For example, the luxury Ritz-Carlton Residences in Miami Beach in Florida. Its developer bought the site for US$20 million in 2012 to turn it into a residential development, and then signed a 30-year agreement with the hotel operator to run the property after it is ready by the end of next year.

Luxury real estate and art are widely interconnected in Miami, but the Art Studio at The Ritz-Carlton Residences, Miami Beach is a first for South Florida.

Developer Ophir Sternberg was born in Israel, but as the son of a sea merchant captain, he said, he spent much of his childhood at sea, with four years in Kobe, Japan.

Developer Ophir Sternberg was born in Israel, but as the son of a sea merchant captain, he said, he spent much of his childhood at sea, with four years in Kobe, Japan.

We’ve picked five sexy South Florida residential developments. Our criteria? They’re posh. They reach for the sky. They enable the glittery South Florida lifestyle known the world over.

In our last Miami survey we unveiled a booming city, effortlessly combining brand new world-class architecture with art and culture, attracting starchitects from all over the world, as well as many prominent local architects. Since then, Miami has only been going from strength to strength with key projects reaching completion but several more taking their place in the Florida city’s construction roaster.

Lionheart Capital got its construction loan for the Ritz-Carlton Residences Miami Beach boosted to $105 million. Bank of the Ozarks assumed a $10 million loan from City National Bank of Florida and increased it by $95 million to developer 4701 North Meridian LLC, an affiliate of Miami Beach-based Lionheart Capital led by CEO Ophir Sternberg.

Ophir Sternberg, a prominent Miami property developer, received an unusual request when work was beginning on one of his latest projects: a famous feng shui master wanted to visit Sternberg’s private residence to ensure that he was personally compatible with the building he was working on.