Developer of The Ritz-Carlton Residences, Waikiki Beach Launches Final Phase of Sales, Breaks Ground on Second Luxury Condominium Tower

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Real estate development firm, Irongate, has broken ground on the second tower of The Ritz-Carlton Residences, Waikiki Beach and launched the final phase of sales at the luxury residential community.

The Ritz-Carlton Residences, Waikiki Beach

'We are thrilled to be bringing the world’s best hotel and residences brand to Waikiki,' said Jason Grosfeld, founder of Irongate.

Real estate development firm, Irongate, has broken ground on the second tower of The Ritz-Carlton Residences, Waikiki Beach and launched the final phase of sales at the luxury residential community.

The development is approaching 90 percent sold since it hit the market in the summer of 2013. The final phase is now selling and includes a collection of studio, one-, two- and three-bedroom residences priced from $949,800 to $3.5 million as well as a handful of one-of-a-kind- penthouse estates priced from $6.75 to $25 million. Available residences range in size from 500 to 5,100-square-feet.

“We are thrilled to be bringing the world’s best hotel and residences brand to Waikiki,” said Jason Grosfeld, founder of Irongate. “The Residences will further secure Waikiki’s position as a world-class destination providing full- and part-time residents, as well as visitors, with all of the legendary services and amenities they have come to expect of The Ritz-Carlton brand.”

The second tower, known as the East Tower, is being built alongside the West Tower, which broke ground in September 2013, and reached 25 of its 38 floors this week. Completion for the West Tower is slated for the spring of 2016 followed by the East Tower in 2017. The two towers will connect at the base with a seven-story parking and amenity podium, which when completed, will become a premier Waikiki destination and resort terrace.

The Ritz-Carlton Residences, Waikiki Beach have achieved status as one of Hawaii’s most sought-after luxury residential addresses, with 88 percent of residences now sold to buyers primarily from the United States, Japan and other parts of Asia. These are the first luxury towers to be built in Waikiki since 2009.

“We look forward to working with Mr. Grosfeld and his team as they enter the Waikiki market with their exciting new property,” said Tim Grisius, Ritz-Carlton Senior Vice President. “We also look forward to introducing our company’s legendary hospitality to an iconic location such as Waikiki.”

The Residences will be the ultimate in resort-style living offering unobstructed views of the Pacific Ocean from every home, world-class design and architecture and access to unprecedented amenities and legendary services delivered by one of the world’s best hoteliers. Located adjacent to the internationally acclaimed shops of Luxury Row, the shopping, dining, relaxing and rejuvenating found here places The Residences among the most valuable and coveted real estate in the world.

The Residences’ luxury amenities will include a resort terrace with two ocean-view pools, a fitness center, a full-service spa, an entertainment lounge and The Ritz Kids ® lounge. Three world-class dining opportunities will include Dean & Deluca, BLT Market and Sushi Sho, as well as a pool-side grill and locally-owned produce and grocery market.

The Ritz-Carlton Residences Sales Gallery is located on Kalakaua Avenue next to Luxury Row and open seven days a week from 10 a.m. to 5 p.m. For more information, visit http://www.theresidenceswaikiki.com or call 808-445-9083.

About Irongate and the Project
With operations in California, Colorado, Hawaii and Mexico, Irongate is a full-service real estate development firm specializing in residential and resort communities located in world-class destinations. The company’s expertise lies in identifying opportunities for high-profile, luxury branded projects that combine timeless architecture and design with five-star service. Entrepreneurial in spirit, Irongate has chosen to bring their unique skills and passion to their newest project in Waikiki because they believe in the past and promise of such an iconic destination. Through their work, Irongate strives to contribute to the entire community by creating one-of-a-kind projects that reflect a heightened sensitivity to place and attract visitors and residents alike. Recent projects include The Ritz-Carlton Residences Waikiki Beach and Trump International Hotel & Tower Waikiki Beach Walk.

Scheduled to open in the spring of 2016, The Ritz-Carlton Residences, Waikiki Beach will be the ultimate in resort-style living offering unobstructed views of the Pacific Ocean from every home, world-class design and architecture and access to unprecedented amenities and legendary services delivered by one of the world’s top hospitality companies. Located adjacent to the internationally acclaimed shops of Luxury Row, the shopping, dining, relaxing and rejuvenating found here place The Residences among the most valuable and coveted real estate in the world. Two 38-story towers will feature 555 fully-serviced and furnished residences that range from 500 square-foot studios to over 5,000 square-foot penthouse estates. Three dining opportunities will include Dean & Deluca, BLT Market and Sushi Sho. Nothing else compares. For more information, visit http://www.theresidenceswaikiki.com.

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