Backers of the Waldorf Astoria Hotel & Residences Miami, the first supertall skyscraper in Miami, recently claimed another first, securing $668 million in construction financing, the largest construction loan for a residential condominium project in Florida’s history.
At 1,049 feet tall, the tower by PMG, Greybrook, Mohari Hospitality, S2 Development and Hilton, will be the tallest residential building south of New York. The building, designed by Sieger Suarez Architects and Carlos Ott, will comprise a stack of nine spiraling, offset glass cubes. The first three cubes will house a 205-key luxury hotel, topped by 387 condominiums in the upper cubes.
Community amenities for residents and hotel guests will include Waldorf Astoria’s signature Peacock Alley restaurant, a specialty restaurant, indoor/outdoor event spaces, a resort-style pool deck with private cabanas and a spa and fitness center.
Private residential amenities will include an owners-only lobby and lounge, hospitality suite for chef’s tastings and parties, billiard room, kid’s club and pool deck. Residences will offer smart-home technology with a custom mobile app for concierge services provided by Hilton Management Services, which will manage the property.
Located at 300 Biscayne Boulevard, the property’s condos are over 90% sold. PMG Residential’s Christian Tupper, Aura Aragon, Daiana Quiceno, Alejandra Castillo and Karine Carvalho are handling sales. Bank OZK and Related Fund Management provided the financing. Construction is slated for completion in the second quarter of 2028.
“This project’s success cannot be credited to one person or firm, as it was nothing short of a herculean effort by a collective of so many individuals to bring Waldorf Astoria Hotel & Residences Miami to fruition,” PMG Managing Partner Ryan Shear said in a press release. “Both the magnitude of financing we’ve secured for this project and its incredible buyer response is testament to the quality of product and strength of Miami’s real estate market, which remains one of the strongest markets in the country.”
A pool on the 31st floor. Courtesy of ARX Creative.