active participation rules (the building permits limited owner-controlled rental, but this is not a turnkey rental product like the Edge House or NoBe PARC model).
As I covered in "The Self-Directed IRA: How Miami Business Owners Are Buying Real Estate Inside Their Retirement Account in 2026" and "The Family Limited Partnership: How Miami Business Owners Pass Real Estate to the Next Generation Tax-Free in 2026," the entity structuring for an asset like this is more consequential than the underwriting itself.
Construction Timeline and Deposit Schedule
Groundbreaking: May 2026 (confirmed) Vertical construction begins: Late summer 2026 Topping off: Late 2027 Completion and TCO: Winter 2028
The deposit schedule follows the standard Miami pre-construction model: 10% at signing, 10% at groundbreaking (already triggered for new contracts), 10% at vertical, 10% at topping off, 60% at closing. For buyers signing now, this means roughly 40% paid before TCO and 60% due at closing in late 2028.
- Miami Market Snapshot — June 2026:
- Median sale price citywide: $595,000–$652,000
- Active condo inventory: 12.9 months of supply
- North Bay Village trophy launches in last 18 months: 3 (Pagani, Ritz-Carlton, Continuum)
- Average new construction premium over comparable resale: 10–15% per square foot
- Pagani Residences price per square foot: approximately $2,400–$2,800 for standard residences; significantly higher for penthouses
View the full Pagani Residences project page with current pricing and availability at carloscabalerealtor.com/new-development/pagani-residences
Frequently Asked Questions
Q: When does Pagani Residences in Miami complete construction? A: Pagani Residences broke ground in May 2026 with completion targeted for Winter 2028. The standard Miami pre-construction deposit schedule applies, with most buyer payments staggered between contract, groundbreaking, vertical, and closing.
Q: How much do Pagani Residences in North Bay Village cost? A: Pricing at Pagani Residences starts at $3.9 million for entry-level residences and scales to $28.5M and $30M for the two duplex penthouses. Each penthouse buyer receives a one-of-one Pagani Utopia Roadster Miami Edition included with the purchase.
Q: Is North Bay Village a good investment area in 2026? A: North Bay Village is one of the most quickly repricing Miami submarkets in 2026, with three trophy branded developments — Pagani, Ritz-Carlton, and Continuum — breaking ground or launching in the last 18 months. The submarket's per-square-foot pricing is expected to converge with mid-tier Miami Beach by 2028–2029.
Q: Who is the developer behind Pagani Residences? A: Pagani Residences is being developed by Riviera Horizons, an Italian-led Miami development team. The architecture is by Revuelta Architecture International. Horacio Pagani and his in-house design team Pagani Arte personally curated all interior finishes and materials.
Explore the full Pagani Residences project on my website: https://www.carloscabalerealtor.com/new-development/pagani-residences
Whether you're buying, selling, or investing — I've got you.
Partnership Realty / Partnership Realty Inc / +1 (561) 629-0358 / carloscabalerealtor.com
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