Check out new renderings, photos of Hyde Hollywood projects

Hyde Beach House to close construction loan for more than $100M by next month

TRD MIAMI /
Dec.December 16, 2016 03:45 PM

The Related Group released new renderings of Hyde Beach House and photos of Hyde Resort & Residences, two projects it has under construction in Hollywood Beach – projects valued at a combined $620 million.

Related is in talks with a local lender to close a construction loan in excess of $100 million for Hyde Beach House, a 265-resort-condo unit and 77-condo project at 4000 South Ocean Drive,  Eric Fordin, a vice president at Related, told The Real Deal. “We’ve basically taken the market and are upping the ante, adding more and more amenities, a beach club, Intracoastal pool, restaurant, pool deck, air conditioned racquetball court, outdoor theater …,” Fordin said.

Prices for units at the roughly $260 million project range from $590,000 to $1.3 million. It’s about 70 percent sold.

Across the street is Hyde Resort, which made headlines in October when a local mural painter died following a scaffolding collapse. The sold-out $360 million condo and hotel development is nearly completed, with plans to get its temporary certificate of occupancy and start closings early next month. Units ranged from $750,000 to $2 million.

The 40-story, beachfront tower at 4111 South Ocean Drive will include 40 condominium units and 367 hotel rooms. Fortune International Group handled sales. Units will be move-in ready, with wall coverings, flooring, furniture, and even silverware, Fordin said.

Related isn’t sitting on any land in Hollywood, but Fordin said the company is actively looking for other projects in Hollywood. Other developments in Hollywood include H3 Hollywood, which halted construction and sales earlier this year, and the Meliá Costa Hollywood Beach Resort, a $180 million condo-hotel.

Fordin said the Hyde projects won’t compete with each other because “one is a beach product and one is an Intracoastal project.”


Related Articles

arrow_forward_ios
Jorge Pérez and Jon Paul Pérez with the Wynwood properties

Related Group pays $19M for Wynwood development site

Related Group pays $19M for Wynwood development site
Related Group’s Jorge Perez and 5400 Broken Sound Boulevard in Boca Raton (Credit: Google Maps)

Related, Rockpoint nab $69M construction loan for Boca Raton apartments

Related, Rockpoint nab $69M construction loan for Boca Raton apartments
From left: Gran Paraiso and Bayside Terrace Condo

Gran Paraiso construction debris rained down on Edgewater condo building, lawsuit alleges

Gran Paraiso construction debris rained down on Edgewater condo building, lawsuit alleges
Dave Folsom, president & CEO of Sotherly Hotels, and the DoubleTree Resort by Hilton Hollywood Beach at 4000 South Ocean Drive (Credit: Google Maps)

Hollywood DoubleTree’s $59M CMBS loan enters special servicing

Hollywood DoubleTree’s $59M CMBS loan enters special servicing
Rendering of Miramar Town Center with Jorge Pérez

Related moving forward with Miramar Town Center project

Related moving forward with Miramar Town Center project
Only 20% of Related Group’s commercial tenants paid rent in April

Only 20% of Related Group’s commercial tenants paid rent in April

Only 20% of Related Group’s commercial tenants paid rent in April
From left: David Weitz, Steve Wernick, Michael Lirtzman, Joe Furst, and Erik Rutter

Silicon Valley heads to Wynwood’s office market

Silicon Valley heads to Wynwood’s office market
Jorge Perez and Masoud Shojaee with  the Flats Apartments at CityPlace Doral (Credit: Google Maps)

Related, Shoma, PGIM sell Doral apartments for $100M amid coronavirus pandemic

Related, Shoma, PGIM sell Doral apartments for $100M amid coronavirus pandemic
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...