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 sales volume marks the pivotal return of Latin American investment in South Florida, with 75 percent of sales coming primarily from Colombia, Mexico, and Chile, as well as the continued fervent demand for turnkey, new construction residences in the heart of Downtown Miami. The team has successfully completed closings with premier financial institutions such as City National Bank, Prime Equity and several others. PMG Residential is the exclusive sales team for The Elser Hotel & Residences.
“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,” said Sergio Pintos, Principal of PMG Residential. “The ability to now explore the best culinary, entertainment, and retail offerings all within footsteps of one’s home is extremely attractive to buyers. With so much available at one’s fingertips, it is no wonder that The Elser Hotel & Residences has experienced such a high volume of sales and successful closings in such a short time.”
Boasting unobstructed views of Biscayne Bay and sweeping views of the Miami skyline, The Elser Hotel & Residences Miami is designed by Sieger Suarez Architects with interior architecture and design by Cotofana Designs. The fully furnished residences range from studios to three-bedrooms spanning 404 to 1307 square feet. Managed by industry-leading management company Highgate, the property will allow owners to enter a short-term rental program with daily rental options through The Elser Hotel & Residences Owners Program.
“When The Elser Hotel & Residences was created, we wanted to invest in the area’s potential for new development and flexible living options,” said Ryan Shear, managing partner of PMG. “It is beyond exciting to see how receptive today’s buyers are to the concept and everything it has to offer, from short-term rental options to a high-caliber level of downtown living. We are honored to work with our partner Greybrook as The Elser Hotel & Residences continues to make its mark on Miami.”
“The Elser Hotel and Residences is a truly unique property benefiting from an abundance of exceptional amenities and situated in a prime location with convenient access to everything the Downtown Miami core has to offer,” said Sami Mouaket, Director of U.S. Investments & Development at Greybrook. “This marks another successfully completed development in our growing portfolio of projects with our partner PMG who has significant experience in the Miami market and continuously demonstrates seamless execution in development management and construction.”
Amenities at The Elser Hotel & Residences include a double-level amenity deck spanning over 19,000 square feet which overlooks Downtown Miami and Biscayne Bay, a 132-foot resort-style pool with private lounge areas and a 16-foot poolside screening LED wall. Additional amenities include co-working spaces, oversized modern gyms and fitness studios with frequent group classes, multiple lounges, smart package lockers, bike storage facilities, and a yoga lawn overlooking Biscayne Bay, among others. The property will include a new lobby cocktail bar and restaurant by the creators of Jaguar Sun as well as a coffee lounge by Cafe Domino.
To date, the Constantine Yorkville Run has helped raise $603,576 for more than 25 local charities. Greybrook is proud to have continued our support as a sponsoring partner and participant in this year’s run, with our own rising to the…
Miami’s vibrant Wynwood neighbourhood is a hub of art, culture, and innovation that continues to grow and evolve with new developments taking shape throughout the area, including our Society Wynwood development located in the heart of the neighbourhood on NW…
Construction has been progressing steadily at our Archetto Towns in Woodbridge. Since our last update, foundations for all 16 blocks have been poured and framing is well underway for many of the homes in the development. The windows and door…
As of the end of July, 51 out of 75 estate homes have closed, and all estates under construction have been bricked and drywalled and are advancing steadily toward completion with interior finishing. Final closings are set to continue throughout…
We look forward to taking part in the 4th Annual Velo Blu Pedal for Blu Genes event on September 15th in Niagara-on-the Lake, along with many of our colleagues and partners in the real estate development, finance, and professional services…
The marketing launch for Joya on the Queensway, our mid-rise residential development at 1045 The Queensway, has commenced with email and social media marketing campaigns to generate awareness about the project and invite purchasers and brokers to register. The 12-storey condominium in the…
As the City of Toronto grows, welcoming tens of thousands of new residents every year, new condominiums are being planned and constructed throughout the city that offer residents convenient access to area amenities and popular neighbourhoods that can be easily…
Vertical construction work continues at our Society Atlanta site, with steady progress resulting in the eighth-floor podium being topped off in May of this year, and concrete pours continuing up to the 15th floor and decking completed on the 16th…
The 74-unit townhome development located at Gordon Street and Scadding Avenue saw final home closings completed in Q1 of this year, with all new residents now in their homes in this beautiful waterside community. The remaining scope of work primarily…
In June, Greyspring Apartments announced the acquisition of two 14-storey concrete apartment buildings at 135 and 145-155 Rue Deguire in Montreal, Québec, representing a strategic expansion into the established borough of Saint Laurent located on the Island of Montreal. This…
