With this in mind, PMG and Greybrook have partnered with FTX US, a crypto exchange platform, to launch The Elser Hotel & Residences Miami which will enable investors to utilize volatile crypto assets to purchase more stable real estate property in a more accessible way.
The Elser Hotel & Residences launched this summer as a new 49-story luxury condominium built in Downtown Miami, located across from the well-known FTX Arena. The building contains fully furnished residences, a plethora of curated amenities and commercial retail space.
Through The Elser Hotel & Residences Owners Program managed by Highgate, the property will allow owners to enter a short-term rental program with daily rental options. Looking closer at the development itself, The Elser Hotel & Residences offers amenities including a double-level deck spanning over 19,000 square feet overlooking Downtown Miami and Biscayne Bay, a 132-foot resort-style pool with accompanying lounge areas and a 16-foot poolside LED wall.
Additionally, long-term guests can take advantage of co-working spaces, modern gyms, fitness studios, bike storage, a yoga lawn, an on-site high-end coffee shop and a Jaguar Sun restaurant bar and lounge.
“We are very excited to be launching The Elser Hotel & Residences Miami, together with PMG, in order to capture the strong demand for move-in ready residences in the Downtown Miami market,” says Peter Politis, CEO of Greybrook Realty Partners. “The short-term rental optionality available to owners, coupled with the high caliber of finishes and offerings, will continue to serve the city as it experiences a population, tourism and corporate relocation boom.”
The Elser Hotel & Residences proves itself a top-tier real estate investment with a location known for being among the best in luxury real estate. But above and beyond being a great property, the building proves itself a worthwhile, low-barrier investment too.
The way the purchase agreement is organized, international buyers are given a chance to purchase a condo using cryptocurrency without the traditional hurdles that come with international banks and exchanges.
Residences are currently priced from the $600,000s but are also available at an equivalent cryptocurrency exchange rate via an exclusive agreement with FTX US as the sole platform handling cryptocurrency conversions for deposits and residential transactions.These high-end properties effectively become more than just an opportunity for investment into the lucrative Miami real estate market — they also offer users a bridge for diversification from the cryptocurrency market to real estate.
The Elser then becomes a testament to the growing demand for cryptocurrency investments — especially in Miami. Accordingly, partnerships like this continue to be crucial to Miami's forward thinking and growth as an epicenter for the cryptocurrency industry.
