The Residences at Mandarin Oriental, Miami Logs More Than $1.7B in Presales Ahead of Construction
The Residences at Mandarin Oriental, Miami has more than $1.7B in presales ahead of construction, according to Profile Miami and Bloomberg, with the South Tower about 80% sold and the North Tower about 25% sold. Swire Properties broke ground on Brickell Key on Thursday, Oct. 1.
Total presales at The Residences at Mandarin Oriental, Miami have surpassed $1.7 billion, Profile Miamireported on Oct. 5, 2026. Bloomberg reported on Oct. 1 that Swire Properties had sold $1.7 billion worth of condos at the Brickell Key project before breaking ground. Both outlets put the South Tower at about 80% sold and the North Tower at about 25% sold. These are presales of new residences, not resales.
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Where the presales stand
According to Profile Miami, the project has generated more than $620 million in sales in 2026 alone, including more than $150 million in what the outlet describes as a record three-month summer period. The North Tower has reached 25% sold since the Signature Gallery opened in May, and the South Tower is now 80% sold, Profile reports.
| Presales figure | Detail | Source |
|---|---|---|
| Total sales, both towers | More than $1.7 billion | Profile Miami, Oct. 5, 2026 |
| Sales before breaking ground | $1.7 billion | Bloomberg, Oct. 1, 2026 |
| Sales in 2026 | More than $620 million | Profile Miami |
| Three-month summer period | More than $150 million | Profile Miami |
| South Tower (66 stories, 228 residences) | About 80% sold | Profile Miami; Bloomberg |
| North Tower (33 stories, hotel plus residences) | About 25% sold | Profile Miami; Bloomberg |
Swire breaks ground on Brickell Key
Swire Properties broke ground on The Residences at Mandarin Oriental, Miami on Thursday, Oct. 1, with an evening ceremony marking the start of construction. The groundbreaking drew Laurent Kleitman, Group Chief Executive of Mandarin Oriental; Tim Blackburn, Chief Executive of Swire Properties; Dave Martin, president of Swire Properties; and Miami-Dade County Mayor Daniella Levine Cava, according to Profile Miami’s coverage. Per Profile, it comes less than six months after the controlled demolition of the former Mandarin Oriental, Miami hotel, which paved the way for the waterfront site’s next chapter.
“Breaking ground on The Residences at Mandarin Oriental, Miami marks another important milestone in Swire Properties’ long-term vision for Brickell Key,” Blackburn said, according to Profile Miami. “Our strong sales momentum reflects the project’s differentiated value in South Florida’s competitive luxury market—driven by its prime waterfront location, the development team’s track record, the global brand recognition of Mandarin Oriental, and world-class design partners.”
“This groundbreaking marks an exciting new chapter for Mandarin Oriental and our return to Brickell Key,” Kleitman said, per Profile Miami. “Our ambition is to create an exceptional hotel and residences that bring together memorable experiences, outstanding craftsmanship and the legendary service that defines Mandarin Oriental. Today marks an important step in bringing that vision to life and creating an enduring connection with Miami and its community.”
“This is the most premier building built in Miami, and we have placed our clients in this building with extreme confidence,” said Seth Semilof, [TITLE — confirming with Seth].
Who is buying
Bloomberg reports that buyers are about 65% domestic, a higher share than is typical for Miami’s top end, which has historically drawn more international clients. Out-of-state buyers come from California, New York and Massachusetts, and buyers from the finance and tech industries are driving demand, with many paying all cash, Martin told Bloomberg. About 30% of buyers so far plan to use their residences as a primary home and 60% as a second home, he said.
Prices have risen 30% since South Tower sales began in 2024, according to Bloomberg. Martin cited two large Brickell office projects, Banco Santander’s tower at 1401 Brickell Avenue and Citadel’s headquarters a few blocks south, as drivers of activity that is benefiting sales. Swire is self-financing construction and can draw on proceeds from the sale of its Brickell City Centre assets and part of buyer deposits, Bloomberg reports.
The project at a glance
Swire Properties is developing two towers with 326 residences on Brickell Key, with remaining inventory from $4,275,000 and delivery estimated for 2030. Profile Miami says the project is advancing on schedule for 2030 delivery and is Swire’s largest luxury residential development to date and its first branded residential development globally.
| Detail | The Residences at Mandarin Oriental, Miami |
|---|---|
| Developer | Swire Properties |
| Location | Brickell Key, Miami |
| Towers | Two: North Tower and South Tower |
| Residences | 326 |
| Remaining inventory | From $4,275,000 |
| Delivery | 2030 (est.) |
| Architect | Kohn Pedersen Fox (KPF) |
Per Profile Miami, the 33-story North Tower will hold what is poised to be Mandarin Oriental’s North American flagship hotel with 121 guest rooms, plus 70 private residences and 28 turnkey Hotel Collection residences. The 66-story South Tower is dedicated to 228 private residences. Laura Gonzalez is designing the North Tower residences and Tristan Auer the South Tower interiors, with landscape architecture by SHMA. North Tower residences range from two to four bedrooms and South Tower residences from two to five, Profile reports.
Earlier this year, the two crown penthouses sold to separate buyers for $49.9 million each, per Profile Miami; we covered those sales in The $100 Million Crown.
Further reading
For island context, tower differences and buyer questions, see our Mandarin Oriental Brickell Key buyer guide. To compare the project with other branded towers in the Brickell orbit, see the Brickell branded tower matrix.
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FAQ: Mandarin Oriental Miami presales
How much has The Residences at Mandarin Oriental, Miami sold in presales?
Total presales have surpassed $1.7 billion, Profile Miami reported on Oct. 5, 2026, and Bloomberg reported $1.7 billion in sales on Oct. 1. Profile says more than $620 million of that came in 2026, including more than $150 million over three summer months. These are sales of new residences, not resales.
How much of each tower is sold?
According to Profile Miami and Bloomberg, the 66-story South Tower, with 228 residences, is about 80% sold. The 33-story North Tower, which includes a 121-room Mandarin Oriental hotel, is about 25% sold. Profile says the North Tower reached that level after its Signature Gallery opened in May.
Has construction started, and when is delivery?
Yes. Swire Properties broke ground on Brickell Key on Thursday, Oct. 1, and Profile Miami says the project is advancing on schedule for delivery in 2030. The project comprises two towers and 326 residences, with remaining inventory from $4,275,000. Pricing moves in releases, so current figures may differ.