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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AB Asset Management Acquires Residence Inn Coconut Grove From Hersha Hospitality Trust

AB Asset Management has acquired the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s vibrant Coconut Grove neighborhood. The 2 acre property sold for $31 million, which breaks down to roughly $221,429. The seller was Hersha Hospitality Trust, led by Neil and Jay Shah. The transaction was overseen by Avison Young’s Florida Capital Markets Group led by Avison Young Principals John K. Crotty, CCIM; Michael T. Fay, who is also Managing Director of the firm’s Miami operations; David Duckworth; Vice President Brian C. de la Fé; and Associates Emily Brais and Berkley Bloodworth. AB Asset Management LLC is managed by Getzy Fellig and Sam Zalmanov.

“The Residence Inn received strong interest because of its Coconut Grove location near the newly renovated CocoWalk retail and dining destination, the 750,000-square-foot mixed-use Mayfair in the Grove development, and several other exciting new projects that contribute to the area’s live-work-play appeal,” said Crotty.

Situated at the intersection of Tigertail Avenue and Mary Street, the property sits on over two acres at the entry-point of the Grove’s business district, just a few minutes walking distance from shopping, dining venues, and multiple parks overlooking Biscayne Bay. The neighborhood has proven itself as a destination for high-end condominium use, with recent high-rise developments Park Grove, Grove at Grand Bay, and Mr. C Residences.

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:

Avra Estiatorio Coming To The Estates At Acqualina In Sunny Isles Beach

Avra Estiatorio of New York and Beverly Hills has announced that it will be opening a new restaurant overlooking the beach at The Estates at Acqualina in Sunny Isles Beach, one of the most luxurious South Florida waterfront resort and residential complex’s South Florida has ever seen. The opening will mark the 4th Avra restaurant in the US, following Avra Madison and Midtown in New York City and Avra Beverly Hills.

Scheduled to open in late 2021, the 10,000 square-foot Greek estiatorio was designed by the award-winning STA Architectural Group. The airy space has a distinctly sophisticated, yet warm character and features floor-to-ceiling windows, high ceilings and a glamorous aesthetic. Diners will be able to hear the sounds of the waves crashing while they eat alfresco and savor oceanfront views, and a meal at the restaurant will offer a transportive experience.

The menu at Avra Estiatorio will offer a menu that focuses on Mediterranean-sourced seafood and traditional platter-style entrées made with imported ingredients. Greek specialties includ fresh fish, grilled or baked in salt and a selection of raw seafood over a dozen line-caught fish, beautifully displayed on an ice bar which is sourced directly from the nets of fisherman in Greece and will be flown into Miami daily. The menu will also feature a selection of Greek specialities salads, cheeses, tzatziki, spanakopita, octopus carpaccio, lamb chops and filet mignon. Every dish is finished with fruity, full-bodied olive oil, bottled exclusively for the restaurant from olives in Greece that are handpicked from ancient groves and pressed within three hours of harvest.

Avra will be located inside Villa Acqualina, a Mediterranean-inspired villa that’s the heart of The Estates with its many amenities including a spa, gym, movie theater, ice skating rink, a speakeasy style bar, a bowling alley and more.

The Estates at Acqualina will be home to 248 ultra-luxury residences delivering an exquisite living experience within a private gated community. Each estate in the sky with wide open views of the ocean will be equipped with the finest appliances, imported stone countertops, smart-home technology and 10-foot 6-inch ceilings and many will be delivered furniture ready. The development will feature lobbies created by the late fashion icon Karl Lagerfeld.

Those who purchase at The Estates will also have access to the neighboring Forbes Five Star and AAA Five Diamond Acqualina Resort & Residences. Residents will be able to take advantage of luxurious, personalized services from the resort, including children’s programming, nanny and child care services, pet care, dry cleaning and laundry services, limousine service, ESPA Spa access and additional dining options at three restaurants, Il Mulino New York, Costa Grill and the new Ke-uH Japanese fusion restaurant.

Residences at The Estates at Acqualina are priced from $4.6 to $14 million with penthouses priced up to $35 million. Construction began in early 2018 and will be completed in late 2021 to early 2022.

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First New Miami Building Breaks Ground in 2021

On Thursday, February 11th, Natiivo Miami - the first building purposefully designed, built and licensed for homesharing - officially broke ground in Downtown Miami. This event marked the first residential/hospitality groundbreaking post-pandemic and the first of 2021.  The building, in the heart of Downtown Miami, is slated to top off in August 2022 and completion is projected for Q3 of 2023.

