The 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 neighborhoodsâ€”Wynwood, Midtown and Design District. Participants provided an insider’s look at how each compliments the otherâ€”from Wynwood’s art-lined streets and the Design District’s luxurious retail, to Midtown’s cozy eateries and sprawling residential scene. The emerging “pocket” of Miami provides the optimum 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 industry-leading hospitality, lifestyle and real estate development company, sbe, Hyde Midtown officially broke ground in September 2015 and is now over 70% under contract. Sales in 2016 have been brisk, averaging $575 per square foot.Â Design star 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.
Editor-In-Chief of MIAMI Modern Luxury Magazine Luis Rigual moderated the discussion, which included Rosso along with Gil Dezer, President of Dezer Development; Michael Comras, President and CEO of The Comras Company; James Provencher, Managing Partner of Barry’s Bootcamp; and Ivette Day, Director of Sales and Marketing at Apeiro Kitchen & Bar.