Pre-Construction Sales on Waldorf Astoria Miami Highlight South Florida’s Real Estate Boom
Waldorf Astoria. The brand is synonymous with luxury hospitality. This worldwide luxury brand is seeking to expand their presence into the real estate world, and they are creating quite a buzz in South Florida. Their latest project is seeking to transform downtown Miami with a truly revolutionary residential project which, upon completion, will be the tallest residential tower anywhere south of Manhattan. At 100 stories, 1,049 feet tall, this impressive building will not only have the prestige of its namesake and the title of the tallest building south of New York, but the incredible views that go along with it.
The fact that this renowned luxury brand chose Miami is a true testament to the strength of the South Florida real estate market, Miami in particular. It has been well documented how Miami real estate is thriving amidst the great shuffle and the huge influxes of major national tech and financial firms into downtown Miami. Anyone walking around downtown and Brickell these days can see its transformation into a Manhattan south. The construction of Waldorf Astoria Miami and the precedent that it is setting in an already thriving market will continue to move this forward.
Waldorf Astoria Miami is set to be an iconic piece of the Miami skyline. Not only does its height set it apart, but its unique design by acclaimed architect Carlos Ott is truly special. The design will consist of box-like units offset as they soar over 1,000 feet in the air. It will combine 360 residential units with 205 hotel units, all with five-star amenities and services available.
The groundbreaking of this unparalleled project will take place early this year, and it is scheduled for completion in 2026. Even before it has broken ground, pre-construction sales are skyrocketing, with 72% of units already sold! The buyers of these spectacular units are also illustrating trends that industry analysts have been seeing, particularly the uptick in international buyers in South Florida. Of the units already sold, 45% have been sold to international buyers. Industry insiders have been predicting a wave of international buyers with travel restrictions lifted and accumulated international wealth looking for an outlet in the States. The fact that nearly half of pre-construction sales have been to overseas buyers definitely confirms this. Of the 55% sold to stateside buyers, the majority of sales have come from buyers in California, the Northeast, and South Florida.
Looking for a different vibe or a weekend getaway property? Luxury homes for sale in Key Largo are just an hour’s drive from downtown Miami - but a whole world away. If you live in the hustle and bustle of Miami, buying a vacation home in the Keys will transport you from the stress of the city to the relaxation of island living with just a short car trip. Imagine spending your weekends among the palm trees, out on the ocean, soaking up the sun. This is exactly what you need to refresh and relax. Contact Broker’s Edge Realty to make this dream your reality!
