PMG and Greybrook Launch The Elser Hotel & Residences In Downtown Miami

National investment and development firm PMG (Property Markets Group), alongside Toronto-based real estate private equity firm Greybrook, have launched The Elser Hotel & Residences, a 49-story new construction luxury condominium located at 398 NE 5th St. The newly completed tower offers 646 fully furnished residences, over 19,000 square feet of curated amenities and 5,000 square feet of prime retail space. PMG Residential is the exclusive sales team for the property, with residences priced from the $600Ks or the equivalent cryptocurrency exchange rate.

“Downtown Miami is the city’s most desirable location for luxury real estate, resulting in high levels of demand met with record-low inventory,” said Ryan Shear, Managing Partner of PMG. “On the heels of an incredible response to our recent pre-construction developments, Waldorf Astoria Residences Miami and E11EVEN Hotel & Residences, PMG continues to meet the demands of Miami’s evolving real estate market by now delivering a new, move-in-ready luxury residential tower to the heart of Downtown with The Elser Hotel & Residences.” Contributing to its growth, Miami has also experienced a flurry of notable corporate relocations from prominent financial institutions over the past two years including Citadel, Blackstone and Thoma Bravo, among others.

Offering sweeping views of Biscayne Bay and the Miami skyline, The Elser Hotel & Residences Miami is designed by Sieger Suarez Architects with interior architecture and design by Cotofana Designs. The fully-furnished residences range from studios to three-bedrooms spanning 404 to 1307 square feet. Managed by industry-leading management company Highgate, the property will allow owners to enter a short-term rental program with daily rental options through The Elser Hotel & Residences Owners Program.

“With historically low resale inventories and long lead times for new projects under development to be completed, we are very excited to be launching The Elser Hotel & Residences Miami, together with PMG, in order to capture the strong demand for move-in ready residences in the Downtown Miami market,” said Peter Politis, CEO of Greybrook Realty Partners. “The short-term rental optionality available to owners, coupled with the high caliber of finishes and offerings, will continue to serve the city as it experiences a population, tourism and corporate relocation boom.”

Amenities at The Elser Hotel & Residences include a double-level amenity deck spanning over 19,000 square feet which overlooks Downtown Miami and Biscayne Bay, a 132-foot resort-style pool with private lounge areas and a 16-foot poolside screening LED wall. Additional amenities include co-working spaces, oversized modern gyms and fitness studios with frequent group classes, multiple lounges, smart package lockers, bike storage facilities, and a yoga lawn overlooking Biscayne Bay, among others. The property will include a new lobby cocktail bar and restaurant by the creators of Jaguar Sun as well as a coffee lounge by Cafe Domino.

For more information about The Elser Hotel & Residences, private showings or purchasing/ leasing information please fill out the form below:

PMG Announces Pre-Leasing For Society Biscayne In Downtown Miami

PMG will commence pre-leasing at Society Biscayne, the highly anticipated social living community on Biscayne Boulevard in Downtown Miami. Pre-leasing begins on Friday, December 10 with move-ins slated to begin in Spring 2022. The 49-story Society Biscayne is being developed in partnership with Toronto-based real estate private equity firm Greybrook Realty Partners.

“Pre-leasing is always an exciting milestone to reach because it signifies that opening is right around the corner. We are pleased to begin planning for welcoming residents to Society Biscayne and look forward to seeing this new social community flourish in the heart of Downtown.” Said Ryan Shear, Managing Partner of PMG.

Located at 400 Biscayne Boulevard, the 882,000-square-foot project will offer 646 rental apartments, 32,000 square feet of commercial and a 22,000-square-foot redesigned First United Methodist Church of Miami. The ground-floor retail will feature corner coffee shop and meeting space by Cafe Domino and a new lobby cocktail bar and restaurant concept by Jaguar Sun. PMG’s offices will also relocate to the development upon completion.

Amenities at Society Biscayne include a massive pool deck with a 16-foot screen, covered bar and grilling terrace; an outdoor yoga platform and theater lawn; a sky view hot tub overlooking Downtown; a two-level modern gym and fitness studio featuring daily classes; a two-level co-working lab with conference rooms; 24/7 concierge and smart package lockers. A mobile app will provide residents access to keyless entry to units and common areas, guest lists and access, payments and maintenance requests, thermostats, track packages, signup for community events and send messages.

The Society Living portfolio was created to address the insatiable demand for reasonable rents close to urban centers, where modern neighbors can connect and thrive together. Urging residents to “Choose Happiness,” Society Living focuses on creating vibrant living spaces that foster personal growth within a culture of inclusivity and unity. Existing Society Living developments include Society Las Olas in Downtown Fort Lauderdale, Florida, which opened in May 2020; Society Biscayne in Downtown Miami, slated to open in Spring 2022; Society Orlando, under construction in Downtown Orlando; and Society Wynwood, under construction in Miami’s Wynwood Arts District. Over 8,500 units are planned nationally including additional developments in Atlanta, Brooklyn, Denver and Nashville.

