What’s Inside Miami’s Newest Luxury Penthouse?

Despite the reports of a residential market slow down in Miami, the Magic City's luxury real estate sector is still quite promising with the latest addition of a grand penthouse at the two-tower Grand Bay, which hit the market for $28 million.

The cool price of the luxury penthouse makes it a record for any condo currently listed in the city's Coconut Grove.

Located in the project's South Tower, the glass-enclosed, five-bedroom, eight and a half bathroom penthouse, spans nearly 15,000 square feet of space.

The 10,118-square-foot interior living area of the penthouse includes a roomy opening living/dining space, 12-foot ceilings, and two extra rooms for staff. The pad also features a chef's kitchen with Miele appliances, a media room, a gym, and a spa.

The buyer of the luxury penthouse will get to enjoy the 2,500-square-foot terrace on the main level, and an additional 2,000-square-foot private rooftop deck with a pool and a garden space.

For a penthouse with such perks, it's no surprise that the rest of the luxury project, which is scheduled to be completed this Summer, also includes a number of enviable features. The tower will have an art gallery, a library, a residents' lounge and membership/ club room, and a private dining area or personal eatery. Pet lovers will also greatly appreciate the pet spa services to be offered. Besides the penthouse pool, there are other features that residents can enjoy, as each tower has its own rooftop pool, a 25-meter lap pool, and a Jacuzzi on the main terrace.

There will be a total of 98 units in both towers, and prices will start at $2.95 million a unit.

The new luxury penthouse may not be in a posh Manhattan area, but it's nonetheless a deluxe house in the Magic City.

For those wanting a place in Miami and can afford this $28 million penthouse, be sure to check out the listing.