Developers will officially break ground this week on the Waldorf Astoria Hotel & Residences in Miami, launching what will be the tallest residential tower south of New York City.
The 1,094-foot building will rise 100 stories above Biscayne Bay. The building launched sales in spring 2021 and 87% of the tower’s 360 private residences are sold. Roughly 50% are domestic buyers with “significant activity from Latin American markets and other international markets,” according to a news release.
PMG is the developer, and its in-house team is handling sales.
“The highly-anticipated groundbreaking of Waldorf Astoria Hotel & Residences Miami sets a new tone and new standard for development here in Miami. The market is thriving and projects like this are coming to life to meet the demand from our luxury audience,” said Ryan Shear, managing partner of PMG.
The building at 300 Biscayne Boulevard will feature nine spiraling, offset glass cubes designed to be stacked and wrapped in what developers describe as a “glass skin.”
“The groundbreaking of Waldorf Astoria Hotel & Residences Miami signifies much more than the property’s vertical construction,” said Kevin Maloney, president and CEO of PMG. “As Miami’s first supertall tower and Waldorf Astoria’s first entry into the city, this achievement further designates Miami as a global destination and set a new benchmark for luxury real estate paired with superior hospitality.”