Plans for a 49-story downtown Miami tower called The Elser Hotel & Residences have been announced.
The project was formerly planned to become a rental tower called Society Residences, with 646 apartments.
The Elser will also have 646 units, but they will be sold as fully-furnished condos instead.
Owners at The Elser will be permitted to rent their units on a daily basis. There will also be an in-house short-term rental program that owners have the option to use, professionally managed by hospitality company Highgate.
Units will be ready for delivery this summer.
Condo sizes will range from 404 to 1307 square feet, with prices from the $600s or the equivalent cryptocurrency exchange rate.
Amenities include a double-level amenity deck spanning over 19,000 square feet overlooking Downtown Miami and Biscayne Bay, a 132-foot resort-style pool with private lounge areas, a 16-foot poolside screening LED wall, co-working spaces, oversized modern gyms and more. 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.
Interior design is by Cotofana, while the tower itself was designed by Sieger Suarez.
PMG and Greybrook Realty Partners are the developers.
“Downtown Miami is the city’s most desirable location for luxury real estate, resulting in high levels of demand met with record-low inventory,” said Ryan Shear, Managing Partner of PMG.
Miami is now experiencing a “population, tourism and corporate relocation boom” that has resulted in “historically low resale inventories,” added Peter Politis, CEO of Greybrook.
I’m disappointed the developers decided to sellout rather than provide much needed long term rentals. Developers stand to make more in the long term by renting out rather than selling, which is what PMG clearly originally intended to do. PMG selling rather than renting indicates that they might see the current climate as the “top of the market,” and would rather cash out.
It’s bayfront property. If you want much needed long-term rentals, we have plenty of vacant or underutilized land around Metrorail stops. Besides, nothing would have stopped the owners from converting it.
Unfortunately plans to upzone much of the areas around metrorail have been largely thwarted by NIMBY suburban cities. Downtown is the best bet until we’re able to move forward with large scale upzoning county wide
It was supposed to be apartments. No owners to convert.
Not a fan of AirBnB but this is basically a hotel building operated by a Hotel and condo owners. Hopefully it won’t become too ghètto!
It is bling to turn into the new Opera. We should require these types of buildings to have 24/7 police in the lobby ready to respond to issues.
You’re right, all these AirBnB buildings should have enough staff and security just like a regular hotel would.
Hopefully Vizcayne remains as the ghètto magnet over here.
So is the church still in there? I would love to see the church crowd mixed with the Airbnb crowd…
Feel bad for all the people who signed leases and were essentially told at the last second to figure something else out.
Read the fine print. The lease was fully absolvable as long as $$$ was refunded if there was a deposit,
I understood that they were given around 5-6 months’ notice. If that’s accurate, it’s not exactly “last second.” Besides, people usually don’t sign a lease until around a month before move-in so it seems they would have plenty of options to find something else.
The best thing about this tower is its location, facing the Bay, with a beautiful view. This region will become more and more dense with people and retail and this tower, in the future, will be even more sought after.
Will the church remain? I wonder what happened to the society brand
I’m sure citizenM will be thrilled there’s a surprise “hotel” only 3 blocks to their south…
Maybe there is a need for more hotels compared to when Citizen M was planned
Yeah, with a more original name.
My biggest question is now that the Society branding has been dropped what will the enormous mural be?
YOUR APARTMENT IS BORING to WE’RE SELLING OUT QUICKLY
Something better, like a vertical garden or frankly nothing. The “Society” brand along with “X” and Latin gibberish or wordplay epitomize everything wrong with branding today.
They are accepting cryptocurrency…. I guess the developers still believe in crypto.
This was a great decision on PMG’s part. There are loads and loads of apartment buildings in active development throughout the urban core. Not so many condo buildings, or at least non-super luxury condo buildings, in the works. Nice to have more options for those of us who don’t rent.
more onlyfans vids filmed on balconies and airbnb parties……….
This building has been such a let down. The renderings were definitely misleading.
Wiping the cold sweat away from his forehead, he became transfixed in perpetuity with how iconic this development grew to be.
This tower is poised to be in the center of it all, especially with Bayside’s rebranding and upgrades
He’s in a parallel universe where Skyrise and that boring renovation are still on the books.
The base is totally a let down. Looks really cheap. Other than that, decent filler.
It actually looks really nice. I walked by it yesterday and it’s stunning. I hope they put some led on too, Miami style.
I agree. I walk by it daily and everything from the weird white film they’ve placed over the glass, to the odd way it meets the ground, and the cheap concrete instead of pavers awkwardly meeting Biscayne, is value engineered. It’s okay. But they bit off more than they can chew and it shows.
As if the tower is any better… It would be a solid infill building somewhere off of Flagler Street or Miami Avenue, let’s say instead of Melo’s Downtown 5th monstrosity, but right on Biscayne Boulevard?
Woowwww that podium is horrendous
What architecture are bringing to the table in comparison, with this strong opinion of yours?