Waldorf Astoria Residences Miami has seen overall success in sales from their in-house sales team PMG Residential. With several buyers coming from the Northeast area, PMG residential is joint venturing with Bespoke Real Estate to tap into their network of ultra-high-net-worth clientele in the Hampton’s and New York. Bespoke’s select residences at Waldorf Astoria Miami are composed of top-tier units within the residential development sitting in the top two cubes of what will be a nine-cube architectural masterpiece. As the tallest residential tower south of Manhattan, the property is appealing to the New York buyer for its unobstructed views, expansive floor plans, five-star service, and trusted brand name.
Bespoke can determine that a minimum of 1/3 of buyers in the 2021 SoFL $10M+ market have either purchased a second home or migrated toward SoFL from NY. While the pandemic-induced great migration may be slowing, the demand for ultra-luxury residences in Miami from New York-based high-net-worth individuals remains strong. Miami’s lower taxes, new inventory, attractive branded properties, and overall quality of life are driving this interest. Although inventory remains low in the luxury sector throughout South Florida, New Yorkers are now looking toward pre-construction investment and purchases.
While Bespoke’s direct buyers have not been transacting in crypto, the firm has seen a significant increase in buyers coming to listings asking to purchase in crypto. The crypto buyer market is not isolated to New Yorkers and seems to be coming from diverse markets across the globe.
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