PMG Locks Down $115 Million Construction Loan For Sage Intracoastal Residences Fort Lauderdale

National developer PMG is pleased to announce they have secured $115 million in construction financing for Sage Intracoastal Residences Fort Lauderdale, a 28-story boutique condominium nestled along 200 linear feet of Fort Lauderdale’s Intracoastal waterway. Financing was provided by GoldenTree Asset Management. The transaction was led by PMG's Capital Markets team composed of Andrew Warman, Jonathan Blank, and Paton Marion in coordination with in-house counsel Lowell Plotkin, Lindsay Davis, and Scott Buscemi. Saul Ewing served as PMG’s transactional counsel, and Gibson Dunn served as GoldenTree Asset Management’s transactional counsel. The property broke ground last month and is slated for completion in late 2027.

“Fort Lauderdale is defined by its waterways and natural beauty, and we’re proud to have GoldenTree’s continued support as we advance Sage Intracoastal Residences on the waterfront,” said Dan Kaplan, Managing Partner at PMG. “Positioned between the New River and the Atlantic, this boutique development will deliver year-round access to premier dining, recreation, and leisure, complemented by elevated design and wellness-driven amenities. We commend our capital markets team for underscoring Sage Intracoastal’s value and remain focused on setting a new standard in Fort Lauderdale as construction moves forward.”

Sage Intracoastal Residences Fort Lauderdale consists of 44 elegantly appointed residences displaying unobstructed views of the Intracoastal and Atlantic Ocean, perpetually protected by the Bonnet House Museum & Gardens. Designed by Fort Lauderdale-based FSMY Architects with interiors curated by acclaimed design firm BAMO, the property will offer two-, three-, and four-bedroom private residences starting at 2,767 square feet. Expertly designed to enhance privacy, there will only be two units per floor and a doubled distance away from neighboring buildings.

Each carefully crafted residence will be equipped with the finest finishes and features to deliver a truly harmonious residential experience. These include soaring 10-foot ceiling heights, Italian kitchen cabinetry custom-designed by BAMO, floor-to-ceiling energy-efficient and impact-resistant glass sliding doors and windows to maximize natural light, expansive private terraces with summer kitchens and clear glass railings for unobstructed views, custom Italian entry and interior doors, smart home technology, high-end appliances, midnight bars in primary bedrooms, and more. The Sage Penthouse Collection will extend further luxury and convenience to buyers through taller residential ceiling heights and private rooftops with summer kitchens and plunge pools.

A thoughtful array of over 19,000 square feet of exceptional, private indoor and outdoor amenities will also be available to residents, including an integrated wellness circuit. The wellness circuit will center around the Sage Wellness Spa, a tranquil space equipped with steam, sauna, and cold plunge areas, private treatment rooms, private his and hers lockers, and a relaxation area with outdoor terraces. Additionally, residents will have access to a state-of-the-art fitness studio with the latest high-tech exercise equipment, a movement studio, and a yoga lawn. Beyond wellness, Sage Intracoastal Residences Fort Lauderdale will present residents with ample outdoor amenity space, allowing them to reap more of the benefits of their stunning waterfront location. Outdoor amenities include an expanded jacuzzi, a spacious waterfront resort-style pool with a lounge area, a grilling station with dining tables, a water view bar and lounge, and private luxe cabana suites. Indoors, residents will have access to a state-of-the-art golf simulator.

Services available to residents include a private residential porte-cochère with 24-hour valet service, a 24-hour front desk concierge, sports equipment storage, house bicycles, a dog run, dog walking services, package delivery, and valet parking. Sage Intracoastal Residences Fort Lauderdale will also feature the latest in smart-building technology, as well as semi-private elevators and private elevator foyers for each residence.

PMG Residential is the lead sales team for Sage Intracoastal Residences Fort Lauderdale, with Jaime Cristancho, and Laura San Jose exclusively representing sales for the project.

