Who Developed Delano Residences Miami? Property Markets Group's 35-Year Track Record

Delano Residences Downtown Miami is developed by Property Markets Group (PMG), a New York-based firm with 35+ years building ultra-luxury supertall towers across North America. PMG is among the most prolific supertall developers in the US, known for architectural innovation and on-time delivery. With Waldorf Astoria Residences already under construction on Biscayne Boulevard, PMG will have two supertall residential towers side by side in Downtown Miami—an unprecedented vertical concentration of trophy real estate.

If you're considering Delano Residences, understanding the developer matters. You're not buying into a speculative startup or a one-off project. You're joining a PMG portfolio that includes Manhattan icons like Steinway Tower (111 West 57th Street), one of the world's most architecturally significant supertall residential buildings. Let me walk you through PMG's track record, what it means for Delano, and why this matters for your investment.

Who is Property Markets Group (PMG)?

Property Markets Group is a privately held real estate developer headquartered in New York, with deep expertise in luxury residential development across major North American markets. The firm was founded in the late 1980s and has spent the last three and a half decades building some of the most significant supertall residential towers in the world.

What sets PMG apart isn't just scale—it's specialization. They don't dabble. They focus on supertall residential development: buildings that demand architectural innovation, engineering excellence, and uncompromising execution. For a buyer at Delano, this means you're dealing with developers who have solved every problem a 90-story residential tower can throw at them, twice over.

PMG's portfolio spans:

• Manhattan: Steinway Tower (111 West 57th Street), Nordstrom Tower (111 West 59th Street), and other iconic residential developments
• Toronto: Major luxury residential projects
• Boston: High-end residential developments
• Miami: Waldorf Astoria Residences (under construction, 2028 delivery) and Delano Residences (2031)

That's the PMG playbook: enter major markets, build landmark residential towers, and establish themselves as a premier developer. They don't rush projects. They execute them right.

The Iconic Project: Steinway Tower (111 West 57th Street)

If you want to understand what PMG is capable of, look at Steinway Tower in Manhattan. This is the project that defines the firm's approach to ultra-luxury residential development.

111 West 57th Street, completed in 2020, is an architectural and engineering marvel. It stands 1,428 feet tall with a groundbreaking 18:1 height-to-width ratio—meaning the building is nearly as wide as it is tall is wide. To put this in perspective: most buildings have a 3:1 to 5:1 ratio. Steinway Tower's proportions are so extreme they required innovative structural engineering to manage wind loads, sway, and structural stability.

The building is clad in bronze and glass, featuring an innovative facade that changes appearance throughout the day as light reflects across its surface. Inside, residences feature floor-to-ceiling windows—some with 15-foot ceilings—offering unobstructed views of Central Park, the Hudson River, and the Manhattan skyline. Units range from 1-bedrooms to multi-story penthouses exceeding 6,000 square feet.

Why is this relevant to Delano Residences? Because it demonstrates PMG's commitment to architectural distinction and engineering excellence. Delano won't be a cookie-cutter glass tower. It will be a distinctive, branded residential experience—shaped by the Delano brand's legacy of design-forward luxury (born from Philippe Starck's 1997 reimagining of the original Delano Hotel Miami Beach).

PMG's Miami Entry: Waldorf Astoria Residences (Opening 2028)

PMG's second major project in Miami is Waldorf Astoria Residences, currently under construction on Biscayne Boulevard, just adjacent to Delano Residences. This $1.5B+ development is transforming Downtown Miami's skyline.

Waldorf Astoria Residences will be:

• Miami's First Supertall Residential Tower — the city's tallest residential building
• Iconic Architecture: Designed by Herzog & de Meuron, the renowned Swiss architecture firm behind the Beijing Stadium and the Walker Art Center
• Luxury Positioning: A branded residence experience combining the Waldorf Astoria's century-old tradition of refined hospitality with contemporary residential amenities
• 2028 Completion — on track for delivery within five years

Waldorf Astoria Residences validates PMG's commitment to Miami and demonstrates the firm's capability to execute on a signature project in a new market. The building is already reshaping Downtown Miami's identity. When it opens in 2028, it will establish the Biscayne Boulevard corridor as Miami's premier ultra-luxury residential address.

And then, three years later, Delano Residences will join it. Two PMG supertalls bookending one of the most significant stretches of Biscayne Boulevard.

Two Supertalls, Side by Side: What This Means for Delano Buyers

Here's what's remarkable: after Waldorf Astoria opens in 2028, PMG will have demonstrated flawless execution on a flagship Miami tower while construction on Delano is already underway. By the time Delano delivers in 2031, Waldorf Astoria will be an established landmark, filled with residents, operational, proven.

This matters for a simple reason: you're not the first buyer trusting PMG with Miami. The buildings next door already prove PMG knows how to deliver in this market.

Think about the lessons PMG will have learned during Waldorf Astoria's construction and operation:

• Miami's labor market and supply chain dynamics
• Local permitting timelines and regulatory requirements
• Miami's climate challenges and building resilience standards
• Buyer preferences for Miami ultra-luxury residential (unit layouts, finishes, amenities)
• Operational best practices for managing a luxury residential tower in Miami

All of that institutional knowledge flows directly into Delano. PMG won't be learning on your dime. They'll be executing with 35 years of supertall expertise plus the specific Miami experience from Waldorf Astoria.

