Hospitality giant Waldorf Astoria Hotels & Resorts finally unveiled the $50 million penthouse that will top its highly anticipated Miami residence.
The mixed-use luxury building, which will tentatively open in 2026 and is going up in Downtown Miami, will have a 13,119 square foot penthouse that includes six bedrooms, nine bathrooms, views of the varied city skyline and bay in addition to a list of high-end amenities.
Soon to be located at 300 Biscayne Boulevard, across from downtown’s bustling Bayfront Park, and less than two miles from Miami’s financial district, Brickell, Waldorf Astoria Residences Miami will be a 100-story residence and hotel.
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The eventual buyer of the Waldorf Astoria Residences Miami penthouse will get an open-layout home.
It will be equipped with multiple sitting and dining rooms, an integrated smart home system, a private gym, theater, wine room, library, spa and pool.
BAMO, Inc., a San Francisco-based interior design firm that has won over 40 design awards from hospitality groups, is planning to construct an upscale penthouse with enclosed balconies and floor-to-ceiling windows that offer panoramic views of Miami Beach, Downtown Miami and the Biscayne Bay.
Current concept renderings that the design firm has worked on with ArX Creative, a photo-realistic computer-generated illustration company in Coral Gables, Miami, show that the eight-figure penthouse will have a roomy primary suite with premium walk-in-closets, custom Italian vanities with marble finishes in each bathroom and a modern kitchen with bespoke finishes.
Waldorf Astoria is aiming to make its Miami residence the tallest residential building south of New York City with a 1,049-foot construction that would eclipse its competitors.
Those competitors include the Aston Martin Residences in Downtown Miami, which is set to open its 817-foot building at the end of 2023, and the Panorama Tower in Brickell, which opened its 869-foot building in 2017 and is currently the tallest building in South Florida.
Property Markets Group Residential (PMG), a national full-service real estate development firm, holds the exclusive listing for Waldorf Astoria Residences Miami. It's one of four developers who are working to bring the luxury building to life.
"The Penthouse at Waldorf Astoria Residences Miami is the city’s most unique penthouse offering, setting the bar for sky-high luxury living with its contemporary design and sweeping views," Ryan Shear, managing partner at PMG, said in a statement.
"The magnificent residence within Miami’s first Waldorf Astoria grants owners the ability to create a custom home to fit each and every need," he continued.
"Beyond their personal residence, owners will have access to five-star concierge services and a superb suite of private residential amenities within the tower, which will be a landmark structure shaping Miami’s skyline."
PMG is joined by S2 Development, a South Florida developer, Greybook Realty Partners, a Canadian private equity firm, Mohari Hospitality, a global investment platform in the luxury lifestyle sector, and Waldorf Astoria’s parent company, Hilton Worldwide.
Sieger Suarez Architects of Miami, and renowned Uruguayan Canadian architect Carlos Ott, developed the geometric concept for the tower, which features nine offset glass cubes that house 565 units.
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Of those units, 360 will be private condominium residences from cubes four to nine.
The remaining 205 units will be guestrooms and suites, which will be housed throughout the tower’s first three cubes, along with amenities and Waldorf Astoria signature spaces.
"Miami has rapidly evolved into a world-class city and downtown Miami has become a true driving force behind the city’s cultural evolution," the hospitality company wrote in its Waldorf Astoria Residences Miami booklet, which was obtained by FOX Business.
"From its accessibility to the retail and tourism offerings, this thriving metro center is a hub for commerce, finance, arts, sports and entertainment," the booklet continued.
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Amenities and services include valet parking, an owners-only lobby and lounge with 24-hour attendants and concierge service, a billiard and entertainment room, a kids' club, an elevated pool deck with whirlpool and resting areas and a hospitality suite for chef tastings and parties.
Residents can also book dinner and house car reservations, room service, spa treatments, fitness sessions, dog walking appointments and package delivery services through an exclusive app.
Both guests and residents will have access to Waldorf Astoria’s specialty restaurant Peacock Alley, as well as hotel event spaces and conference rooms.
The hotel’s resort-style pool deck, private cabanas, wellness spa and fitness center will also be open to visitors and owners.
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Florida allows real estate developers to presell units and apply contract deposits to pay for the building of condos, according to Chapter 718 of the state statute, also known as The Condominium Act.
Deposits in excess of 10% of the purchase price can be used for construction and development, according to Florida Statute 718.202.
Waldorf Astoria Residences Miami will join a list of hospitality brands that have turned to the "Magic City" for a hybrid residence and accommodation business model.
Four Seasons, SLS, Mandarin Oriental and 1 Hotel are just a few hoteliers that have launched residences throughout Miami.
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Upscale restaurants and home décor brands are also developing residences in Miami, including Cipriani, Casa Tua and Baccarat.
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