Raffles Hotels & Resorts Unveils Its First Standalone Branded Residences, Selecting Miami’s Coveted Coconut Grove Neighborhood

Raffles Hotels & Resorts, part of world-leading hospitality group Accor, together with South Florida real estate developers Mast Capital and BH Group, today announced Raffles Residences Coconut Grove, an intimate collection of just 35 private residences at 2545 South Bayshore Drive in Miami’s historic Coconut Grove neighborhood.

As the first standalone Raffles residential development in the brand’s longstanding legacy, Raffles Residences Coconut Grove marks a defining new chapter for one of the world’s most storied names in hospitality. Set along the shores of Biscayne Bay, the development will translate the complete Raffles experience into a purely residential setting, bringing the brand’s legendary service, discretion, and deeply personal approach to hospitality to an exceptionally private waterfront address.

“Raffles has always evolved by bringing its distinctive spirit to new destinations. As a neighborhood with a rich cultural heritage, a strong sense of community, and an effortless sophistication, Coconut Grove is a natural first for our first standalone, branded residences,” said Omer Acar, CEO, Raffles. “Through Raffles Residences Coconut Grove, we are excited to introduce the magical world of Raffles to this unique corner of Miami and look forward to creating a highly personalized residential experience that also feels authentically connected to the community.”

Born with the opening of Raffles Singapore in 1887, the brand has become synonymous with gracious service and cultural discovery. Its storied hotels have welcomed generations of writers, artists, cultural figures, world leaders and discerning travelers, becoming places as memorable for the lives lived within them as for their architecture and surroundings. Its legendary Butler Service remains one of the most recognizable expressions of personalized hospitality in the world.

Raffles made its North American debut with Raffles Boston, a mixed-use hotel and residential property. Coconut Grove will represent a fundamentally different expression of the brand – created entirely around private residential ownership and conceived as a collection of generational residences, the development will comprise a select range of private homes crowned by a limited offering of penthouses. The intimate scale will allow the residential experience to be highly individualized, with homeowners known personally, preferences understood, and services shaped around the rhythms of daily life.

“Coconut Grove has always held a distinct place within Miami, evolving over generations while preserving the character and authenticity that make it unlike anywhere else,” said Camilo Miguel Jr., Founder and CEO of Mast Capital. “Its history, discretion, and deep connection to place are naturally aligned with what Raffles has represented for nearly 140 years. Working with Raffles to bring their first standalone residential development to the Grove gives us a rare opportunity to create something truly singular: a new waterfront landmark that is unmistakably Raffles but could only exist in Coconut Grove.”

As Miami’s oldest neighborhood, Coconut Grove has retained a character uniquely its own. Its winding roads disappear beneath a lush tree canopy, historic estates sit quietly along the waterfront and life remains intimately connected to Biscayne Bay. Even amid Miami’s extraordinary evolution, Coconut Grove has preserved an increasingly rare sense of escape, where history, waterfront living and residential privacy coexist just moments from the energy of the city. With limited opportunities for new development, this enduring character has fueled demand while constraining new inventory, driving Coconut Grove’s emergence as one of South Florida’s most coveted residential markets.

Envisioned as a serene sanctuary of modern design, Raffles Residences Coconut Grove rises as a sculpted waterfront landmark, seamlessly marrying the sophistication of Raffles with the sun-drenched romance of Coconut Grove. The architecture is led by the renowned Brandon Haw Architecture, founded by Haw following a 26-year tenure alongside Lord Norman Foster at Foster + Partners, where he directed the global practice’s U.S. operations before establishing his own firm in 2014. Supported by Accor One Living, an innovative platform in the industry that offers a 360º approach to the development, design, and operation of mixed-use projects and branded residential communities, the site will occupy a singular position where Biscayne Bay meets Coconut Grove’s expansive tree canopy, capturing sweeping views across the bay, over Coconut Grove’s private residential enclaves, and toward the Miami skyline. From sunrise over Biscayne Bay to evenings framed by the lights of the city, the setting offers a perspective rarely found in Miami connected to its energy, yet removed enough to feel entirely its own.