Hospitality entrepreneurs Keith Menin and Marisa Galbut, developers of Natiivo Miami, spoke alongside Mayor Suarez to brokers, friends and family to mark this revolutionary development’s milestone of forging ahead with construction. Remarks were also made by Russell Galbut, Managing Principal of GFO Investments; and leaders from Natiivo’s exclusive sales team, Cervera Real Estate, including Alicia Cervera, Managing Partner;  Ali Paysse Cervera, Sales Director; and Jesse Ottley, President of Development.

Guests enjoyed live music by Brothers of Others, and coffee, pastries and light bites by Natiivo Miami’s culinary partners, Bodega and Dolce Italian. 

After coming to market in the summer of 2019, Natiivo™ Miami’s exclusive sales team, Cervera Real Estate, has successfully sold over 60 percent of the Natiivo™ Miami residences. The team has leveraged its knowledge of the Miami market and international experience, selling over 220 units in 2020, despite facing unprecedented circumstances.

Natiivo™ Miami is a vertically-integrated community that incorporates 448 condominium residences, 140 condominium hotel residences, a 100 unit hotel, a private social club called Natiivo™ Social, with 70,000 plus square feet of amenities, with a culinary experience curated by LDV Hospitality, and Creative HQ that includes 127 for-sale office condos, all under one roof. The development recently announced the addition of three coveted Miami brands, Dolce Mercato, also from LDV Hospitality, offering authentic Italian cuisine with the feel of a sophisticated food hall and the charm and service of a sit-down restaurant; Bodega Taqueria, South Florida’s iconic spot known for its authentic Mexican street food; and Gale Miami Hotel and Residences, the third Gale Hotel property in South Florida.

“With the migration to South Florida and the recent announcements of high-profile tech and finance companies relocating to and expressing interest in Miami, the continued growth of Downtown is imminent,” said Keith Menin. “We are confident that Natiivo™ Miami will play an integral role in this growth and are excited to forge ahead in construction. We’re optimistic for 2021 and hope to set the tone for the Downtown Miami market with the first groundbreaking of the year.”

Michelin-Starred Korean Barbecue Restaurant COTE Opens In Miami Design District

COTE, the Michelin-starred and James Beard Award-nominated Korean Steakhouse™ by Simon Kim, has opened at 3900 NE 2nd Ave in Miami Design District. The opening is COTE’s first location outside of New York City since opening in 2017. COTE in Miami Design District spans a 5,892 square foot location offering 100+ seats in the dining room.

The interior was designed based on the New York City location by MNDPC and includes a lavish oval-shaped bar, red light dry-aging room, blue chip modern art and two private dining rooms. COTE offers an interactive dining experience with table-side smokeless grills with an exhaust system which ventilates air at 6.6X more frequently than standard restaurants. COTE has also installed a state-of-the-art Paragon Dedicated Outdoor Air System (DOAS), which continuously replaces indoor air with fresh air from the outdoors.

COTE’s menu includes 45-day, dry-aged beef which is prepared at the table on the smokeless grills. The menu also includes the highest grade of prime cuts and American wagyu that is dry-aged in the restaurant’s on-site red light dry-aging room. Meats are seasoned with COTE’s Signature Gastronome’s Salt, a proprietary salt blend composed of British Maldon salt, Himalayan pink salt, and Korean thousand-day sea salt. COTE also offers two tasting menus, The Butcher’s Feast® and a 10-course Steak Omakase™. COTE also offers an award winning beverage program curated by James Beard Award-nominated beverage director Victoria James and master sommelier Mia van de Water.

COTE is part of the influx of New York-based restaurants to recently open in Miami including Carbone and Osteria Morini.

Related Group Planning Baccarat Hotel & Residences At 444 Brickell

Related Group is reportedly planning to develop Baccarat Hotel & Residences at 444 Brickell. The project would feature three Baccarat-branded, Arquitectonica-designed residential towers on the Miami River where Related Group had previously planned a project known as One Brickell. Related Group acquired the 4-acre property in 2013 for $104 million which currently has an office building and Capital Grille.

Related Group has approvals for three towers would rise 57-stories, 77-stores and 82-stories. The mixed-use residential towers would offer 1,400 residential units, 249 hotel rooms, 41,272 square feet of office space, 24,263 square feet of retail space and over 1900 parking spaces. Amenities will include a resort style pool, spa, fitness center, business center and lush landscaping by Enzo Enea. Related Group will also build a riverwalk as part of their commitment to the City of Miami.

Baccarat is a French manufacturer of fine crystal glassware which is majority-owned by Groupe du Louvre, a subsidiary of the United States company Starwood Capital Group, led by Barry Sternlicht. Baccarat currently has their Baccarat Boutique B Bar and Lounge in Miami Design District and The Baccarat Hotel & Residences in New York.

