Luxury Condo Conversion: The Astoria Residences

Deal value: $78,000,000

Conversion of a 120-unit luxury apartment building in Miami, FL, into high-end condominiums, targeting international buyers and maximizing price per square foot.

The core investment motivation is to capitalize on Miami’s resilient luxury condo market, where price per square foot has reached historic highs and international demand remains strong. The strategic purpose is to convert rental apartments into high-end condominiums, targeting affluent global buyers seeking premium residences in a business-friendly, low-tax environment. This allocation is driven by the belief that Miami’s luxury sector will continue to outperform, supported by policy incentives and a reputation as a safe haven for wealth.