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.
The prospect of a trade war that could disrupt the North American economy is on hold – for now. U.S. President Donald Trump has agreed to delay imposing 25% tariffs on Canada and Mexico for 30 days, easing immediate concerns…
The Elser Hotel & Residences continues to meet the demand of Miami’s evolving real estate market, with over 95% of its units now sold. Its exceptional amenities, prime location, and attractive hotel rental model remain key drivers, drawing discerning owners…
Sasha Cucuz, CEO of Greybrook Securities, recently appeared in Episode #83 on the beyond MD podcast. Hosted by Dr. Yatin Chadha, a radiologist based in Toronto, this popular podcast aims to enhance financial literacy among Canadian professionals, namely physicians, dentists, and…
The advancement of vertical construction marks a significant milestone for the iconic Downtown Miami residence, which will set a new standard in luxury condominium living and architectural design in the renowned city. Beyond its striking 9-staggered cube silhouette, the one-of-a-kind…
We are delighted to announce the successful sales and closings of all residential and commercial inventory at our Stockyards District Residences. This achievement signifies a major milestone for the project. With only a limited number of parking spots and lockers…
As we reflect on the last year, we proudly celebrate our team’s achievements across our organization and diverse portfolio of over 110 projects. In 2024, we remained focused on driving progress and adapting to shifting market dynamics, demonstrating our commitment…
On December 20th, Greybrook successfully closed on a $42,000,000 investment completed by its managed issuer. The funds will be used to acquire and oversee the development of a prime parcel of land located at the intersection of Warden Avenue &…
Greybrook is proud to share our support towards the revitalization of The City of Cambridge’s Preston Memorial Auditorium. This contribution will play a crucial role in the ongoing renovation and expansion of the recreational facility, which will continue to serve…
This past fall, the 5th Annual Velo Blu charity ride for Blu Genes took place, bringing together over 140 participants and raising more than $400,000 for gene therapy research. Set at Peller Estates Winery, this unforgettable event highlighted the power of community…
Since its launch last October, the low-rise, master-planned community—developed in partnership with Tribute Communities—has continued to attract interest from prospective buyers eager to experience the small-town charm of Lindsay. Now, with the grand opening of the showhomes, buyers have the…
