Dayssi Kanavos on the Vision Behind The Ritz-Carlton Residences, South Beach
- laurie2769
- 1 hour ago
- 7 min read
Flag Luxury is a private real estate development company based in New York City, specializing in luxury hotels, residences, and land-based entertainment and retail projects. Founded in 1997 by Dayssi and Paul Kanavos, the company has assets exceeding $6 billion and focuses on acquiring and developing world-class luxury hospitality projects in leading global cities, including right here in Miami.
To learn more about Flag Luxury’s latest venture in Miami, The Ritz-Carlton Residences, South Beach, Miami Living sat down with Dayssi Kanavos, President & COO of Flag Luxury, to discuss the vision behind this exceptional development and what sets it apart in the luxury real estate landscape.
Miami Living: Given your vast experience in luxury real estate development, what makes The Ritz-Carlton Residences, South Beach stand out compared to other high-end residential projects you’ve worked on? What sets this particular project apart?
Dayssi Kanavos: The Ritz-Carlton Residences, South Beach, stands out for several reasons, but perhaps most notably, it’s the rarity of beachfront property that makes it so exceptional. Located on the last developable parcel along Billionaire Row, this project offers a truly rare opportunity.
These residences are what I like to call ‘beach houses in the sky.’ Positioned right at the water’s edge, they offer an unprecedented level of integration between indoor and outdoor living.
With only 30 exclusive residences, designed by the renowned Alessandro Munge, this is not just a luxury building—it’s a sanctuary of sophistication and privacy. And, of course, being partnered with the legendary Ritz-Carlton ensures that residents experience unparalleled service and a lifestyle of true five-star luxury.
Miami Living: Flag Luxury has been involved in numerous iconic developments, including the Ritz-Carlton New York, NoMad. How has your past work in cities like New York and Las Vegas influenced the design and development philosophy for The Ritz-Carlton Residences in South Beach?
Dayssi Kanavos: Our experience in cities like New York and Las Vegas has significantly shaped the development philosophy behind The Ritz-Carlton Residences, South Beach. Given that many new residents to Miami are relocating from the Northeast, we’ve leveraged our understanding of their preferences and lifestyle.
For instance, many of the residences are designed to open directly into a private vestibule off the elevator, offering a sense of exclusivity similar to the renowned co-ops in New York City. While residents from places like NYC are accustomed to the vibrancy and energy of the city, they often seek a serene, private retreat when they return home.
In South Beach, we’ve created a sanctuary that provides peace and privacy, while also allowing residents to enjoy the dynamic surroundings and exceptional hotel amenities that come with the Ritz-Carlton brand.
Miami Living: The merger between The Ritz-Carlton, South Beach and the Sagamore Hotel is a significant undertaking. Could you share more about the vision behind this merger and how you see the two properties complementing each other once the redevelopment is complete?
Dayssi Kanavos: From the outset of developing The Ritz-Carlton, South Beach, we always had our eye on the Sagamore Hotel. In fact, we attempted to purchase it a couple of times because we recognized the growing demand for Ritz-Carlton’s unparalleled service, which outpaced the number of rooms we could offer.
At the same time, we saw a clear need for larger suite configurations to meet our guests’ desires for more spacious accommodations. The redevelopment of the Sagamore will involve transforming 110 rooms into approximately 55 luxurious suites, offering the expansive space our clients expect.
Our vision is to create a seamless experience for our guests, where they check in at The Ritz-Carlton, and are effortlessly transferred to the Sagamore through an elevated bridge connector. We’re also committed to honoring Sagamore’s rich legacy as a destination for art lovers.
Miami Living: You’ve spoken about revitalizing Lincoln Road and addressing community preservation. How do you see The Ritz-Carlton Residences contributing to the broader Miami community and its relationship with art and culture, especially with your involvement in Art Basel?
Dayssi Kanavos: The redevelopment of Lincoln Road’s eastern edge is a pivotal initiative for revitalizing the heart of Miami Beach. Our goal is to create a pedestrian-friendly urban core where residents, visitors, and locals alike can live, work, and play in a dynamic, vibrant environment. The expanded Ritz-Carlton Hotel & Residences, South Beach, will be an integral part of this transformation, fostering a deep connection between luxury living and the broader community.
Art will remain at the forefront of our vision, continuing the legacy of the Sagamore as a destination for art lovers. We will host curated exhibits throughout the year, ensuring the property remains a place of creativity and cultural celebration. Beyond the residences, our efforts will extend to enhancing the entire Lincoln Road corridor, with a public art walk that allows everyone to experience and enjoy art in the open.
