The 25-story, Koolhaas-designed tower just won unanimous city approval as the Singapore brand's first US residences. Condos start around $1.9 million, one block from CityPlace.
Key Takeaways
- West Palm Beach's Downtown Action Committee gave unanimous approval to Banyan Tree Residences, a 25-story, 88-unit condo tower at 400 Hibiscus Street.
- It will be the Singapore-based Banyan Tree brand's first residential project in the United States, designed by Rem Koolhaas's firm OMA.
- Priced from about $1.9 million and packed with wellness amenities, it joins a wave of branded luxury towers reshaping downtown.
Downtown West Palm Beach keeps stacking up luxury towers, and the newest one carries a name most Americans have never seen on a condo. According to Florida YIMBY, the city's Downtown Action Committee just gave unanimous approval to Banyan Tree Residences, a 25-story tower one block from CityPlace that will be the Singapore hospitality brand's first residences in the United States. It is one more sign of how far upmarket the city has climbed.
What did West Palm Beach approve?
On August 12, the city's Downtown Action Committee voted unanimously and unconditionally to approve Banyan Tree Residences, an 88-unit condo tower at 400 Hibiscus Street in downtown West Palm Beach, one block east of CityPlace. The approval lets the project move ahead at 25 stories with a 5.5 floor-area ratio through Transfer of Development Rights, and it followed about a year of coordination with city staff and neighbors.
The design comes from OMA, the firm of Pritzker Prize-winning architect Rem Koolhaas, with interiors by Yabu Pushelberg and landscape by Enzo Enea. Two interlocking volumes rise above a podium, with wraparound terraces and broad glass, and every home is designed as a corner residence. Units run from one to four bedrooms plus a penthouse collection, roughly 1,000 to 2,200 square feet, priced from about $1.9 million, with delivery expected in 2029 and sales led by Douglas Elliman.
Why is a Singapore hotel brand building here?
This is the first US residential project under the Banyan Tree brand, a Singapore-based luxury hospitality group founded in 1994 that began by rehabilitating an abandoned tin mine at Bang Tao Bay in Phuket, Thailand. It pioneered the private pool-villa resort and a signature spa philosophy, which is why the brand is tied to wellness, and it runs more than 40 properties across 20-plus countries, with almost no US footprint to date.
Wellness is the Whole Pitch
That wellness DNA shows up all over the building. As Larry Mastropieri noted on the Discover South Florida Podcast: "It's got a full-floor spa program. Sounds great. Huge wellness center. They got all the good stuff."
The amenity list backs him up: a full-floor spa with a meditation dome and garden, a hammam, cryotherapy, a cold plunge, a sauna, rainforest showers, a resort-style pool with cabanas, an open-air cinema, indoor and outdoor fitness, a Pilates studio, and a private porte cochère, plus access to the brand's global network of resorts and spas through The Sanctuary Club. A global wellness brand choosing West Palm for its American debut says a lot about where the market is headed.
How does it fit downtown West Palm's luxury boom?
Banyan Tree is far from alone. It lands in a downtown and waterfront stack of branded, marquee-architect towers, including the Mandarin Oriental Residences from Great Gulf, the Ritz-Carlton Residences from Related and BH, and Mr. C Residences from Cipriani. Each new project tries to one-up the last on brand cachet and amenities, which is the arms race: developers competing to sell the most luxurious address in a downtown that barely had a luxury condo market a decade ago.
And it is happening fast. As Larry put it after a recent drive through the area: "It's chaos in downtown West Palm right now with construction." Banyan Tree also sits a block from the Related Ross office towers rising at CityPlace, which ties the luxury-condo wave to the same downtown-core growth pulling employers and residents into the city center.
Thinking about buying into downtown West Palm Beach's luxury boom? With this many branded towers competing, a local guide helps you compare them. Talk to a real estate agent in West Palm Beach who tracks the downtown pipeline. Reach out to The Mastropieri Group, Realtors® or call (561) 556-9853.
What does this mean for West Palm Beach?
For the market, Banyan Tree is another signal that West Palm has graduated from a tertiary market behind Miami and Fort Lauderdale to a luxury destination in its own right, attracting international brands and renowned architects. When a Singapore wellness group picks your downtown for its US debut, the market has clearly arrived.
The pace does come with friction. The Banyan Tree approval came over objections from a downtown activist group worried that the speed of construction is turning the core into a permanent job site, and the city recently paused certain waterfront projects for six months. For buyers, the branded-condo wave means more choice at the very top of the market and more competition among sellers to stand out. For longtime residents, it means a downtown that keeps changing quickly.
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Frequently Asked Questions
What is Banyan Tree Residences West Palm Beach?
It is a 25-story, 88-unit luxury condominium tower approved for 400 Hibiscus Street in downtown West Palm Beach, one block from CityPlace. It will be the first residential project in the United States under the Singapore-based Banyan Tree hospitality brand, and it won unanimous city approval on August 12, 2026.
How much do Banyan Tree Residences cost?
Residences are priced from about $1.9 million, with penthouses reaching several times that. Units range from one to four bedrooms plus a penthouse collection, roughly 1,000 to 2,200 square feet, and delivery is expected in 2029. Douglas Elliman Development Marketing is handling sales.
Who designed Banyan Tree Residences?
The tower was designed by OMA, the architecture firm founded by Pritzker Prize-winning architect Rem Koolhaas, with interiors by Yabu Pushelberg and landscape design by Enzo Enea. The developers are Mast Capital and Curated JCZM Development, in collaboration with Banyan Group.
What wellness amenities will Banyan Tree Residences have?
The building leans heavily into wellness, with a full-floor spa program that includes a meditation dome and garden, a hammam, cryotherapy, a cold plunge, a sauna, and rainforest showers. It also offers a resort-style pool with cabanas, an open-air cinema, fitness studios, and access to Banyan Tree's global network of resorts and spas.
Why is West Palm Beach getting so many luxury towers?
The city has rapidly transformed into a magnet for wealth and corporate relocation, which has drawn a wave of branded residences from names like Mandarin Oriental, Ritz-Carlton, and Cipriani's Mr. C, along with marquee architects. Developers are competing to offer the most prestigious downtown address, and Banyan Tree is the newest entry.
Local help for West Palm Beach buyers, sellers, and investors
Whether you are weighing a branded condo, selling in a crowded luxury market, or just tracking how downtown's boom shapes values, it helps to work with a team that closely follows West Palm Beach development. Reach out to The Mastropieri Group, Realtors® in West Palm Beach, or call (561) 556-9853 for practical, hands-on guidance across South Florida.
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