# Waldorf Astoria Residences Miami: prices and deposits

> Source: https://bluebaybrokers.com/buildings/waldorf-astoria-miami
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-22
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

## The bet

Waldorf Astoria Residences Miami is Florida's first supertall, funded and over 90% sold, and its entry two-bedroom asks $1,873 a foot on the MLS against $1,203 for homes closing at $3 to $5 million in Downtown and Brickell. That gap is the brand, the height and a hotel downstairs. Bought below the asks, it is the address of the decade; bought at them, it is a home, not a trade.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 387 all at once, to the same buyer pool

Closings per year 30 trailing 12 months, 33132, 33131, same band

Years of supply 12.9 this building alone

Band closes at $1,203/sf median of real closings, not asks

| Band, 33132, 33131 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $3M – $5M | 20 | $4,087,500 | $1,203 |
| $5M – $10M | 8 | $7,097,500 | $1,423 |
| $10M and above | 2 | withheld, 2 sales | — |

**387 residences, one delivery date**

The building is 12.9 years of supply against the 30 homes that closed above $3 million across 33131 and 33132 in the trailing year, and the submarket holds 21 months of inventory. That is the cost of being Florida's first supertall: almost every residence was sold between 2021 and 2024, and the owners who want to sell will all list into the same window around Q2 2028. The 17 residences on the MLS today, most of them listed 100 to 144 days ago, are the preview. Read it as leverage: you are the buyer a crowded delivery competes for.

## The market it lands in

Everything for sale in 33132, 33131 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 1717 homes listed across 33132, 33131

Sold, trailing year 961 recorded closings, every price

Months of supply 21.4 under 6 favours sellers, over 12 favours buyers

Asking vs sold $757/sf asked, against $600/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33132, 33131 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,180/sf median of 38 closings this year

Movement since -11.2% across recently delivered buildings

This building asks $1,873/sf entry residences

Entry vs new stock +59% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 11 | $1,329 |
| 2025 | 42 | $1,136 |
| 2026 | 38 | $1,180 |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking $1,873–$3,898/sf $3.4M – $24.4M · 1,809 – 6,247 sf (asks on the MLS)

Band closes at $1,203/sf $3M – $5M, trailing 12 months

Listed here today 17 median $2,883/sf

**What the brand premium costs, per foot**

On MLS area the entry two-bedroom (#4608, 1,809 sf) asks $1,873 a foot, the 17 listings a median of $2,883, and the penthouses about $3,900. The $3 to $5 million band across Downtown and Brickell closed at $1,203 on recorded sales, and condominiums built since 2023 there resell at $1,180, down 11.2% since 2024. The launch cohort of 2021 bought from about $1,100 a foot (The Real Deal), so a seller today is asking you for their gain. MLS area on new construction often includes the terrace: re-divide by the recorded area before comparing.

## On the MLS today

17 listings in this building are Active right now, pulled 2026-10-22. Leases are excluded: a monthly rent sitting in the price column wrecks any comparison. This is what a buyer can actually transact on today, as opposed to what a price list says.

| Unit | Bd/Ba | Interior | Asking | $/sf | HOA / mo | Days |
|---|---|---|---|---|---|---|
| [4408](https://bluebaybrokers.com/listing?mls=A12035582) | 2/3 | — | $3,300,000 | — | $3,075 | 100 |
| [4608](https://bluebaybrokers.com/listing?mls=A11949373) | 2/3 | 1,809 sf | $3,388,700 | $1,873 | $1,809 | 137 |
| [8004](https://bluebaybrokers.com/listing?mls=A11944823) | 3/4 | 2,456 sf | $4,551,000 | $1,853 | $4,175 | 144 |
| [8004](https://bluebaybrokers.com/listing?mls=A12035723) | 3/4 | — | $4,651,000 | — | $4,200 | 100 |
| [5901](https://bluebaybrokers.com/listing?mls=A11945041) | 3/4 | 2,659 sf | $5,871,000 | $2,208 | $4,520 | 144 |
| [7801](https://bluebaybrokers.com/listing?mls=A11514844) | 3/4 | 2,502 sf | $6,677,000 | $2,669 | $2,405 | 968 |
| [6101](https://bluebaybrokers.com/listing?mls=A11944969) | 4/5 | 3,256 sf | $7,477,800 | $2,297 | $5,535 | 144 |
| [7403](https://bluebaybrokers.com/listing?mls=A12035639) | 3/4 | — | $7,630,000 | — | $4,800 | 100 |
| [8401](https://bluebaybrokers.com/listing?mls=A12009678) | 4/6 | 3,575 sf | $10,305,482 | $2,883 | $4,468 | 133 |
| [8401](https://bluebaybrokers.com/listing?mls=A12035652) | 4/5 | — | $10,306,000 | — | $6,000 | 100 |
| [8402](https://bluebaybrokers.com/listing?mls=A12009698) | 4/5 | — | $10,611,920 | — | $4,427 | 133 |
| [8402](https://bluebaybrokers.com/listing?mls=A12035678) | 4/5 | — | $10,612,000 | — | $6,000 | 100 |
| [8502](https://bluebaybrokers.com/listing?mls=A11814486) | 4/5 | 3,542 sf | $10,701,000 | $3,021 | $6,199 | 480 |
| [8401-8402](https://bluebaybrokers.com/listing?mls=A12009422) | 4/6 | 5,713 sf | $20,917,402 | $3,661 | $8,896 | 134 |
| [PH301](https://bluebaybrokers.com/listing?mls=A12009555) | 4/6 | 6,204 sf | $24,200,000 | $3,901 | $8,192 | 134 |
| [PH401](https://bluebaybrokers.com/listing?mls=A12009573) | 4/6 | 6,247 sf | $24,350,000 | $3,898 | $8,246 | 134 |
| [PH 6](https://bluebaybrokers.com/listing?mls=A11944981) | 6/10 | 2,454 sf | $50,000,000 | $20,375 | $13,000 | 241 |

How to read this table

On new construction the MLS area is routinely the total rather than the interior, and it runs larger than the County's recorded figure, by 10 to 30 percent on the units already tested in this pipeline. Treat the $/sf column as the seller's own arithmetic and re-divide by the recorded area before comparing it with anything delivered.

