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The Elser Hotel and Residences
(Miami II)

Greybrook invested equity capital alongside PMG and is overseeing their development of the project in Downtown Miami.

Located at 398 NE 5th Street, the property features unobstructed waterfront views of Biscayne Bay, Miami Beach, South Beach and the Atlantic Ocean. The hotel and residences will provide future tenants convenient access to everything the Downtown Miami core has to offer. The property is adjacent to Bayside Marketplace, Bayfront Park, and FTX Arena.

Equity Investment:
Asset Type:
Total Units:
Over 690 Residential Units
Developer Partner:
Completion Value*
*Total completion value estimated at time of investment.
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Project News

Anticipating the Completion of Over 1,700 Home Closings Across Our Portfolio in 2024

March 26, 2024

Across our portfolio, we completed over 1,600 home closings last year both in Ontario and South Florida, with the momentum continuing into 2024 with over 1,700 homes set to occupy and close throughout the year. Whether it is a single-family…

The Elser Hotel & Residences Miami is Over 85% Sold

March 25, 2024

Our 49-storey luxury condominium with developer partner PMG continues to garner interest from both local and international buyers eager to leverage its appealing hotel-condominium program, which commenced operation last summer. Since its late 2022 launch, the downtown Miami hotel and…

Florida’s Rapid Growth – People and Businesses Are Migrating to the Sunshine State in Droves

March 30, 2023

Since we began investing in Florida, we have watched the Sunshine State grow significantly, benefiting from consistent migration to the state and a transformation of cities and key markets along the east coast. With a population of over 22.2 million…

The Elser Hotel & Residences Miami Successfully Closes on $80M in Sales in Less Than 60 Days

Portfolio Updates
January 20, 2023

Greybrook and PMG are pleased to announce The Elser Hotel & Residences Miami, a 49-story new construction luxury condominium located at 398 NE 5th St., has successfully closed on $80 million in sales in less than 60 days. This immense…

An Inside Look at The Elser Hotel & Residences Miami

Portfolio Updates
November 29, 2022

On November 17th the Development Team celebrated the official launch with a ribbon-cutting ceremony that also marked the launch of the hotel component at The Elser alongside our partner, PMG, and industry leading hospitality management company, Highgate. The hotel welcomed…

Society Biscayne Converted to The Elser Hotel & Residences Miami

Portfolio Updates
July 27, 2022

Miami has demonstrated exceptional market fundamentals, with accelerated corporate and population relocation in recent years. The demand surge has not been met with commensurate housing supply growth resulting in pronounced price increases for housing that has even outpaced rent growth.…

Society Biscayne Has Topped Off in Downtown Miami

Portfolio Updates
June 6, 2021

Building top-off is a major construction milestone in the development of high-rise towers. In Q2 2021, our 49-storey Society Biscayne development – one of a growing number of Greybrook’s Society Living rental communities in development across the US – topped…

Inside Look at Society Living in The Wall Street Journal

October 15, 2020

Our Society Living communities with partner PMG have been designed to enable meaningful connections in bustling urban centres.  Built around the four principles of culture, growth, wellness and togetherness in order to create a strong sense of community, our recently…

Podium Level Topped Off at Society Biscayne

Portfolio Updates
June 25, 2020

Our social living development, Society Biscayne, at 400 Biscayne Boulevard continues to rise as construction advances since our last update.  The building’s 14-storey podium  has officially been topped off, which will house future retail and be home to the First…

Society Biscayne Rises Above Ground

Portfolio Updates
March 30, 2020

Construction at Society Biscayne, one of our three social living communities with partner PMG, has been progressing quickly with a notable amount of progress on site since our last update.  In recent months two hammer cranes have been installed and…

Our South Florida Multi-Family Portfolio Rebranded – Society – PMG’s New Multi-Family Brand Collection

Company News
January 6, 2020

Developer partner PMG recently unveiled their latest multi-family brand collection, Society. A platform of socially-focused apartment communities, Society addresses the strong demand for attainably priced rental housing in attractive urban locations across the U.S. Complementary to sister brand, X Social Communities (XSC),…

Construction Continues at X Biscayne

Portfolio Updates
October 16, 2019

The shoring and excavation program for our X Biscayne project, in partnership with PMG, has been progressing well since our last update. Following the official ground-breaking ceremony in July, recent aerial images show the progress of the foundational work on…

Redefining Urban Living with Greybrook and PMG’s Social Living Platform

September 12, 2019

 In this video Greybrook Realty Partners CEO, Peter Politis and Greybrook Securities CEO, Sasha Cucuz alongside PMG Principal, Ryan Shear share their insights on the latest platform that is redefining the concept of social living in major urban centres…

Photos Capture X Biscayne Progress From The Air

Portfolio Updates
July 31, 2019

We are pleased to share our first aerial photos of our X Biscayne development. After the project’s recent ground-breaking ceremony, hosted by our developer partner Property Markets Group (PMG), we are excited to see the project’s shoring and excavation program…

X Biscayne – Miami’s Latest Co-living Project Breaks Ground

Portfolio Updates
June 28, 2019

Greybrook is thrilled to announce the official groundbreaking for our X Biscayne development with Property Markets Group (PMG) took place earlier this week. Marking the start of construction, the groundbreaking ceremony was led by PMG’s Principal, Ryan Shear, followed by…

Stunning Renderings of Greybrook’s X Biscayne Miami Development hit the Media

Portfolio Updates
April 15, 2019

Renderings of Greybrook’s X Biscayne Miami development in the heart of Downtown Miami have hit the media and paint an exciting picture of what’s in store for future tenants and the neighbourhood. The building will house 646 apartments, over 47,000…

Demolition at X Biscayne Complete

Portfolio Updates
February 14, 2019

X Biscayne (400 Biscayne Blvd.) Site Cleared for Construction Demolition of the structure at 400 Biscayne Boulevard has been completed and the site is being prepared for the next steps in the construction process. Plans for the site include the…

Miami II branded X Biscayne, demolition underway

Portfolio Updates
August 1, 2018

We are pleased to share that our 400 Biscayne development with developer partner Property Markets Group (PMG) has been branded X Biscayne. Part of PMG’s growing portfolio of X Social Communities,  X Biscayne will provide residents with a fun and…

Experience Social Living at X Miami

July 22, 2018

X Miami is taking residential rental living to a whole new level with their fun and unique amenities. The latest development from Greybrook’s developer partner on 300 Biscayne, 400 Biscayne and X Las Olas, Property Markets Group (PMG) is offering…

Miami II Property Closing Complete

Portfolio Updates
January 19, 2018

We are pleased to share that the property closing of our Miami II development with Property Markets Group (PMG) took place on January 18th. PMG issued a press release regarding the funding of our development at 400 Biscayne Boulevard, which…

Greybrook Realty Partners Makes an Initial Investment of CDN$40,484,720 in a Residential Development Project with Property Markets Group in Miami, Florida

Company News
October 12, 2017

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Greybrook Realty Partners Inc. announced today the successful closing of an initial equity investment by its managed issuer of CDN$40,484,720. On the scheduled closing date, the…

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