The Elser Hotel & Residences to Launch in Downtown Miami

The Elser Hotel & Residences, a 49-story luxury condominium tower in the heart of Downtown Miami, is set to debut this summer. The newly completed building at 398 NE 5th St. involves a partnership between national investment and development firm PMG alongside Toronto-based real estate private equity firm Greybrook. The property features over 19,000 square feet of curated amenities and 5,000 square feet of prime retail space. PMG Residential is the exclusive sales team for the property, with residences priced from the $600Ks or the equivalent cryptocurrency exchange rate.

“Downtown Miami is the city’s most desirable location for luxury real estate, resulting in high levels of demand met with record-low inventory,” Ryan Shear says, Managing Partner of PMG. “On the heels of an incredible response to our recent pre-construction developments, Waldorf Astoria Residences Miami and E11EVEN Hotel & Residences, PMG continues to meet the demands of Miami’s evolving real estate market by now delivering a new, move-in-ready luxury residential tower to the heart of Downtown with The Elser Hotel & Residences.” 

The residences offer vast views of Biscayne Bay and the Miami skyline. The tower was designed by Sieger Suarez Architects with interior architecture and design by Cotofana Designs. The fully-furnished residences range from studios to three bedrooms spanning 404 to 1307 square feet. Managed by management company Highgate, the property will allow owners to enter a short-term rental program with daily rental options through The Elser Hotel & Residences Owners Program. 

“With historically low resale inventories and long lead times for new projects under development to be completed, we are very excited to be launching The Elser Hotel & Residences Miami, together with PMG, in order to capture the strong demand for move-in ready residences in the Downtown Miami market,” Peter Politis says, CEO of Greybrook Realty Partners. “The short-term rental optionality available to owners, coupled with the high caliber of finishes and offerings, will continue to serve the city as it experiences a population, tourism and corporate relocation boom.”

Amenities at The Elser Hotel & Residences include a double-level amenity deck spanning over 19,000 square feet, which overlooks Downtown Miami and Biscayne Bay, a 132-foot resort-style pool with private lounge areas and a 16-foot poolside screening LED wall. Additional amenities include co-working spaces, large modern gyms and fitness studios with regular group classes, multiple lounges, smart package lockers, bike storage facilities and a yoga lawn overlooking Biscayne Bay, among others. 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. 

You May Also Like
New Hotel Proposed by Related Group and BH Group—Across from the Diplomat

The developers are proposing a 300-room hotel in Hollywood on the site of what is now a parking lot.

Read More
Opening this Fall: The Omni Fort Lauderdale Hotel

Omni Hotels & Resorts will bring its first property in this market to the Broward County Convention Center.

Read More
W Fort Lauderdale Names New GM

With 18 years in hospitality, Cody Bertone has built his career across Florida and Louisiana.

Read More
The Breakers Palm Beach: Addressing the Workforce Housing Challenge

The Breakers Palm Beach is exploring development of a dedicated housing campus for its employees on a vacant 1.16-acre lot in West Palm Beach, just a few miles west of the resort.

Read More
Other Posts
Global Cosmetics Firm Picks South Florida for Headquarters

Miami was chosen for its high concentration of med spas and clinics.

Read More
A Decade of Progress Celebrated at South Florida Behavioral Health Conference

United Way of Broward County also introduced three groundbreaking new programs.

Read More
Who Are the Highest-Paid CEOs in South Florida?

It’s only fitting that CEO David Gitlin of Carrier Global—makers of air conditioners—would be at the top of the list.

Read More
A Car Dealership as a Lifestyle Destination? That’s the RETAIL.NEXT Concept

Braman Motors has unveiled a newly transformed BMW + MINI Showroom that upends the traditional car shopping experience.

Read More