Update: Swire says that the value of reservations at their planned Residences at The Mandarin Oriental has now reached close to $1 billion. In just 30 days, they have also converted $150M worth of reservations into sales contracts.
Developer Swire Properties says that demand for condo units in a new two-tower project in Brickell is exceeding expectations.
Swire announced plans for The Residences at The Mandarin Oriental, Miami in June 2023, and launched sales in December.
“The market response in relation to the sales reservations since December 2023 has exceeded expectations,” the company said in its 2024 interim results released to investors on August 8.
The first tower will include luxury private residences. The second tower will include a new Mandarin Oriental hotel as well as private residences and hotel residences.
A soft opening for the development’s sales gallery is scheduled for this month, and buyers will have the opportunity to convert to contract immediately moving forward.
Swire also released a new rendering of the taller 66-story, 850-foot tower. The buildings are being designed by architect Kohn Pedersen Fox.
The newly released rendering of the taller tower at The Residences at Mandarin Oriental:
(renderings: Binyan Studios)