Osteria Morini Miami Beach Opens In Finvarb Group's Recently Opened Kimpton Palomar South Beach

Award-winning New York-based Altamarea Group, the global hospitality company behind Michelin star-rated Marea and Ai Fiori, as well as Osteria Morini and Nicoletta brands, has officially opened Osteria Morini Miami Beach. The restaurant is located within the Kimpton Palomar South Beach, with a separate, waterside entrance along the Collins Canal on Alton Road. Conveniently nestled between the Sunset Harbour and West Avenue neighborhoods, Morini aims to appeal to locals in the Miami Beach community. Morini Miami Beach joins locations in New York City, Long Island, New Jersey and Washington, D.C.

“After a long search, we found the right balance of neighborhood, community and Miami vibe in this location, and we’re thrilled to finally open the doors of Osteria Morini Miami Beach,” said Ahmass Fakahany, Altamarea Group founder and CEO. “Morini is your year-round neighborhood restaurant, and we were very selective about choosing a location that appeals to residents while still catering to visitors and hotel guests. Our clientele spans the globe, and recently, many have moved south or visit often. They know they can count on Morini, and we look forward to introducing our quality and vibrant style of dining to those we haven't met yet.”

Altamarea Group partnered with Finvarb Group, the owner and developer of the Kimpton Palomar South Beach, to bring Osteria Morini Miami Beach to fruition.

“We're confident that through Kimpton's collaboration with Altamarea Group, along with our collective expertise in the South Florida market, we'll be able to create an amazing experience for hotel guests and Miami locals alike,” said Ronny Finvarb, principal of Finvarb Group.

Led by Corporate Executive Chef Bill Dorrler, who has launched all Morini restaurants, and Altamarea veteran Chef de Cuisine Julio Cesar Ramos, the menu highlights the soulful cuisine and convivial spirit of Northern Italy's Emilia-Romagna region with authentic, high-quality dishes in a warm, inviting atmosphere.

"We’re bringing many of Morini’s trusted favorites to Miami, and we’re excited to adapt part of our menu to align with the local vibe and Miami lifestyle with some new, lighter options as well," said Altamarea Group Corporate Executive Chef Bill Dorrler. "This is my fifth Morini opening, and Chef Ramos and I are particularly looking forward to incorporating Miami flavors and products – think locally caught seafood and the freshest Florida produce – creating the perfect balance of cuisine and cocktails."

Designed by New York City-based nusla design, the 3,700 square-foot space has an intrinsically ‘Miami-meets-New York’ feel that combines the rustic design of an Italian farmhouse with clean lines and floor-to-ceiling windows spanning the yacht-shaped building. The buildout features modern elements with red brick and wood to clad the walls and ceiling, and Morini’s trademark floating Italian Murano glass-domed lights that dot the dining room, creating a soft amber glow. The dining room has seating for 100, bar seating for 15 and al fresco dining on the canal-front patio space for 45. Private dining with seating for up to 20 is also available.

RFR Holding And Tricap Partnership Acquire 12 Units At W South Beach For $10.78 Million

A partnership between Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap, who also co-developed W South Beach, have closed on the purchase of 12 units at the iconic beachfront condo-hotel for $10.78 million. The acquisition was financed with a $6.9 million loan from Citibank and Deutsche Bank and brings the partnership’s holdings to 225 units at the condo-hotel and plans to roll the newly acquired units into the hotel program.

The seller was a group of entities tied to Ralph and Joseph Nakash who initially purchased the units in 2014/ 2015 for roughly $9.85 million. The Nakash family are the owners of Jordache Enterprises which owns the Versace Mansion and Setai Miami Beach Hotel.

The deal was in the spotlight in the summer of 2020 after the RFR and Tricap partnership nearly did not close on the units during the COVID-19 pandemic and sued for their deposit back. The dispute was reportedly solved amicably.

The 20-story, 408-key W South Beach was developed in 2009 and just underwent an eight-month, $30 million renovation. W South Beach is located at 2201 Collins Ave.

PPG Development Acquires TRYP by Wyndham Miami Bay Harbor Hotel For $30 Million

PPG Development, led by Ari Pearl, has acquired TRYP by Wyndham Miami Bay Harbor Hotel for $30 million, roughly $312,500 per key. The acquisition was financed by a $26 million short-term mortgage provided by Arbor Realty SR. TRYP by Wyndham Miami Bay Harbor Hotel is located in the Bay Harbor Islands at 9540 W Bay Harbor Drive. The waterfront hotel was completed in 2018 and features 96 rooms spread over seven-stories totaling 111,063 square feet. The hotel also features a rooftop pool, bar, ground-floor restaurant, meeting room and fitness center.

The TRYP by Wyndham Miami Bay Harbor Hotel previously faced $25 million foreclosure lawsuit but the case was ultimately dismissed and the mortgage was satisfied.