Ross’s Comments – What you Need to Know about Hyde Midtown
In an effort to appeal to the investor crowd looking for a sleek and sexy Miami apartment that is attached to a name brand hotel and offers owners rental flexibility, Hyde Midtown is exactly that.
Situated in the heart of Midtown, this area has quickly become a popular for businesses, restaurants, retailers and residents, and it also offers dog friendly buildings and big box stores.
Hyde Midtown will be a combination of David Rockwell designed and furnished hotel suites available for daily rentals, and approximately 400 residential units that may be rented monthly.
With some big views facing east overlooking Biscayne Bay and the ocean from select higher floors (15+) units, Hyde Midtown is an attractive option without the sticker shock of a waterfront building.
Rental Policy - Residence unit owners may not rent for a period of less than one (1) month and no more than twelve (12) leases in any twelve (12) month period; Leases are not subject to association approval.
BUILDING QUALITY +
RENT FRIENDLY +
DESIGN & EFFICIENCY +
PET FRIENDLY +
UNIT SIZES 556 – 1,595 sq. ft (52 – 148 m²)
UNIT TYPES Studio, 1, 2 and 3 bedrooms
# OF UNITS 466
# OF FLOORS 32
# OF PARKING LEVELS 6
DEVELOPER Related Group / Dezer Development
PET POLICY Two pets allowed per unit, subject to restrictions
397 Condominium Residences that can be rented monthly (maximum 12 times per year)
60 Designer Suites fully finished and furnished by David Rockwell available for daily rentals with management by SBE hotels
Elevated 7th floor level amenities resort deck
State-of-the-art fitness center with cardio area overlooking the pool deck and Biscayne Bay.
Professionally staffed Spa.
Only tennis court in Midtown
Exclusive On-Demand concierge staff
Complimentary Valet Parking
High-speed internet access in all public areas
24-hour attended security services and controlled access
MIDTOWN / EDGEWATER
The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.
Major construction is already underway to further transform the Miami Design District into a destination for fashion, design and culture. In 2014, luxury fashion brands such as Givenchy, Miu Miu, Tom Ford, Fendi, and Dolce & Gabbana among others, will be opening in the Design District. The new development will also include buildings by renowned architects Sou Fujimoto, Aranda/Lasch, Iwamoto Scott and Leong Leong.
In what used to be the manufacturing district of Miami, over the past few years local developers have rehabilitated warehouses and other unused buildings into the Wynwood Arts District. Today, Wynwood consists of numerous art complexes, galleries, performing art spaces, restaurants and cafes.
Due to its strategic location and availability of waterfront property, Edgewater is currently realizing the largest growth of these submarket areas with over 2,600 new residential units under construction. According to a study released by the Miami DDA, this is a 67 percent increase over the current size of the market. This, combined with the development opportunities surrounding the Arsht Center for Performing Arts, present the most potential for long-term growth in the Greater Downtown Miami Market.
Based on the historical absorption of new residential units (since 2001) and the anticipated annual delivery of new units, we expect that there will still be considerable residual pent-up demand for new construction condos in the area over the next four or five years.