Images via ARX Creative

For more information about Sage Intracoastal Residences Fort Lauderdale or to inquire about purchasing a unit please fill out the form below:

Largest Penthouse In The United States Sold At Waldorf Astoria Residences Miami

The crown-jewel penthouse at Waldorf Astoria Residences Miami, which will become the largest penthouse in the United States high-atop Miami’s first supertall tower, has sold for an undisclosed price. The five-story, 33,000+ square foot “Mansion in the Sky” will be the tallest residential unit south of Manhattan. The sale was spearheaded by PMG Residential agent Paul Lash, who represented both the developer and the buyer.

The transaction marks an auspicious first for the future of real estate in Downtown Miami. The undisclosed buyer sought out an exclusive residential property, and he worked closely with Lash and the development team to design what will constitute the crown jewel of both the buyer’s personal real estate portfolio and the Miami skyline.

When finished, this one-of-a-kind “Mansion in the Sky,” suspended 1,050 feet in the air, will occupy the top five floors of the tower and enjoy unprecedented views as far as the eye can see. With just under 34,000 square feet, the residence will boast 10 bedrooms, 11 and ½ baths, and ceiling heights as high as 25 feet. Its impressive repertoire of over-the-top amenities will include, but not limited to: a wall-street-style trading room, safe room, billiards entertainment area, private movie theater, screening room equipped with two 90-inch theater screens, 3 wine cellars, full-scale bar, wellness center furnished with state-of-the-art equipment, massage rooms, infrared sauna, and a 20-car garage to house the owner’s extensive car collection. The mega-penthouse also exclusively possesses the tower’s private roof deck. On the roof, one will find: a large pool, swim-up tiki bar, 3 cabanas, an outdoor gym, and a multi-purpose court built for racquetball, pickleball and basketball. As of today, other features are being finalized for the owner.

“This penthouse sale is an indicator of the strength and tenacity of the luxury real estate market in Miami, and just how special Waldorf Astoria is to buyers and brand enthusiasts,” said Ryan Shear, Managing Partner of PMG. “We are confident in the continued momentum at Waldorf Astoria Miami, and know the property will completely elevate the standard of luxury living as we know it.”

Waldorf Astoria Residences Miami officially broke ground on October 27th, 2022 with completion slated for 2026.

PMG, along with partners Greybrook, Mohari Hospitality, S2 Development and  global hospitality company Hilton, have set out to create a landmark beacon for the city of Miami, marking Waldorf Astoria’s first entry into the Miami market. The vision is to bring an architecturally stunning structure to Miami’s iconic Biscayne Boulevard with meticulously designed residences and unparalleled services for residents and future guests of the hotel to enjoy. As the first supertall tower in Florida and the tallest residential building south of New York, Waldorf Astoria Miami looks forward to anchoring a new era for this magic city.

Located at 300 Biscayne Boulevard, the architecturally awe-inspiring Waldorf Astoria Miami will feature nine spiraling, offset glass cubes designed to be evenly stacked and wrapped in what can be referred to as a “glass skin,” distinguishing the property’s architecture from anything else on the East Coast. The tower’s concept design is led by Sieger Suarez Architects, in collaboration with renowned architect Carlos Ott, who worked in tandem to create an iconic structure in Downtown Miami offering 360-degree views of Downtown Miami, Miami Beach and the Atlantic Ocean. The developers also partnered with award-winning 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 property will consist of 360 private residences, in addition to guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center.

Waldorf Astoria Hotel & Residences Miami Becomes First Supertall Tower to Break Ground In Miami

The first supertall tower to come to Miami has broken ground as the developers of Waldorf Astoria Hotel & Residences Miami have begun drilling and foundation work for the luxury mixed-use tower which is set to rise 1,049 feet in Downtown Miami. Waldorf Astoria Hotel & Residences Miami is being developed by PMG, along with partners Canadian private equity firm Greybrook, global investment company Mohari Hospitality, S2 Development and global hospitality company Hilton (NYSE: HLT). Located at 300 Biscayne Boulevard, the soaring tower will rise 100 stories and 1,049 feet above Biscayne Bay, marking Miami’s first supertall tower and the tallest residential building south of New York City. This also marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria, in the Miami and South Florida market.

