Waldorf Astoria Hotel and Residence and Why It is Almost Sold OutMarch 8, 2022
The Waldorf Astoria Residences have been reported to be quite the deal, with reports of strong buyer demand emerging shortly after their launch. Developers appear to have difficulty keeping up with all of the inquiries they’ve received, as demand is immensely high.
When world-leading names in architecture and real estate begin conceiving of an iconic new architectural project, they know it will take a great deal of time, money, and expertise to make. Many minds are involved in the design process, which is then brought to life by thousands of hands. A team of architects and engineers from various disciplines will spend months refining designs, tweaking layouts, and perfecting construction before opening their doors.
The Miami Waldorf Astoria Hotel it’s no exception. Its carefully laid-out plan makes it an elegant and artistic building standing 1000 feet tall.
The Waldorf Astoria tower in downtown Miami is the tallest hotel and residential building in the U.S. south of New York City. The project is slated for completion in 2025 and will add to the growing number of high-rises in Miami’s Central Business District.
Miami is known for luxury, so there was no other option but to go big or home. Waldorf Astoria residences Miami has a stately presence that made it impossible for its architect to design anything short of an architectural wonder. From the first sketches, it seemed clear that the building would have to be more than just a piece of art; its imposing design screams more than luxury, uniqueness, exuberance and defies any conventional linear construction.
The building’s design surprisingly had to be both at the forefront of construction and yet tied to a philosophy of timelessness. Miami is constantly redefining itself, and it is right now at the cusp of a new global re-renaissance. Homeowners looking for tax breaks, especially the New Yorkers and the Californians see Miami as a resolution for a perfect combination between luxury and low tax rates. The low tax rates in Miami can be attributed to the low-income tax in FL, unlike the two metropolitan cities of New York and California, where most workers are based there. There is a sense of urgency in Miami’s visual, architectural, and symbolic identity. The Waldorf Astoria needed to capture this philosophy in its architecture.
Miami has become a global entertainment hub with a large influx of affluent travelers and tourists. Property Markets Group (PMG), the developer of the new Waldorf Astoria hotel, knows how to create projects that appeal to new generations of luxury consumers who enjoy the flair Miami provides.
These changes, as well as PMG’s overall development plan for the site, point toward a very high level of interest in this development.
According to Miami real estate agents, estates in Miami are most often known for their endless suburban and residential development; the area’s history is not one with an apathetic approach to architecture. But that’s changing quickly, with frequent new products from Miami’s world-class architects and urban planners.
The Waldorf Astoria Miami residences are another example of PMG’s design-defining influence on America’s highest-end real estate. The ambitious layout and glass facade earned acclaim from the president of Intercontinental Hotels Group, who described the property as a “one-of-a-kind authentic, distinctive, luxury property.
The building is held together with glass and steel. Its exterior, though elegant in its own right, adds to the tension of the structure. It doesn’t appear ready to topple over, but at any moment, it might, which only increases its allure as an architectural marvel.
The design of the building blends with its surroundings, as the light reflects off of its glass exterior to create a feeling of weightlessness in an environment that is anything but. The building’s height and top-heavy design do not detract from its allure, and its ability to combine light, sky, clouds, glass, and water makes it seem ageless.
For all interior design needs, PMG chose BAMO Dezine to create a seamless integration of flow, light, and function. BAMO is well known for creating captivating internal environments that are founded on sustainability, which aligns perfectly with the goals of the renovation.
This was envisaged by PMG’s shear and said that the “Waldorf Astoria Residences Miami will permanently change downtown Miami’s skyline,” he further said that. “It will bring unprecedented architecture to South Florida as the tallest residential and hotel building south of New York City. Waldorf Astoria Miami boldly embraces being individualistic in both scale and shape. From its double-height amenities and signature spaces such as Peacock Alley and Specialty Restaurant to a private residential pool deck four hundred feet up, the building’s design expressions are larger than life.” he concluded.
When looking at the Waldorf Astoria Miami Hotel and Residence, its pedigree speaks for itself. Especially considering that downtown Miami is undergoing a re-Renaissance as a destination, this luxury hotel couldn’t have come at a better time.
Miami is a city that has seen a significant transformation in recent years. Many neighborhoods have become hot spots and cultural hubs. The arts, entertainment, and culinary scenes have increased, and several new high-rises have appeared in the Brickell, downtown Miami, and Biscayne Boulevard areas.
Though Miami has rapidly progressed in the last century, its urban design means that there is still room for improvement. Plans to turn Miami into a world-class metropolis by focusing on community revitalization, infrastructure expansion, and urban planning. With this approach, Miami can become one of the most recognizable cities globally.
The combination of Miami’s warm weather and favorable taxes will attract wealthy buyers from all over the country, who are increasingly looking for locations far from the hustle and bustle of urban life. “Miami is becoming more of a world city every year,” says Winston King, founder of a traditional real estate brokerage in South Florida.
The Waldorf Astoria brand is a symbol of luxury and opulence. Consumers associate this brand with the finest of experiences, and those who are looking for the most luxurious real estate quickly recognize the Waldorf Astoria name. The Miami market attracts many remote workers and retirees, who are willing to pay top dollar for high-end real estate in sunny beach locations like the Continuum building in South Beach.
It is important to note that the high influx of New Yorkers and Californians to Miami, FL is due to the lack of inventory and the high-income tax attributed to NY and CL.
Development of both luxury apartments and vacation rentals, Miami’s new Waldorf satisfies massive demand for high-end, turnkey, luxury properties by offering single-family homes and spacious condominiums at the property. When the number of dwellings for sale in the area declines and people are waiting to purchase homes, the project has seen high approval ratings from residents.
When consulting with Wilson Chueire, one of the best realtors in Miami, “Miami hasn’t seen this type of velocity in inventory absorption since pre-2008, Miami’s last buying surge fueled by favorable Latin American currencies exchange in 2006-2007. The economic drive is different now. Whereas some new development projects aren’t selling at the same rate, residential projects such as the Waldorf Astoria Residences in Miami offer a unique proposition from design all the way to service, crowned by a worldly recognized white-glove concierge service. It doesn’t surprise me to see the project sell out in record time. It makes sense.”
The Waldorf Astoria is not the only favorable development in Miami. The city’s economy is booming. So are real estate prices, as evidenced by the $2 billion sales of the Miami skyline. And the tech scene is improving, thanks to venture capitalists and other investors pouring money into promising startups.
For additional information including availability and pricing on the remaining units at the Waldorf Astoria in Miami, please contact Wilson Chueire