PMG And Greybrook Shift 49-Story Downtown Miami Project To Condos And Short-Term Rentals, Launched As The Elser Hotel & Residences
National investment and development firm Property Markets Group and Toronto-based real estate private equity firm Greybrook have changed the programming for a newly completed 49-story project once known as Society Biscayne on the southwest corner of Biscayne Boulevard and Northeast 5th Street. The developers rebranded and launched the 571-foot-tall tower as The Elser Hotel & Residences and the property is now addressed as 398 Northeast 5th Street. The newly completed tower offers 646 fully furnished residences, 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 $600,000’s or the equivalent cryptocurrency exchange rate.