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The iconic Mandarin Oriental hotel in Miami, located on the exclusive Brickell Key island, is closing its doors after 25 years of operation to make way for an ambitious real estate project valued at one billion dollars, which will transform the landscape of the area with two luxury towers: The Residences at Mandarin Oriental.
The new development, presented by Mandarin Oriental, Swire Properties, and Fortune Development Sales, will include a collection of high-end residences, with prices ranging from 4.9 million to 100 million dollars.
The South Tower has already sold 50% of its units, highlighting the strong interest in this new symbol of luxury in Miami.
An international bet with Spanish connection
According to the official statement, Spain has become a key market for this development, with buyers demonstrating a "strong connection to the Mandarin Oriental brand."
Promotional companies believe that the combination of top-notch Asian service with the Mediterranean lifestyle is particularly appealing to a discerning and sophisticated international buyer.
"Spain offers a unique market for this type of luxury residences," they noted during the presentation.
Two towers, extreme luxury and unprecedented amenities
The complex will cover 20,000 square meters, of which over 9,300 square meters will be dedicated exclusively to high-end services
11 swimming pools
Wellness spaces with holistic treatments
Meditation gardens
Two gourmet restaurants
Private wine cellar
Golf simulators
The South Tower will house 228 residences ranging from two to five bedrooms, with sizes varying between 217 and 725 square meters.
The North Tower will feature 28 hotel residences and 66 private residences, in addition to the new Mandarin Oriental, Miami hotel, which will be a flagship property for the brand in North America with 121 rooms.
Goodbye to a classic of luxury in Miami
The demolition of the original hotel marks the end of a chapter in the history of luxury in Miami.
Since its opening, the Mandarin Oriental has been synonymous with Asian elegance and one of the preferred destinations for celebrities, businesspeople, and high-profile tourists.
Now it makes way for an even more ambitious vision, driven by the real estate boom that Miami has been experiencing since the pandemic.
Miami, the epicenter of luxury real estate investment
Since 2020, the Brickell area and the Miami-Dade County, in general, have become hotspots for the real estate market, attracting investors from all over the world.
According to the Miami Association of Realtors, condominium prices have risen by 141% in the last 10 years, solidifying the city as the second-largest housing market in the United States.
The new project in Brickell Key not only reinforces this trend but also redefines the concept of urban luxury in the city, emphasizing a fusion of contemporary architecture, exclusive services, and a clear international outlook.
Frequently Asked Questions about the Closure of the Mandarin Oriental and the New Project in Brickell Key
Why did the Mandarin Oriental hotel in Miami close?
The Mandarin Oriental hotel has closed to make way for a new luxury real estate project, which includes the construction of two towers that will redefine the landscape of Brickell Key with a value of one billion dollars.
What will the new development in Brickell Key include?
The new development, called The Residences at Mandarin Oriental, will include luxury residences, a hotel, 11 swimming pools, gourmet restaurants, and wellness spaces, among other exclusive services. The South Tower has already sold 50% of its units.
What is the Spanish market's interest in the new project in Miami?
Spain has become a key market for this development, with buyers showing a strong affinity for the Mandarin Oriental brand. The blend of excellent Asian service with Mediterranean lifestyle is particularly appealing to international buyers.
How does this new project affect the Miami real estate market?
The project in Brickell Key strengthens the boom in the luxury real estate market in Miami, consolidating the city as a coveted destination for international investments. Since 2020, Miami has experienced a 141% increase in condominium prices, making it the second largest housing market in the U.S.
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