“At this scale, the Raffles philosophy of hospitality can be experienced on a deeply personal level,” said Isaac Toledano, Founder of BH Group. “Homeowners can be known, their preferences understood and the experience shaped around the way they live. That level of recognition, service, and privacy is increasingly difficult to achieve, particularly in a market where opportunities for new waterfront residences are so finite. Raffles Residences Coconut Grove brings together an extraordinary brand, an irreplaceable site, and a level of intimacy that simply cannot be replicated at a larger scale.”

Here, the expression of luxury will be found as much in what is felt as what is seen: the discretion of arriving home, the ease of having preferences remembered, the ability to entertain effortlessly and the quiet assurance of service that appears precisely when desired. Homeowners will be known personally, with Raffles’ celebrated approach to hospitality shaped around the rhythms, rituals and individual preferences of daily life. Through the Accor Ownership Benefits Program, residential owners will also have access to signature benefits that elevate their daily lives, including global VIP recognition and Elite membership in the ALL Accor loyalty and rewards program, with access to preferred rates at more than 45 brands and over 5,800 Accor hotels and resorts worldwide.

Sales are anticipated to launch this Fall, with residences priced from $4.5 million USD.

To register your interest, or more information on Raffles Residences Coconut Grove, please visit RafflesResidencesCoconutGrove.com.

ABOUT ACCOR
Accor is a world leading hospitality group offering experiences across more than 110 countries, with 5,800 properties, 10,000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion.  Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit group.accor.com or follow us on X, Facebook, LinkedIn, Instagram and TikTok. 

ABOUT RAFFLES
Founded in Singapore in 1887, Raffles Hotels, Resorts and Residences are places where ideas are born, history is made and stories and legends are created. At each landmark address, distinguished guests and residents will find a world of elegance and enchanted glamour, where Raffles’ renowned legacy of gracious service knows no bounds. As the authentic heart of a destination, Raffles champions fine art and design, and fosters culture in all its forms, guiding guests to make discoveries in their own time and way. Raffles’ commitment to local communities is expressed through diverse initiatives with a unified mission to actively support the arts and the environment. From one generation to the next, visitors arrive as guests, leave as friends, and return as family. Raffles can be found in key international locations including Singapore, Paris, London, Boston, Istanbul, Dubai, Doha, Jaipur, Phnom Penh and Bali, among others. Raffles is part of Accor, a world leading hospitality group counting over 5,800 properties throughout more than 110 countries, and a participating brand in ALL Accor, a booking platform and loyalty program providing access to a wide variety of rewards, services and experiences.

ABOUT MAST CAPITAL
Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. Mast Capital has made successful acquisitions in the residential, hospitality, office, retail and land sectors, and targets opportunistic and value-add investments in existing property, ground-up development, distressed real estate, and note purchases. The firm employs a sophisticated approach to structuring its acquisitions, maximizing value to its investors while providing creativity and flexibility to sellers and other third parties to execute highly complex transactions. Mast Capital is led by a senior management team with over 75 years of combined real estate experience and transactions exceeding more than $5 billion. For more information on Mast Capital’s portfolio, visit www.mastcapital.com.

ABOUT BH GROUP
BH Group is a Florida-based real estate development firm focused on the ground-up development of luxury projects throughout South Florida. BH has extensive experience in the acquisition, construction, design, capital structuring and asset management of complex developments. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and developments by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. For more information, please visit www.bhgroupmiami.com

ABOUT DOUGLAS ELLIMAN DEVELOPMENT MARKETING
Douglas Elliman Development Marketing, a division of Douglas Elliman Realty, offers unmatched expertise in sales, leasing, and marketing for new developments throughout New York, New Jersey, Massachusetts, Florida, Texas, Colorado and California. The company’s new development hybrid platform matches highly experienced new development experts with skilled brokerage professionals who provide unparalleled expertise and real time market intelligence to its clients. The firm is heralded for its achievements in record-breaking sales throughout each of its regions. Drawing upon decades of experience and market-specific knowledge, Douglas Elliman Development Marketing offers a multidisciplinary approach that includes comprehensive in-house research, planning and design, marketing, and sales. https://www.elliman.com/new-development.