Swire Launches Sales for North Tower of The Residences at Mandarin Oriental, Miami

Key Points

• The developer Swire Properties has launched sales for the North Tower, offering 70 two-to-four-bedroom Private Residences and 28 turnkey Hotel Residences, starting at $3.9 million for private homes and $3.8 million for hotel residences.

• The project already generated about $1.2 billion in contract value from earlier sales in the South Tower, averaging around $100 million per month.

• Construction is slated to begin in 2026, with completion expected around 2030, marking the final new-construction lot on the exclusive Brickell Key.

Luxury real-estate investor and landlord audiences: this is a major launch to watch. The Residences at Mandarin Oriental, Miami on Brickell Key has opened its next phase – the North Tower – blending ultra-luxury homes with a new flagship hotel under the Mandarin Oriental brand. 

Project Scope & Design Details

• Located on Brickell Key – a private island east of Downtown Miami – the development will consist of two towers. Per Swire, the North Tower will host the new North American flagship Mandarin Oriental hotel plus residences.

• The North Tower: 70 private residences (2–4 bedrooms) plus 28 turnkey hotel residences. In the initial article those appear priced from $3.9 M / $3.8 M.

• Design and amenities: Architecture by Kohn Pedersen Fox (KPF), interiors for North Tower homes by Paris-based designer Laura Gonzalez (her first U.S. residential project) and landscaping by SWMSH Thai firm SHMA. The residences will include floor-to-ceiling glass, premium finishes (Molteni&C cabinetry, Gaggenau appliances), spa-style bathrooms and access to more than 100,000 sq ft of amenities.

• The development is positioned as the final new-construction opportunity on Brickell Key, a draw for scarcity-driven luxury buyers.

Sales Performance & Pricing Dynamics

• The South Tower launched earlier in 2024 (per Swire) and has already surpassed $1.2 billion in contracts, averaging ~$100 M/month.

• South Tower is over 50% sold. This strong uptake signals robust demand at the ultra-luxury tier.

• Pricing for the North Tower begins at ~$3.9 M for private residences and ~$3.8 M for hotel residences according to the article. In other sources, pricing began at ~$4.9 M when earlier marketing launched and ~$2,500-3,000 per sq ft has been cited.

• For context: In Miami’s top-end luxury condo market, branded residences (hotel-affiliated) are increasingly sought after, especially in low-supply locations like Brickell Key.

Timeline, Risks & Investor Takeaways

• Construction: Vertical construction is expected to begin in early 2026, with a projected completion in 2030. 

• Key dates: The existing Mandarin Oriental hotel closed earlier this year in advance of demolition/redevelopment.

• Opportunity for landlords/investors:

  • Buying at pre-construction means capitalizing on early pricing (though $3.9M+ is already premium tier).

  • The combination of branded hospitality/residence format may provide rental or fractional-use potential depending on structure of hotel residences.

  • The ultra-luxury market is more sensitive to economic cycles and high interest rates – holding costs, absorption and global capital flows are key risk factors.

  • Scarcity and location (Brickell Key) are strong positives for long-term value retention.

• Risks to monitor:

  • Timing risk: a 2026 start with 2030 delivery means long-hold exposure.

  • Market risk: Ultra-luxury condo towers in Miami have faced pressure when supply rises or global wealth flows slow.

  • Execution risk: High-end branded developments depend on finish quality, amenities delivery and brand execution.

 

For landlords and commercial brokers, the North Tower at The Residences at Mandarin Oriental, Miami presents a high-end entry into one of Miami’s most exclusive plots. With $3.8 - $3.9M+ price points, a luxury branded environment and demand already proven in the South Tower, it ticks many boxes for the ultra-luxury segment. The delivery timeframe (2026–2030) means a long-term horizon but the scarcity of new-construction opportunities on Brickell Key may support upside.