PMG And Greybrook Realty Partners Top Off Society Biscayne Tower At 400 Biscayne Boulevard

PMG and Greybrook Realty Partners have topped off Society Biscayne, their 49-story social living community located at 400 Biscayne Boulevard in Downtown Miami. The Sieger Suarez Architects-designed tower rises 574.2’ and features a mix of residential, retail, office and religious uses. The tower broke ground in June 2019 after the developers locked down a $161.5 million construction loan. Construction is moving quickly with unit framing and installation of glass paneling surrounding the podium of the building is well underway. Society Biscayne expects to launch their pre-leasing program later this summer with the first expected occupants set to move-in January 2022.

Society Biscayne is a 646-unit social living community which features 40,000 SF of amenity space including a sky pool bar, an oversized fully-equipped modern gym, and expansive waterfront views. Society Living communities are designed to provide a growing urban renter population with an enhanced social living experience, along with co-living options that address the strong demand for attainably priced rental housing in attractive urban locations across the U.S.

Miami’s Downtown is one of the city’s rapidly transforming submarketsNearby at 300 Biscayne PMG and Greybrook Realty Partners are also developing Waldorf Astoria Hotel & Residences Miami, an ultra-luxury development which is set to be the tallest tower south of Manhattan and transform the city skyline. PMG also recently launched E11EVEN Hotel & Residences in Downtown Miami across the street from E11EVEN Nightclub. The tower will rise 65-stories and features 375 fully-furnished condo-hotel units which start at $385K. The project is reportedly already 70% sold-out after launching sales in late-January 2021.

PMG, Greybrook Realty Partners and Hilton Launches Sales At The Carlos Ott-Designed Supertall Waldorf Astoria Hotel & Residences Miami

The luxury supertall hotel and condo tower Waldorf Astoria Hotel & Residences Miami has officially launched sales in Downtown Miami. At 100-stories the tower is be the tallest ever to launch sales in Miami, rising 1,041’. Construction is estimated to begin in March 2022 with completion in 2025. A 6,144 square foot sales center was recently completed nearby at 400 Biscayne. Waldorf Astoria Hotel & Residences will be developed at 300 Biscayne Blvd by a partnership between Property Markets Group (PMG), Greybrook Realty Partners and Hilton. PMG Downtown Developers LLC acquired the two-acre site in November 2014 for $80 million.

“Miami has become a true global city, drawing in a high concentration of international buyers and travelers, as well as those domestically predominantly from the Northeast, Midwest and California,” said Ryan Shear, Managing Partner of PMG. “Waldorf Astoria’s rich history and heritage combined with Miami’s flare has evoked an overwhelmingly enthusiastic response from a new generation of luxury consumers, as well as generational Waldorf brand loyalists around the world.”

Residences will offer the latest smart-home technology with custom mobile app access to concierge service. The app will feature a full menu of available offerings, including dining reservations, 24/7 room service, spa and fitness treatments, house car reservations, access to valet service, package delivery service and dog walking services.

Pricing starts at $650,000 for the Junior Suite Residences, $1 million for a one-bedroom unit, $1.7 million for a two-bedroom unit, $3,100,000 for a three-bedroom unit and $4,900,000 for a four-bedroom residence. The payment structure includes 10% at contract, an additional 10% within 6 months, 10% at the beginning of construction, 10% in March 2023 and the balance of 60% at delivery, expected in 2025.

Known as the pioneer of elegant service and timeless luxury dating back to 1931, Waldorf Astoria’s arrival in Miami and commitment to building one of the world's most extraordinary landmarks is evidence of the city's continued growth amongst some of the world's most elite cities. Waldorf Astoria is known for providing unforgettable experiences in landmark destinations across the world, a tradition which strongly resonates with PMG’s core principles of creating innovative ways to offer a unique luxury living experience.  

“We are incredibly excited to partner with PMG to bring the first Waldorf Astoria to Miami, one of the most dynamic and cosmopolitan destinations that draws discerning travelers from around the globe,” said Dino Michael, senior vice president and global head, Waldorf Astoria Hotels & Resorts. “Waldorf Astoria Hotel & Residences Miami will not only transform the city skyline, but usher in a new level of service to the Miami market– creating unforgettable experiences for every resident and guest.”

PMG has launched their own brokerage, PMG Residential, to perform as an in-house sales team to oversee sales of Waldorf Astoria Hotel & Residences. PMG Residential will be led by Sergio Pintos and Managing Broker Rodrigo Pintos. The Waldorf Astoria sales team includes Aura Aragon, Alejandra Castillo, Karine Carvalho, Daiana Quiceno and Christian Tupper in collaboration with Fredrik Eklund, Julia Spillman and John Gomes of Douglas Elliman’s Eklund | Gomes Team.

