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 residence has achieved over 85% in sales, with the majority of owners actively participating in its short-term rental program.
The development’s distinct offering, providing owners the flexibility to rent their units for short-term stays and day rentals through The Elser Hotel & Residences Owners Program, has been a key driver of demand in this niche market. It has particularly resonated with buyers from Latin America and other regions across the U.S. seeking to leverage Miami’s growing travel and tourism industry. According to The Greater Miami Convention and Visitors Bureau, Miami-Dade County welcomed an astounding 26.5 million visitors in 2022, 19.2 million of whom sought overnight accommodation.1 This surge in visitors contributed to a notable 8% year-over-year rise in hotel occupancy and a substantial 29% increase in hotel revenues.1 Currently, Miami-Dade County holds the distinction of having the fifth-highest occupancy rate nationwide, trailing only behind destinations such as Hawaii, New York, Orlando, and San Diego.Since commencing full operations last June, the property’s Highgate-managed hotel program has garnered exceptional guest reviews along with strong average daily rates and occupancy levels for unit owners. Its appeal as a top accommodation in Miami earned it Tripadvisor’s prestigious Travellers’ Choice U.S. ‘2023 Best of the Best’ New Hotels award, a distinction given to properties with an exceptional volume of positive reviews and opinions from its online community. With less than 1% of Tripadvisors’ 8 million listings receiving this accolade, it underscores the remarkable strength of The Elser Hotel & Residences Miami’s unique value proposition.
Miami’s status as an international business hub and world-class metropolitan destination has positioned the city as one of the world’s most desired real estate markets. Its diverse population, world-class amenities, and thriving arts and entertainment scene further contribute to its allure as a destination for both residents and visitors alike. Over the past decade, its metro population has grown by approximately 9.46% to a total of over 6.3 million residents.2 Between 2022 and 2023 it welcomed a total of 43,387 new residents, landing it in the nation’s top 10 for the largest population gain among metro areas last year.3
Nestled within the vibrant landscape of Biscayne Bay, The Elser Hotel & Residences Miami stands as an experience of luxury living. Its iconic design caters to those seeking a high-end, refined residential experience characterized by convenience, luxury, and an emphasis on health and wellness. The turnkey property features a collection of 646 fully furnished residences and an array of state-of-the-art amenities, including an expansive double-level amenity deck overlooking Biscayne Bay and Downtown Miami that spans over 19,000 square feet, a 132-foot resort-style pool featuring a 16-foot poolside LED screening wall, a Sky entertainment lounge, and much more.
Greybrook has been investing in real estate developments in Florida since 2015, with our first investment in the development of the iconic Waldorf Astoria Hotel & Residences Miami, followed by our social apartment communities Society Las Olas, and Society Wynwood. The success of this development further underscores our commitment to delivering exceptional projects in South Florida, which will continue to be an area of investment focus for Greybrook as we look to expand into additional residential asset classes.
With interest rates elevated, higher costs, and policy hurdles mounting, Greybrook CEO Peter Politis joined The Your Life! Your Terms! Show on the “How Billion Dollar Developers See Canadian Real Estate In 5 Years” episode to discuss what these shifts…
The 6th Annual Velo Blu charity ride returned to Peller Estates Winery in Niagara-on-the-Lake on September 19th, once again demonstrating the power of community commitment to life-changing medical research. This year’s inspiring event raised $360,000, bringing Velo Blu’s cumulative contribution…
On September 17th, Greybrook proudly celebrated the grand opening of our new Vancouver office with a special lunch event at Seasons in the Park restaurant. The occasion was a great success and a celebration of Greybrook’s established presence in the Vancouver area.…
Greybrook announced today the acquisition of Terra at Piney Point, a 246-unit garden-style apartment community situated between Houston’s Galleria and West Houston neighborhoods, adjacent to Piney Point Village, one of Texas’s most affluent communities for the purchase price of US$35,600,000.(1)…
Yesterday, Greybrook proudly took part in the 16th Annual Constantine Yorkville Run, joining 1,200 dedicated runners and walkers to raise vital funds for over 30 local charities in Toronto. This longstanding community-driven 5K event has raised more than $5.4 million…
Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $31,525,000. This investment will support the acquisition and management of a development spanning approximately 45 projected net developable acres, located at 10378…
Since announcing our investment in the Yonge and Eglinton project earlier this year, our team – together with long-standing partner Stafford Homes – has been moving purposefully through the early stages of development. Located at 29–45 Berwick Avenue, just west…
Following a landmark crane installation last year, construction at 138 Yorkville, our ultra-luxury high-rise development located in Toronto’s Yorkville neighbourhood, is progressing well. In recent months, the construction team has made steady progress on the underground levels, completing the major…
Sales have officially launched for Brooklin Vue, our low-rise development in partnership with Treasure Hill. This new residential community is located in the historic village of Brooklin, Ontario, and offers an exclusive collection of two- and three-storey modern townhomes along…
We’re proud to announce that Elite Traveler magazine has featured 138 Yorkville in its Leaders in Luxury: Summer 2025 edition. Known for showcasing the pinnacle of global luxury, the magazine has recognized 138 Yorkville as one of the world’s most…
