MW After a year of setbacks, Formula 1 star Sergio Perez buys a luxury Miami condo worth millions

By Charlie Lankston

The property includes a fine-dining restaurant, exclusive beach club access, a private marina, and a bayfront infinity pool.

Former Formula 1 driver Sergio Perez's future in auto racing continues to remain uncertain after he was dropped by his longtime team, Red Bull Racing. However, that hasn't stopped the Mexican sports star from making some major moves in his personal life by snapping up a lavish new home in Miami.

Perez, 35, who is known to his fans as "Checo," is understood to have purchased a four-bedroom luxury condo inside the new St. Regis Residences, a 50-story high-rise that is located on the waterfront in Brickell.

According to sources familiar with the deal, Checo splashed out millions of dollars on the home-with one insider pointing out that a unit similar to the one the Formula 1 legend purchased is currently on the market for $9.6 million.

Prices for the remaining units in the building-which is due to be completed in 2027-start at $5 million, indicating that Perez paid a pretty penny for his new Florida digs.

The unit, which boasts more than 4,400 square feet of living space, features 5.5 bathrooms, "breathtaking panoramic views of the waterfront and Brickell skyline, private elevator access," and an array of amenities housed in the lavish new high-rise building.

It is unclear whether Perez will ever return to Formula 1-having ended his yearslong run at Red Bull in December 2024 to be replaced by relative newcomer Liam Lawson.

However, should he wish to take his mind off the endless rumors about his racing future, Perez need only look to his new abode to provide him with plenty of distractions.

The Related Group-developed St. Regis Residences, which began construction in November 2024, offer the utmost in luxury, including a residents-only fine-dining restaurant by Michelin-starred chef Fabio Trabocchi, exclusive beach club access, a private marina, and a bayfront infinity pool.

Inside the building, there is a golf simulator, a beauty salon, a pet spa, a "fully equipped fitness center," a lap pool, a Pilates and yoga studio, and a salt spa, as well as saunas and steam rooms.

In fact, the only other amenity that might interest Perez is a driving simulator, which would allow him to keep up his racing skills while he weighs whether to return to the sport.

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However, the driver's new home is conveniently located in the same city as one of the three U.S.-based Grand Prix races, with the 2025 Miami event due to be held on May 4.

The 2024 Miami Grand Prix saw Checo put on one of his best performances of the season, finishing in fourth place overall.

However, after a strong start to the year, Perez suffered setback after setback, which ultimately left him in eighth place in the drivers' championships, while his team ended in a disappointing third, behind rivals McLaren and Ferrari $(RACE)$.

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Following the news about Perez's exit from Red Bull after three years, the team's principal, Christian Horner, insisted that the decision had been the driver's own-explaining that Perez had wanted to take time out to re-evaulate his future in the sport.

"Checo, he's been a fantastic member of this team," Horner said, according to the Formula 1 website. "It's been a tough year for him but he's a great person and of course [he] played such a key role in the '21 drivers' championship, '22 and '23 constructors' [championship].

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"He was second in the drivers' world championship last year, he's won five Grands Prix in our cars. But he reflected after the season and we sat down and discussed it last week about what are the next steps, and he's decided that he's going to take a bit of time out.

"We're sad to see him leave the team, but obviously it's time for him to spend with his young family as well and reflect on what he wants to do for the future."

Perez, who began racing in Formula 1 in 2011, is the father of four children with his wife, Carolina: daughter Carlota, sons Emilio and Sergio, and another daughter whose name has not been publicly shared.

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In a post on his Instagram account, Perez indicated that he does not plan to relocate to Miami full time, describing his newly purchased abode as his "vacation spot."

"I am so glad to have Miami as my vacation spot," he wrote, while sharing images of himself posing with a team of staffers from the St. Regis Residences.

This story originally ran on Realtor.com.

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March 13, 2025 05:01 ET (09:01 GMT)

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