After coming to market in the spring of 2021, Waldorf Astoria Residences Miami has reached 87% sold, with over 50% domestic buyers, followed by significant activity from Latin American markets and other international markets. Remaining inventory primarily includes the Sky Collection within the eighth cube of the tower and penthouse residences within the ninth cube. The sales team, led by in-house firm PMG Residential, has leveraged its unrivaled knowledge of the Miami market and international expertise to complete over $1 billion in sales to date.

“The highly-anticipated groundbreaking of Waldorf Astoria Hotel & Residences Miami sets a new tone and new standard for development here in Miami. The market is thriving and projects like this are coming to life to meet the demand from our luxury audience,” said Ryan Shear, Managing Partner of PMG. “Working with our partners and the Hilton team behind Waldorf Astoria has been incredibly rewarding, and we look forward to continuing our upward momentum.”

The architecturally awe-inspiring Waldorf Astoria Hotel & Residences Miami will feature nine spiraling, offset glass cubes designed to be evenly stacked and wrapped in what can be referred to as a “glass skin,” distinguishing the property’s architecture from anything else on the East Coast. The tower’s concept design is led by Sieger Suarez Architects, in collaboration with renowned architect Carlos Ott, who worked in tandem to create an iconic structure in Downtown Miami offering 360-degree views of Downtown Miami, Miami Beach and the Atlantic Ocean. The developers also partnered with award-winning 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 groundbreaking of the Waldorf Astoria Hotel & Residences Miami is a very exciting milestone in this landmark project,” Sasha Cucuz, CEO Greybrook Securities Inc. “The success that has been achieved thus far is a testament to the caliber of our partners and the teams working on this development. We look forward to seeing this incredible building come to life and to be bringing the Waldorf Astoria to Miami.”

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 that strongly resonates with PMG’s core principles of creating innovative ways to offer a unique luxury living and lifestyle experience.

“Welcoming the Waldorf Astoria brand to the Miami market for the first time in our growing pipeline is an incredible milestone for us. The city has set the precedent for elevated experiences and rich culture, continuing to attract diverse and discerning travelers from around the world,” Dino Michael, Senior Vice President and Global Head, Luxury Brands, Hilton. “Residents and guests of the property are poised for an incredible one-of-a-kind experience, knowing that Miami is synonymous with luxury.”

Waldorf Astoria Hotel & Residences Miami will consist of 360 private residences, in addition to 205 guestrooms and suites within the luxury hotel, which will be located in the first three cubes of the tower along with the hotel’s signature spaces and private amenities. Hotel guests and residents will have access to the Waldorf Astoria brand’s world-famous Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function event spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a holistic wellness spa and fitness center. Private residential amenities will include an owners-only lobby and lounge; hospitality suite for chef’s tastings and intimate soirees; billiard room; kid’s club; and elevated pool deck. The residences will also 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 and dog walking services. Waldorf Astoria Hotel & Residences Miami will be managed by Hilton Management Services, offering residents and guests alike a truly refined haven through the brand’s relentless commitment to personalized service and best-in-class experiences.

“The groundbreaking of Waldorf Astoria Hotel & Residences Miami signifies much more than the property’s vertical construction. As Miami’s first supertall tower and Waldorf Astoria’s first entry into the city, this achievement further designates Miami as a global destination and sets a new benchmark for luxury real estate paired with superior hospitality,” said Kevin Maloney, President and Chief Executive Officer at PMG. “We could not be more honored to continue transforming Miami’s skyline with the iconic Waldorf Astoria Hotel & Residences Miami alongside our partners and prominent industry leaders.”

With luxury residential developments nationwide, PMG delivers impeccable attention to detail throughout each of its projects. The developer is notable for meticulously designed condominium developments such as 111 West 57th Street, Walker Tower, Stella Tower, 111 Leroy in New York City, Echo Aventura, Muse Residences Sunny Isles, Echo Brickell and Mei in South Florida, as well as E11EVEN Hotel & Residences Miami and The Elser Hotel & Residences in Miami. Currently, PMG is developing more than five million square feet of new development that will deliver sophisticated design, high-end finishes and premium quality.

