Property Markets Group

New Tower Crane Permits Submitted to FAA for Waldorf Astoria Hotel & Residences Supertall Site in Miami

8:00 am on November 10, 2024 By Oscar Nunez

Permits for additional tower crane heights have been filed with the Federal Aviation Administration (FAA) for the Waldorf Astoria Hotel & Residences in Downtown Miami. Located at 300 Biscayne Boulevard (alternatively addressed as 249 Northeast 3rd Street), the 100-story tower has two active Maxim cranes installed on-site, initially requested to rise to 1,255 feet above ground level (1,266 feet above sea level) but approved at heights of 955 feet above ground (966 feet above sea level). The latest permits, submitted on October 25, 2024, seek approval to extend these cranes to 1,214 and 1,225 feet (or 1,238 and 1,249 feet above sea level), allowing the construction team to continue building upwards to the tower’s final planned height of 1,049 feet.

18-Story One Park Sarasota Breaks Ground In Downtown Sarasota

8:00 am on October 1, 2024 By Oscar Nunez

Property Markets Group (PMG) and MoneyShow have officially broken ground on One Park Sarasota, an 18-story luxury condominium designed by Sarasota-based Hoyt Architects. Situated in the heart of The Quay waterfront community in Downtown Sarasota, the development will introduce 86 residences with over 40,000 square feet of high-end amenities, offering residents breathtaking views of Sarasota Bay and the city skyline. The project is expected to contribute significantly to the city’s growing skyline and cement its status as a premier bayfront destination. Coldwell Banker Realty is handling the exclusive sales for the property, led by Chelsa Vahtomin and Robert Robinson.

West Eleventh Residences Breaks Ground at 18 Northwest 11th Street in Park West, Miami

8:00 am on September 26, 2024 By Oscar Nunez

Developers Property Markets Group (PMG), Lion Development Group, and Marc Roberts Companies have broken ground on West Eleventh Residences in Miami. This 44-story project will feature 659 fully furnished luxury residences in the Park West neighborhood. It is designed with short-term rental flexibility in mind, allowing owners to host guests year-round on platforms like Airbnb.

$155 Million Refinancing Secured for Society Orlando at 434 N. Orange Avenue in Downtown Orlando

8:00 am on September 14, 2024 By Oscar Nunez

Property Markets Group (PMG), alongside Raven Capital Management LLC and its operating partner, RCM Living Holdings LLC, has completed a $155 million refinancing for Society Orlando, a 27-story multifamily mixed-use development at 434 North Orange Avenue. Since its completion, the development has rapidly filled its units, with the first residents moving in March.

49-Story Waldorf Astoria Residences in St. Petersburg Undergoes Major Redesign, Set to Become City’s Tallest Tower

8:00 am on September 4, 2024 By Oscar Nunez

Plans for the Waldorf Astoria Residences St. Petersburg, a 49-story tower set to become the city’s tallest building, have been significantly revised. The mixed-use luxury condominium tower, to be located at 150 2nd Avenue South in downtown St. Petersburg, has undergone a dramatic redesign, now featuring new architectural plans by Miami-based CUBE 3. Initially designed by New York-based SLCE Architects, the changes represent a shift in the project’s vision, with CUBE 3 stepping in to reshape the iconic structure. The project is a joint venture between Miami’s Property Markets Group and the City Center office building owners, including Feldman Equities, City Office REIT, and Tower Realty Partners.

Developers Secure $178 Million Refinancing for Society Wynwood in Miami

8:00 am on August 26, 2024 By Oscar Nunez

National development firm Property Markets Group (PMG), in collaboration with Canadian-based private equity firm Greybrook Realty Partners (Greybrook), has secured $178 million in refinancing for Society Wynwood, a 10-story mixed-use building designed by MKDA at 176 Northwest 25th Street in Miami’s Wynwood Arts District. Eastdil Secured arranged the financing, provided by funds managed by Ares Management and Monarch Alternative Capital. Randy Barcelo from Stearns Weaver Miller represented PMG. Since welcoming its first residents in March, Society Wynwood has experienced rapid leasing velocity.

Waldorf Astoria Hotel & Residences Secures Record-Breaking Construction Loan and Reaches Major Milestone in Downtown Miami

8:00 am on June 23, 2024 By Oscar Nunez

The Waldorf Astoria Hotel & Residences, a nearly 100-story luxury tower set to rise at 300 Biscayne Boulevard in Downtown Miami, has secured a historic $668 million construction loan, the largest ever for a residential condominium development in Florida. The project, developed by PMG, Greybrook, Mohari Hospitality, S2 Development, and Hilton, achieved this financing milestone with Bank OZK and Related Fund Management providing the funds.

Two Upcoming Residential Towers Secure Utility Agreements In Miami

8:00 am on May 28, 2024 By Oscar Nunez

Miami-Dade’s Water and Sewer Department has finalized utility supply deals for two upcoming developments in the Brickell and Park West areas. Both projects, designed by Sieger Suarez Architects and currently in the construction permitting phase, secured utility agreements on May 22.

Foundation Permit Application Filed For One Twenty Brickell Residences At 120 SW 8th Street In Brickell, Miami

8:00 am on May 17, 2024 By Oscar Nunez

A foundation permit application has been filed for One Twenty Brickell Residences, a 34-story residential tower planned for construction at 120 Southwest 8th Street in Brickell, Miami. Designed by Sieger Suarez Architects with interiors by Cotofana Designs and developed by Property Markets Group (PMG), this new development will feature 240 fully furnished residences, each delivered with its own deeded office suite and over 60,000 square feet of amenities. The foundation permit application was filed with Miami-Dade County on April 30, with no contractor yet named.

Foundation Work Progresses On The Site Of Miami’s First Supertall Skyscraper

8:00 am on May 1, 2024 By Oscar Nunez

Foundation work at 300 Biscayne Boulevard, the site of the forthcoming Waldorf Astoria Hotel & Residences, has reached a significant milestone. This 100-story supertall tower, designed by Sieger Suarez Architects in collaboration with Carlos Ott, is poised to transform the downtown Miami skyline. Developed by Property Markets Group in partnership with Greybrook Realty Partners, Mohari Hospitality, S2 Development, and Hilton, the 1,049-foot-tall structure will be the tallest building in Miami and Florida’s first supertall skyscraper, encompassing 1,738,999 square feet, featuring 1,067,777 square feet of residential space, 431,776 square feet of hotel space, 13,244 square feet of retail and restaurant space, 6,171 square feet of office space, 212,803 square feet of garage space across 11 stories. John Moriarty & Associates is the general contractor overseeing the construction.

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