Visit Waldorf Astoria Residences to see what PMG is building on Biscayne Boulevard right now.

Why PMG Chose the Delano Brand for Miami

Delano is not a new brand to Miami—it's an iconic one. The original Delano Hotel Miami Beach opened in 1947, then was completely reimagined by legendary designer Philippe Starck in the 1990s, becoming one of the most influential boutique hotels in the world. Starck's design—minimalist, theatrical, with a signature white color palette and sculptural details—became the template for luxury hospitality design globally.

In 2022, Ennismore (a subsidiary of Accor Hotels) acquired the Delano brand, signaling a major expansion. The original Delano Miami Beach is currently undergoing renovation and will reopen in 2026. But more significantly, Delano Residences Downtown Miami is the first standalone residential offering under the Delano brand—a first globally.

PMG's selection of the Delano brand for its flagship Miami residential tower is strategic. It's not a generic luxury brand. It's Miami's original design-forward luxury icon, now backed by Accor's global hospitality expertise. The brand promise: refined minimalism, distinctive architecture, curated hospitality service, and cultural distinction.

For PMG, this is the perfect match. Delano's design heritage mirrors PMG's architectural approach (think Steinway Tower's iconic facade). For buyers, it means your residence is part of a global luxury ecosystem—not just a residential tower, but a branded lifestyle.

PMG's Global Ambitions: Supertall Expansion Beyond Manhattan

For decades, PMG was a Manhattan-focused developer. Steinway Tower and Nordstrom Tower established them as icons of New York residential architecture. But over the past five years, PMG has been expanding globally.

Miami is a strategic market for PMG's expansion. Why? Because Miami has:

• An established ultra-wealthy demographic (Latin American, Canadian, and international buyers)
• A proven market for $2M+ residential units
• A global reputation as a destination city (unlike some other US markets)
• Access to international capital flows (crucial for premium residential pricing)
• A skyline that's still being defined (unlike Manhattan's built-out geography)

PMG's entry into Miami with Waldorf Astoria and Delano signals that the firm is thinking bigger than Manhattan. They're building a global supertall residential portfolio. And they're starting that expansion in a market—Miami—that matters to their target buyer.

For Delano residents, this means you're not just buying into a Miami tower. You're buying into a developer's flagship expansion into a major new market. That's the kind of developer focus and capital commitment that attracts institutional real estate investors.

Does PMG Deliver on Time? The Track Record

Let me be direct: PMG's delivery record on major projects is strong. Steinway Tower was completed and delivered on schedule. Their Toronto and Boston projects were completed and operational. The firm has built a reputation for managing complex, architecturally distinctive towers without the cost overruns and timeline delays that plague many developers.

That said, no developer is perfect. The Waldorf Astoria Residences project, like all major construction efforts, has faced supply chain challenges and permitting complexities. Current completion is targeted for 2028. Once that tower is open and operating, we'll have real-time evidence of PMG's Miami execution.

For Delano, here's what matters: PMG has a strong track record of delivery. The firm's reputation is built on completing signature buildings. And the deposit structure is phased with milestones (10% at contract, additional tranches tied to construction progress), which means PMG's skin is in the game alongside yours.

Want details on Delano's deposit schedule and payment timeline? Contact WIRE Miami. Call 305-321-7655 and I can walk you through the numbers.

What PMG's Track Record Means for Your Delano Investment

If you're considering Delano Residences as an investment, PMG's developer profile matters significantly. Here's what you should understand:

1. Architectural Distinction = Appreciation Potential

PMG doesn't build generic towers. Steinway Tower appreciated significantly post-completion because it's an iconic building that attracts global interest. Delano, positioned as a branded luxury residential tower with design heritage, has similar upside.

2. Brand Partnerships Signal Longevity

PMG's partnership with Ennismore/Accor (for the Delano brand) and Herzog & de Meuron (architects) are A-list collaborators. Luxury partnerships like this don't happen with fly-by-night developers. They signal institutional-quality development.

3. Location Advantage

Delano is positioned on Biscayne Boulevard between the Perez Art Museum, the American Airlines Arena (Kaseya Center), and South Pointe Park. It's steps from the Miami River, blocks from Brickell, and directly across from Wynwood. As Downtown Miami's cultural and entertainment districts mature, this location becomes more valuable, not less.

4. Dual Supertall Effect

With Waldorf Astoria opening in 2028 and Delano in 2031, Biscayne Boulevard becomes Miami's new prestige address. Developer branding and visibility matter for real estate appreciation. Two signature PMG towers in close proximity create a neighborhood effect.

5. International Buyer Pool

PMG's Manhattan reputation attracts global capital. Expect Delano to attract international buyers—not just Miami locals. That's the demographic that drives appreciation in trophy markets.

The bottom line: PMG is a serious developer with a global track record. Your investment in Delano isn't speculative. It's in a tower built by one of the most prolific supertall developers in North America.

Want to compare Delano Residences with other Downtown Miami developments? Explore Delano Residences pricing and floor plans, or check out Waldorf Astoria Residences—the neighboring supertall also developed by PMG. And for broader context on Miami's pre-construction market, read our guide to Delano and Miami's luxury residential landscape.