Watch Hyde Resort & Residences Hollywood Beach rise: VIDEO
All 40 condos have been sold
March 22, 2016 12:15PMBy Katherine Kallergis
Hyde Resort & Residences in Hollywood Beach is in the midst of topping off with a completion date for this fall.
The 40-story, beachfront tower will include 40 condominium units and 367 hotel rooms when it opens by the end of the year. Construction crews are expected to finish topping off the tower by April 1, according to a spokesperson.
Fortune International Group handled sales for the 40 units, which have been fully sold.
Residents of the condo-hotel will have access to Hyde Beach Kitchen + Cocktails, a three-story beach club on site. Sbe, a partner along with the Related Group and Fortune, will also release a select number of memberships open to non-residents, a spokesperson told The Real Deal. The beach club will feature food and beverage outposts, a Ciel spa and a poolside lounge. The hotel will be managed by hospitality company sbe, which has also partnered with Related to build the Hyde Hotel and Residences in Midtown Miami, along with the SLS and SLS Lux Hotel and Residences in Brickell.
In December 2014, the developers closed on a $102 million construction loan from the Blackstone Group. At the time, the project had an estimated sellout of $200 million.
Hyde Resort & Residences’ neighbor, Hyde Beach House, is currently under construction. Prices for those units range from $430,000 to $1 million. It is 55 percent presold, according to a press release.
Source: The Real Deal