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STRAIGHT
CONDOS IN CONDO HOTELS
The Appeal of
Hybrid Real Estate
Along
with the proliferation of condo hotels in South
Florida
and around the country has come a new breed of real
estate -- the condo hotel hybrid.
Webster's defines hybrids as "the interaction
or cross-breeding of two unlike sources." While the definition is usually
applied to animals or plants, it can be relevant to
real estate as well.
Some
five-star condo hotels have now begun to offer a percentage
of their units as straight condos.
That is, buyers would have deeded ownership
of a one-, two- or three-bedroom condo unit, and would
also have access to all the wonderful amenities of
the condo hotel. These amenities range from
luxury spas and world-class gyms to concierge services
and on-site gourmet restaurants.
Unlike the condo hotel units, however, the
straight condos would not be a part of the hotel's
rental program.
With
regard to investment potential, condo owners would
benefit from the condo hotel property's well-known
franchise name and five-star reputation.
That is, a condo in Canyon Ranch or the Four
Seasons condo hotels would likely have better resale
value than a comparable condo in a no-name property.
The condos would also be differentiated from
all other condos on the market by virtue of the condo
hotel's reputation and its five-star services.
Some
of the hybrid properties in Florida,
currently offering both condo hotel units and straight
condos are:
- The
Setai, Miami
Beach
- Roney
Palace,
Miami
Beach
- One
Bal
Harbour,
Miami
Beach
- Acqualina,
Miami
- Canyon
Ranch, Miami
Beach
- Four
Seasons, Miami
Beach
- Espirito
Santo
Plaza,
Miami
Beach
- St.
Regis, Fort
Lauderdale
- