Branded condo trend grows with Banyan Tree project in West Palm Beach

Camilo Miguel Jr.’s Mast Capital and Curated JCZM Development are launching a Banyan Tree-branded condo project in West Palm Beach.

Banyan Tree Residences West Palm Beach marks the brand’s first U.S project, according to a news release. Banyan Tree is a subsidiary of the Singapore-based hospitality giant Banyan Group, which has a portfolio of luxury hotels and residential communities primarily in Asia and the Middle East.

The planned 25-story, 88-unit tower will include units spanning between one and four bedrooms,  a 5,700-square-foot private club and 6,400 square feet of ground floor retail, according to the release and planning documents. The developers tapped a design team for the project that includes architecture firm OMA, interiors studio Yabu Pushelberg and landscape architect Enzo Enea, the release shows.

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Douglas Elliman Development Marketing is leading sales for the project, and prices start at $1.9 million, according to the release. Construction is expected to finish in 2029.

Miguelo’s Mast is based in Miami. Curated JCZM is a newly formed partnership between Josh Simon’s Curated Development and Josh Smith’s JCZM Family Investments based in Palm Beach County. The developers presented their proposal for the project at West Palm Beach’s Plans & Plats Review Committee earlier this month.

Mast bought the 0.9-acre site at 635 South Dixie Highway from FLF Holdings for $5.2 million last April, property records show.

Banyan Tree Residences marks the latest addition to West Palm Beach’s growing pipeline of branded condos. 

The concept, long popular in Miami, only reached West Palm Beach in 2023, when David Martin’s Terra launched the Mr. C Residences West Palm Beach. That 27-story project is under construction and set to include 146 condos and 110 hotel keys, and is now more than 85 percent presold. Related Group and BH Group’s planned 27-story, 138-unit Ritz-Carlton Residences, West Palm Beach is 80 percent presold. 

Last month, Great Gulf launched sales for its planned Mandarin Oriental Residences, West Palm Beach, which is slated for 31 stories and 87 units.