The Real Deal Miami

Related to renovate W Fort Lauderdale hotel and residences

Related Companies purchased the hotel and 147 condos in July 2014 for $90M

May 15, 2015 04:30PM
By Sean Stewart-Muniz

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The W Fort Lauderdale is getting an extensive overhaul by its new owner, the New York-based Related Companies.

Related Companies, which purchased the W Fort Lauderdale in July 2014 for $90 million, along with the Related Group, announced plans for an extensive renovation of the hotel and condo development on Fort Lauderdale Beach Boulevard.

The development, first built in 2009, consists of two buildings: a 517-room hotel and a separate 171-unit condo-hotel tower. Under its previous owner, the project’s condo sales failed to produce much success. By 2012, the development had only sold 21 of its 171 units. Its hotel, however, enjoyed occupancy rates pushing 60 percent.

Now, Related plans to redesign the 147 units it purchased in July, along with the hotel’s public spaces, amenities and guest rooms. Design firm Meyer Davis Studio will orchestrate the makeover.

The Related Group and Related ISG will lead sales for the remaining 147 units. Units range from 800 square feet to 1,500 square feet, with prices starting in the low $500,000s.