Florida's First Supertall Tower Waldorf Astoria Miami Reaches 72% Sold Just Months After Launching Sales

PMG, along with partners Greybrook Realty Partners, Mohari Hospitality, S2 Development and global hospitality company Hilton (NYSE: HLT) have announced that Waldorf Astoria Miami has sold 72% of its residential inventory in 9 months since launching sales. Rising 100 stories and 1,049 feet above Biscayne Bay as the tallest residential and hotel building south of New York City, Waldorf Astoria Miami will become a landmark beacon for the city and an architectural wonder in Florida. The development also marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria, in the Miami market.

Buyers at Waldorf Astoria Residences Miami hail from across the globe with 55% of buyers being domestic, specifically from the Northeast, California and South Florida, and 45% of buyers coming from outside of the United States. The top international markets include Mexico, Russia, Colombia and Turkey. The sales and marketing success has been led in-house by PMG Residential, including 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.

“We could not have reached this incredible sales milestone without the help of our dedicated sales team and our development partners who have worked together to create a truly unique property that will set the standard for luxury living in South Florida,” said Ryan Shear, Managing Partner at PMG. “This achievement is a testament to the strength of Miami’s real estate market and the demand for the next generation of luxury condominium developments in South Florida. Miami is booming and quickly entering a new development cycle, and we are thrilled to be part of the Waldorf Astoria Miami’s legacy, which will forever transform the city’s skyline.”

Located at 300 Biscayne Boulevard, Waldorf Astoria Miami will feature nine spiraling, offset glass cubes that distinguish the property’s architecture from anything else on the East Coast. The tower’s concept design is led by Sieger Suarez Architects, in collaboration with renowned architect Carlos Ott, who worked in tandem to create an iconic structure in Downtown Miami. The developers also partnered with award-winning 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 property will consist of 360 private residences as well as 205 guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center. Waldorf Astoria Hotel & Residences Miami will be managed by Hilton Management Services, offering residents and guests alike a truly refined haven through the brand’s relentless commitment to personalized service and best-in-class experiences.

Waldorf Astoria Hotel & Residences Miami is expected to break ground in Q1 of 2022, with completion slated for 2026.

Images via ArX Solutions/ Waldorf Astoria Miami

Amenities

Sky Collection Residences:

Residences

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PMG Reveals Sky Collection At Waldorf Astoria Residences Miami

PMG has revealed the Sky Collection at Waldorf Astoria Residences Miami, a luxury supertall on Downtown Miami’s Biscayne Boulevard. Situated nobly above the clouds, the exclusive Sky Collection at Waldorf Astoria Miami is adorned with the most pristine, modern and luxurious touches synonymous with Waldorf Astoria’s legacy, reimagined for a home that exceeds even the highest of expectations. In collaboration with conceptual artists Carlos Ott and Sieger Suarez Architects, along with the brilliant minds at award-winning design firm BAMO, the team of visionary experts joined forces to craft a home that defies design tradition by paving a new path with unbridled elegance.

The Sky Collection is located within the eighth cube of the 100-story, 1,049’ tower. Sky Collection residences range from 2,454 square feet to 3,575 square feet and start at $4.9M. Sky Collection residences include primary suites with five-fixture en suite bathrooms, and media and entertainment breakout spaces. Residences will offer vast scenic views from floor-to-ceiling windows, french balconies and expansive terraces with summer kitchens. Down to the smallest details and finishes, each and every drop of this unit has been considered with the utmost of scrutiny and concern. BAMO has scoured the globe to source only the most coveted and brilliant textiles for floors, walls, countertops and beyond.

The Waldorf Astoria Residences Miami is located at 300 Biscayne Boulevard and is being developed by PMG, Greybrook Realty Partners and Mohari Hospitality, S2 Development. The soaring tower will rise 100 stories and 1,049 feet above Biscayne Bay as the tallest residential building south of New York City, offering expansive unobstructed views and a new architectural wonder in South Florida. This tower marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria, in the Miami market.

The property will consist of 360 private residences as well as 205 guestrooms and suites within the five-star hotel. Signature spaces will include Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a spa and fitness center. Construction is estimated to begin in March 2022 with completion in 2025.

Sales for the Sky Collection are led by PMG Residential.

Images via ArX Solutions

For more information about Waldorf Astoria Residences Miami, private showings or purchasing/ leasing information please fill out the form below: