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Miami’s iconic skyline is getting a new addition and a new luxury class hotel. The Waldorf Astoria Hotel and Residences Miami, which is owned by Hilton Hotels will be building a 1000' skyscraper that will eventually include 140 hotel rooms and 400 condos. Pre-sales on the project aren’t scheduled to begin until late 2019 with total sales expected to cap over $1 billion. Sieger Suarez Architects, based in Miami will be handling the design work. The project is a joint venture between the New York-based Property Markets Group (PMG), Toronto’s Greybrook Realty Partners and the Miami-based S2 Development.

“We are thrilled to bring the rich history and heritage of this hotel brand to Miami,” said PMG principal Ryan Shear in a press release. “The city continues to thrive as a top global destination with increasing arts, culture, tourism, fashion and luxury brands. This partnership is a major milestone for Miami’s real estate and hospitality industries.” PMG is also the developer of X Miami, a 464-apartment rental tower at 230 NE Fourth Street, that is part of the company’s X Social Communities division, which offers rent-by-bedroom apartments pitched at millennials. That building opened earlier this year.

“We are incredibly excited to partner with PMG and Greybrook Realty Partners to bring the first Waldorf Astoria to Miami,” said Danny Hughes, area president, Americas, for Hilton Management Services, which will operate the hotel. “Miami — a vibrant, dynamic and truly cosmopolitan destination that draws travelers from all over the world — is the perfect market for our iconic Waldorf Astoria brand.”

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