The Waldorf Astoria Hotel & Residences is designed by Carlos Ott with Sieger Suarez Architects as the architects of record. The developers also partnered with California-based interior design firm BAMO, which prides itself on creating captivating environments that flow, function and make people feel welcome, at ease and inspired to live and dream more fully. The tower will feature 205 hotel rooms and 360 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc. Amenities will include a resort-style pool deck, a fitness center, a spa, a high-end restaurant, a lounge dubbed Peacock Alley, and multiple event spaces.

“The unique nature of this project largely comes from not only creating an iconic building, but a distinguished sculpture that would permanently alter Miami’s skyline with height and design never seen before,” said Carlos Ott, concept designer.

“It has been an absolute pleasure working with PMG, Hilton and the entire project team of very talented professionals to design this truly remarkable building in which every detail has been carefully considered and meticulously designed,” said Peter Politis, CEO Greybrook Realty Partners. “We are very excited for the reveal of this iconic building that is a symbol of Miami’s growing prominence on the world stage and is sure to attract discerning buyers seeking a luxury lifestyle experience that is in a league of its own.”

Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others. PMG also recently launched E11EVEN Hotel & Residences in Downtown Miami across the street from E11EVEN Nightclub. The tower will rise 65-stories and features 375 fully-furnished condo-hotel units which start at $385K. The project is reportedly already 70% sold-out after launching sales in late-January 2021.

Renderings via ArX Solutions

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Bayfront Supertall Tower Waldorf Astoria Hotel And Residences To Launch Sales In March

PMG and Greybrook Realty Partners are gearing up to reportedly launch sales at Waldorf Astoria Hotel & Residences in March. A 6,144 square foot sales center is near completion nearby at 400 Biscayne. Waldorf Astoria Hotel & Residences is a luxury supertall tower which is slated to come to Downtown Miami at 300 Biscayne Blvd. At 100-stories the tower will be the tallest ever to launch sales in Miami, rising 1,041’. The tower is expected to have a sell-out over $1 billion.

The Waldorf Astoria Hotel & Residences is designed by Sieger Suarez Architects and will feature 205 hotel rooms and 400 condos. The project will be the first in Miami to feature the Waldorf Astoria brand which is owned by Hilton Worldwide Holdings, Inc.

Downtown Miami has seen a surge in luxury condos in the past few years with a selection of high-end offerings since the completion of Ten Museum Park in 2007, which the first of its kind in the neighborhood which now includes One Thousand Museum, Aston Martin Residences, Marquis Residences, Epic Hotel & Residences, amongst others.

For more information about The Estates at Acqualina, private showings or purchasing/ leasing information please fill out the form below:

PMG Locks Down $161.5 Million Construction Loan For 400 Biscayne

PMG and Greybrook Realty Partners have locked down a $161.5 million construction loan for the development of 400 Biscayne. The financing was provided by Centennial Bank and Square Mile Capital, the same group that provided the loan for PMG’s neighboring and completed project X Miami. Andrew Warman, Jonathan Blank and Lowell Plotkin led the PMG to securing the financing with Luis Flores of Saul Ewing Arnstein & Lehr as the attorneys representing the partnership between PMG and Greybrook Realty Partners.

“We are working hand-in-hand with First United Methodist Church and Greybrook Realty Partners to create something special for the neighborhood, which will continue to foster growth and connection in this city we love,” said Ryan Shear, a Managing Partner at PMG.

400 Biscayne broke ground in June 2019 and when complete will rise 49-stories with over 1 million SF of total development. The tower will feature 646 rental apartments, 51,000 SF of commercial space and 22,000 SF of space which is dedicated to the First United Methodist Church of Miami. 400 Biscayne will feature a lounge and restaurant in the lobby, co-working spaces, gym, pool deck and outdoor lounge, amongst other amenities. The First United Methodist Church of Miami will feature a chapel, fellowship hall, chassrooms, offices, 3-story sanctuary with views of Biscayne Bay and a basketball court. 400 Biscayne is expected to be completed at one point in 2021.

PMG & Greybrook Realty Partners To Begin Demolition On 400 Biscayne

PMG and Greybrook Realty Partners have filed an application for a demolition permit to begin work on 400 Biscayne. The developers will demolish the 27,984 SF First United Methodist Church and BG Group has been listed as the demolition contractor. PMG & Greybrook Realty Partners will build a 750' tower with 704 residences and will later build a second phase which is not yet announced. The First United Methodist Church will occupy a retail space in the new 400 Biscayne when complete.