Ultimately, this project is about completing the original vision of architect Morris Lapidus, who sought to connect both ends of Lincoln Road. We will bring that vision to life with a spectacular pedestrian greenbelt, culminating in the iconic Lapidus Arch. This merger isn’t just an expansion of our properties—it’s a commitment to preserving and elevating the cultural and artistic spirit of South Beach, creating a lasting legacy for the community and the city.
Miami Living: With a focus on both luxury residences and world-class hotel experiences, how important is the integration of these elements at The Ritz-Carlton Residences, South Beach? What unique lifestyle offerings can future residents expect?
Dayssi Kanavos: The integration of luxury residences with world-class hotel experiences is at the very heart of The Ritz-Carlton Residences, South Beach. This unique combination allows us to offer an unparalleled lifestyle where residents can enjoy the privacy and comfort of their own home while having access to the extraordinary amenities and services that come with the Ritz-Carlton brand.
Future residents can expect a seamless blend of luxury, convenience, and exclusivity. From bespoke concierge services to private in-residence dining by Michelin-starred chefs from the José Andrés Group, every detail has been thoughtfully curated to elevate the daily living experience.
Beyond that, residents will have access to all the exceptional hotel amenities, including the iconic spa, fitness center, and fine dining options, providing the best of both worlds. Whether they are seeking a quiet retreat or a vibrant social scene, the lifestyle offerings are designed to cater to every need, making it truly the ultimate place to call home.
Miami Living: In addition to your professional work, you’ve been very involved in empowering women through initiatives like the Women’s Power Series. How do you incorporate this passion into your leadership at Flag Luxury and within your projects, especially in a male-dominated industry like real estate development?
Dayssi Kanavos: My passion for empowering women is something that I actively incorporate into my leadership at Flag Luxury and throughout all of our projects. The creation of the Women’s Power Series with my daughter stemmed from seeing the underrepresentation of women in real estate and hospitality conferences, both in terms of attendance and as featured speakers. This gap was glaring, and I felt it was crucial to provide a platform where women could come together, share their stories, and support one another.
The Women’s Power Series was designed as a space where women can network, build community, and gain valuable industry insights in an elevated and inspiring setting. Each event is crafted to ensure that attendees leave feeling more empowered and equipped to take on the challenges of a male-dominated business world.
At Flag Luxury, we foster a culture that values diversity and inclusivity, and we bring those same principles into our projects. By elevating women’s voices and creating opportunities for them to thrive, I believe we’re not only enriching the real estate and hospitality industries but also ensuring that we’re part of a positive shift toward greater representation and equality.
Miami Living: What do you love most about Miami, and how does the city inspire you personally and professionally?
Dayssi Kanavos: A few things I love about Miami are its adaptability and constant evolution. It’s a city that embraces innovation across art, sports, culture, music, fashion, hospitality, and technology. At the same time, it offers an incredible lifestyle with world-class water sports, golf, tennis, and paddle, all set against stunning beaches and waterways.
Miami inspires me with its seamless blend of urban energy and natural beauty. It’s a city that never stands still yet always exudes effortless luxury.
Professionally, Miami pushes me to elevate luxury branded developments—crafting spaces that reflect its vibrancy, elegance, and unique balance of dynamic city life and serene coastal living.
Miami Living: You’re deeply involved in the art scene, especially with events like Art Basel. What aspects of Miami’s art and cultural scene resonate with you personally, and do you have any hidden gems or secret spots in Miami that you enjoy?
Dayssi Kanavos: Miami’s art and cultural scene is one of its greatest assets. It is bold, diverse, and constantly evolving. As an avid art collector and being deeply involved in South Beach’s Art Week, I host an annual event in partnership with Art Basel. Last year, we focused on empowering female artists through a collaboration with the non-profit Arcadia. I believe art should be immersive and thought-provoking, and Miami provides the perfect backdrop for that.
Art isn’t just an aesthetic choice, it’s an emotional connection that enhances the experience of a space.
One of my favorite hidden gems in Miami is the Bass Museum. It’s an intimate yet powerful space that allows you to truly immerse yourself in an exhibit. It’s places like this that make Miami’s art scene so dynamic and inspiring.
Miami Living: How do you manage to disconnect from work? Are there any personal routines or activities you do to recharge and find balance?
Dayssi Kanavos: Balancing work and personal time is essential, and I have a few routines that help me recharge. Meditation and long walks on the boardwalk give me space to clear my mind, while tennis and golf keep me active and engaged. I also love puzzles and crosswords because they are a great way to shift focus and unwind.
Experiencing something new is always refreshing, whether it is trying out a new restaurant or taking in a live performance. And above all, spending time with my family and friends is my true respite from work because it is those moments of connection that bring me the most balance and joy.
