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.

PROFILE Exclusive Podcast Season 1 Episode 7 Featuring Ryan Shear of PMG

Season 1 Episode 7 of the PROFILE Exclusive Podcast by PROFILEmiami features Ryan Shear, Managing Partner of PMG. PMG is a national real estate development firm with offices in Miami and Manhattan, specializing in new construction commercial and residential projects. For nearly 30 years, PMG has led the acquisition, financing, development, construction, and marketing for 85 residential buildings and over 150 real estate projects including 111 West 57, Muse Sunny Isles, Echo Brickell, and X Miami, amongst others. PMG is currently developing The Waldorf Astoria Hotel & Residences Miami, E11EVEN Residences and Society Biscayne.

A Miami-native, Ryan is responsible for all company operations. Ryan was personally trained by PMG founder Kevin Maloney after arriving at PMG shortly after college. He currently manages a growing portfolio of over $10 billion worth of real estate assets. Ryan oversees PMG’s developments across the United States, which primarily includes ground up Condo and Multifamily projects in core cities such Miami, New York, Denver, Phoenix, Orlando and more.

The PROFILE Exclusive Podcast by PROFILEmiami, the leader in South Florida residential and commercial real estate news and content, profiles and gets intimate with the movers and shakers in the South Florida real estate industry. Throughout the series we will interview and get inside the minds of South Florida's top developers, investors, brokers, architects, designers, etc. The PROFILE Exclusive Podcast is hosted by Demetri Demascus Co-Founder of PROFILEmiami and Director of Business Development at private equity group Galium Capital as well as Katya Demina, Co-Founder of PROFILEmiami and Development Associate at development firm Royal Palm Companies.

This Podcast is Presented By:

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.

PEOPLE TO WATCH: Meet Our Panelist Ryan Shear, Managing Partner of PMG

Join us on March 5th at X Miami for People to Watch: Leaders in South Florida Real Estate, where Ryan Shear will be discussing how PMG stays innovative with creative housing solutions, how declining ownership is affecting the multifamily market and how he plans to build projects that will withstand the tests of time.

The developer currently has more than 5,000 units in the pipeline, including their largest multi-family project to date with over 900 beds. In December, PMG announced their latest concept, Society, the natural evolution of X Social Communities, as a response to the insatiable demand for attainably-priced, downtown rental communities. The new brand will debut with downtown mega-projects Society Las Olas (formerly X Las Olas) in Fort Lauderdale, Society Biscayne (formerly 400 Biscayne Boulevard) and Society Wynwood in Miami. 

Society is aimed at a broader demographic, unlike X, which is geared towards millennial. Only about 30% of Society buildings will be dedicated to co-living options, as opposed to 35% - 40% in X buildings.

Co-living has been an enticing model for residents, investors and developers alike, as urban cores continue to become saturated and the demand for housing skyrockets. Following the success of X Miami, the fastest building in Downtown Miami to lease up, PMG took lessons they learned from X Social Communities and augmented them. Society will focus more on community inclusivity and expanding their finish and furnish options, while also adding to the immersive and experiential aspects of the building.

As a managing partner of PMG, Shear is responsible for general company operations, vision and growth. For nearly 15 years, Shear has played an instrumental role in the company’s success in Miami and beyond. He currently manages a growing portfolio of over $4 billion in real estate assets across the country. Completed condo projects spearheaded by Shear include Echo Aventura, Echo Brickell and Muse Residences in Sunny Isles. In 2018, Shear announced PMG will be bringing The Waldorf Astoria Residences to Miami in 2020.

The group recently opened X Miami, a 464-unit multifamily social community pioneering the “Rent By Bedroom” model for Class A luxury apartments in the urban core, which became the fastest building to lease in Downtown Miami. PMG will continue to expand this multifamily model nationally under Shear's direction. A native of Miami’s Coconut Grove and alumnus of Emory University's Goizueta School of Business, Shear lives in Brickell with his dog Larry and enjoys pico de gallo with every meal.

Hear from Ryan on March 5th at People to Watch: Leaders in South Florida Real Estate. Get your tickets below.

Event Page: http://profilemiamire.com/profilemiami-presents-people-to-watch-leaders-in-south-florida-real-estate-x-miami

By Katya Demina