## Photographs

The 24 photographs carried on MLS listing A11944969 at this address. On a building still under construction these are the developer's renders and the sales-gallery material, not the finished product.

**Photographs** © SEFMLS, displayed from the MLS under the same licence that permits display of the listing itself. Renders are the developer's own and are subject to change.

## What the deposit costs to hold

A preconstruction deposit is committed years before you hold a deed, earning nothing. That carry is a real cost of the trade and it is never in the pitch. Modelled on $3,388,700 at 4.5% simple, 19 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $338,870 | $338,870 | 19 mo | −$24,144 |
| 30 days after contract (assumed standard) | 10% | $338,870 | $677,740 | 18 mo | −$22,874 |
| At top-off (assumed standard) | 10% | $338,870 | $1,016,610 | 16 mo | −$20,332 |
| At closing | 70% | $2,372,090 | $3,388,700 | 0 mo | −$0 |
| Committed before closing |  |  | $3,388,700 |  | −$67,350 |

Why this line matters more than the yield

Nothing is rented and nothing is owned meanwhile, so the whole return has to come from the gap between contract price and the market at delivery. That carry, about $67,350, is the hurdle before you break even, and deposits are generally non-refundable, so a delivery that slips extends it without your consent.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 1,809 sf.

| HOA at $1.7/sf/month | −$36,904 |
|---|---|
| Property tax at 2.02% of $3,388,700 | −$68,452 |
| Insurance (HO-6), $3.60/sf | −$6,512 |
| Annual carry, before any income | −$111,868 |

**What to secure before you sign**

PMG has not published a current schedule, so the carry above assumes the Miami standard 10/10/10/70 over about 19 months to delivery. The rental rule is marketed as a six-month minimum (broker inventory sheet), so this residence earns nothing during the carry and little after it. Dues on the listings run about $1.70 a foot a month, $4,175 on the 2,456 sf three-bedroom. Get the recorded leasing article and the true deposit terms before signing.

## Delivery risk

| Construction financing | $668M closed June 2024: Bank OZK $425M as sole senior lender, Related Fund Management the balance, arranged by JLL. The largest construction loan Florida had recorded at the time. |
|---|---|
| Presold | 90% at last disclosure |
| Delivery | Q2 2028 per the financing release. The superstructure reached level 85 in August 2026 with the ninth and last glass cube under way, and top-off is targeted for this winter. |
| Developer | PMG (Ryan Shear), with Greybrook, Hilton, Mohari Hospitality and S2 Development. PMG bought the one-acre site in 2014 and held it eight years before breaking ground in 2022. |
| Rental policy | Marketed with a 6-month minimum stay (broker inventory sheet, read 17 September 2026) |

## Recommendation

BlueBay Brokers · Waldorf Astoria Residences Miami

### Buy it as a home, and negotiate it like one

The construction risk is largely retired: $668M of senior and mezzanine debt closed in 2024, more than 90% of the residences sold, and the tower stood at level 85 in August 2026. No branded residence in Miami will be taller for years.

Pay for that, not for the seller's 2021 gain. Offer near the band's clearing price plus a measured brand premium, use days on market as the argument, and confirm the six-month leasing rule before you sign.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the unit-level price list and what is actually left, the developer's land basis and what it says about room on price, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

Developers in this pipeline pay a cooperating broker, so having me represent you costs nothing on top of the price. I negotiate the deposit schedule, the credits and the co-broke, with the recorded comps to argue from.

## Read next

- [501 First Residences, Downtown, Delivered 2026](https://bluebaybrokers.com/buildings/501-first)
- [600 Miami Worldcenter, Downtown, Closings Q4 2026](https://bluebaybrokers.com/buildings/600-miami-worldcenter)
- [Casa Bella Residences by B&B Italia, Downtown, Delivered 2026](https://bluebaybrokers.com/buildings/casa-bella)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [What a preconstruction deposit costs to hold](https://bluebaybrokers.com/preconstruction-deposit-carry-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [Commercial Observer, PMG scores $668M record construction loan for Waldorf Astoria tower (June 2024)](https://commercialobserver.com/2024/06/pmg-waldorf-astoria-hotel-residences-miami-bank-ozk/)
- [The Real Deal, Waldorf Astoria Miami launches sales (March 2021)](https://therealdeal.com/miami/2021/03/22/waldorf-astoria-miami-planned-as-the-tallest-tower-south-of-manhattan-launches-sales/)
- [Greybrook, Waldorf Astoria Miami Residences reaches 72% sold](https://greybrook.com/floridas-first-supertall-tower-waldorf-astoria-miami-reaches-72-sold/)
- [Florida YIMBY, Waldorf Astoria begins ninth and final cube as supertall nears topping out (Aug 2026)](https://floridayimby.com/2026/08/waldorf-astoria-hotel-residences-miami-begins-ninth-and-final-cube-as-supertall-nears-topping-out.html)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-22. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.