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Fast forward to 2015 and roughly 100 new condo towers are under construction in coastal South Florida, with at least 3 of those featuring a 50 million dollar penthouse on top. In Miami, two 50 million dollar penthouses have already gone into contract in 2015.

An artist rendering for the 13-story Villa Valencia, which will be 39 condos in Coral Gables that will range from three bedroom, 2,616-square-foot units priced at $1.65 million up to $10.5 million.