Related Group, Dezer Development Acquire Hyde Midtown Suites

MIAMIThe sale of the Hyde Midtown 60-room hotel to a New York investor that already owns hotel properties in South Beach kicked off discussions at Hyde Midtown, where The Related Group and Dezer Development revealed the $30+ million acquisition of the property’s David Rockwell-designed hotel suites. The property houses the only boutique hotel planned for the neighborhoods of Midtown, Design District, and Wynwood, along with 410 condominiums with lifestyle branding by hospitality leader, sbe.

Carlos Rosso, president of Related’s Condominium Divison, made the announcement during a panel hosted at Hyde Midtown, where five industry leaders discussed the interconnectivity of Miami’s top three destination neighborhoods—Wynwood, Midtown, and Design District. Participants provided an insider’s look at how each complements the other—from Wynwood’s art-lined streets and the Design District’s retail, to Midtown’s eateries and residential scene. The emerging “pocket” of Miami provides a blend of live, work, and play—with buyers and retailers drawn to Midtown’s pedestrian energy and up-and-coming millennial demographic.

Developed in collaboration with Sam Nazarian’s hospitality, lifestyle, and real estate development company, Sbe, Hyde Midtown officially broke ground in September 2015 and is now over 70 percent under contract. Sales in 2016 have been brisk, averaging $575 per square foot.

Advertisement

Designer David Rockwell, whose past projects include the Kodak Theater and Nobu restaurants worldwide, will design the lobby and hotel rooms with an “industrial chic” approach that resonates with the area’s vibe.

Located on Midtown Ave. and 34th Street between Miami’s Design District, and Wynwood, the Arquitectonica-designed tower will include 60 designer hotel suites and 410 luxury condominiums. The ground floor will be lined with 19,500 square feet of retail, restaurants, and live entertainment, including a Hyde Piano Bar Lounge. Residents and hotel guests will enjoy a slew of upscale amenities, including an onsite dog park, an expansive seventh floor pool terrace with views of the Miami skyline and Biscayne Bay, a private screening theater, game room, bocce/tennis courts, and V.I.P. access to South Beach’s beach club, Hyde Beach at the SLS Hotel South Beach, with complimentary lounges, towels, beach and pool towel services.

 

Previous articleTrump Brand Under Scrutiny
Next articleCongress Cracks Down on Hotel Scams