PMG (Property Markets Group), in partnership with Greybrook, has launched The Elser Hotel & Residences in downtown Miami. Located at 398 Northeast Fifth Street, the newly completed 49-story luxury condominium has 646 residential units, more than 19,000 square feet of curated amenities, 32,000 square feet of office space and about 5,000 square feet of retail space.

The Elser Hotel & Residences Miami is designed by Sieger Suarez Architects with interior architecture and design by Cotofana Designs. The condos range from studios to three-bedrooms spanning 404 to 1307 square feet and priced from the $600,000s or the equivalent cryptocurrency exchange rate.

The move-in-ready luxury residential tower offers sweeping views of Biscayne Bay and the Miami skyline, along with amenities that 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. Other amenities include co-working spaces, oversized modern gyms, yoga lawn overlooking Biscayne Bay, multiple lounges, a lobby cocktail bar and restaurant, and a coffee lounge, among others.

The rental friendly units are ready for delivery this summer and sold as fully-furnished condos due to continued demand from buyers. Owners are allowed to rent their units on a daily basis or opt for an in-house short-term rental program. The switch to condos was prompted by the lack of existing inventory that is short-term rental friendly and available at that price point. Several short-term rental condo projects are in the pipeline in Greater Downtown Miami, although only a few have been completed. There are now more short-term rental condos being planned than traditional units in Greater Downtown Miami, according to a recent ISG World Miami Report.