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.
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…
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…
The townhome development has added 114 units to the highly sought-after community of Thornhill. The expanding suburb is in the rapidly growing City of Vaughan which welcomed the largest number of new residents in the York Region during the most…
Complete with popcorn and concessional snacks, this year’s internal event was an opportunity for the Greybrook team to reflect on the achievements and milestones we have accomplished together while looking forward to the year ahead and beyond.Over the past year,…
With the construction of all homes in our Kingsview Ridge community complete, home occupancies continue as we welcome the remaining homeowners to their new homes in this low-rise community. Developed in partnership with Treasure Hill, Kingsview Ridge has brought 305…
In celebration of International Women’s Day 2024, Greybrook hosted a virtual fireside conversation on Thursday, March 7th joined by guest speaker, Manica Blain who shared her career and entrepreneurial journey—and how the power of having a clear vision and forging…
We are committed to enhancing our corporate capabilities to support the success of our growing portfolio of investments and to deliver an exceptional experience for our growing base of individual and institutional clients. In line with this commitment, we’re pleased…
With construction of our Colgan Crossing community progressing rapidly over the past year, we were very pleased to begin home occupancies and welcome the first homeowners to their new homes in this brand-new community in late 2023. Our 191-acre master-planned…
In a groundbreaking announcement last month, it was revealed that Amazon MGM Studios will assume the exclusive lease for Pinewood Toronto Studios situated in the heart of the city. This multi-year commitment grants Amazon MGM Studios control over five expansive…
We invite you to watch a video walkthrough of our Lindsay Heights project, with developer partner Tribute Communities. Take a stroll through our meticulously designed 36′ and 20′ homes and catch a glimpse into the distinctive features and contemporary charm…
