Where Banyan Tree Residences stands today is a fact you can check without asking the sales team: the county’s permit record, the site itself and the construction lender’s inspections all say how far a tower has risen. Progress runs in stages, from the permit through the foundation, the structure, topping off, the facade and the certificate of occupancy, and the deposit schedule is written around those same stages. Here is how to read where Banyan Tree Residences is, and what that means for a buyer deciding whether to sign now or wait.
This page is a framework. Whether the building suits you is a separate conversation. Contact the desk at Miami Dossier for the current position on any building we cover.
A Miami condominium is sold before it exists, and the gap between the launch and the keys is the whole subject of this page. In order: the reservation, then the contract once the condominium documents are filed with the state; the building permit and the construction loan, which in most projects wait for a sales threshold the lender sets; the foundation, piles driven deep and a mat poured over weeks; the structure; topping off, when the last slab is poured; the facade and the interiors, which take longer than buyers expect; and the certificate of occupancy, after which closings begin. Ask which of these Banyan Tree Residences has passed and on what date. The tower as planned: 88 private residences plus a penthouse collection: one- to four-bedroom corner residences with wraparound terraces, 10-foot ceilings, floor-to-ceiling impact glass, direct elevator entry in most; Yabu Pushelberg kitchens with Sub-Zero and Wolf; primary baths with rain shower and sculptural freestanding tubs. The architect whose drawings the permit was issued on: OMA (architecture); Yabu Pushelberg (interiors); Enea Landscape Architecture.
Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
Progress is public. Miami-Dade County, Palm Beach County and the cities each keep a permit portal where the master building permit and its inspections can be read by anyone with the address; a permit not yet issued means a tower not yet started, whatever the renderings say. The site can be driven past, and a crane, a pile driver or a topped-off structure tells you more than a film. Ask the developer of Banyan Tree Residences for the construction lender’s name and whether the loan has closed, because a lender’s draw inspections are the most disciplined record of progress there is, and ask for dated photographs rather than renderings; read any update for dates and floor numbers, not adjectives. Where the site is: 400 Hibiscus Street, West Palm Beach, FL 33401; downtown, moments from the Intracoastal Waterway, near Worth Avenue, CityPlace and Royal Poinciana Plaza. Who is building it, and on whose paper: 400 Hibiscus Acquisitions, LLC; presented as Mast Capital and Curated JCZM Development.
The deposit schedule for a new condominium is usually written around construction milestones: a payment at contract, another at groundbreaking or at the permit, another at topping off, the balance at closing. That is not an accident; it ties your money to the developer’s progress and gives you a date to verify before each wire. Before a milestone payment, confirm the milestone happened: the permit record for the groundbreaking, the site for the top-off. Florida law governs how a developer may hold and use deposits on a pre-construction condominium, and the contract names the escrow agent who holds yours; read both with counsel, and ask what happens to each payment if a milestone is missed. The schedule for Banyan Tree Residences as published or held: The deposit schedule is held by the desk and read with you before contract. What you are paying for, as described: The homes are as the dossier records.
Progress tells you where the building is; it does not tell you when it will finish, and nobody honest will give you that date as a promise. The contract carries an estimated completion date and an outside date, and the gap between them is the developer’s cushion; what progress adds is evidence. A topped-off tower is nearer its keys than a fenced lot, and a buyer who checks the record each quarter knows which Banyan Tree Residences is. The operator who will run the building once it opens, where there is one: Banyan Tree (Banyan Group); owners join The Sanctuary Club with priority access and preferred rates across more than 100 Banyan Group properties in more than 20 countries; a dedicated 24-hour host and service team trained in Banyan Tree hospitality. What the finished building is meant to hold: A full floor of wellness and spa: reflection and meditation garden, treatment rooms, rainforest showers, hammam, steam, sauna, soaking baths, cold plunge, cryotherapy, meditation dome, ice fountain; signature pool and cabanas; juice bar; garden bar and lounge; open-air cinema; golf simulator; speakeasy; rooftop amenity deck; children’s discovery garden; pet retreat; putting green.
The trade-off is choice against certainty. Signing early at Banyan Tree Residences means the widest choice of line and floor and the longest wait, with the deposits out and the finish unseen; signing late means a building you can stand in and whatever remains on the price list. The desk reads the permit record, the lender’s status and the deposit schedule for Banyan Tree Residences with you before either decision.
A rendering is a promise. A permit is a fact. Pay on the fact.
Developer materials for Banyan Tree Residences as carried on the live dossier, verified September 2026. Compiled by the desk at Miami Dossier; figures are approximate and the developer’s.
Contact the desk at Miami Dossier for the documents behind this note, read one to one with you and your advisers.
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We hold no listings and we are not the developer. Contact the desk at Miami Dossier and we will tell you what applies to your situation, what does not, and where we would not proceed. On this topic that means the document before the opinion. Where a question is legal, tax or structuring, we introduce you to advisers who handle that properly rather than answering it ourselves.
Samuel Strauch is the owner of Metrik Real Estate. His team of agents represents buyers in Miami pre-construction.
A person replies within 24 hours, usually much sooner. On weekends, back on Monday morning.
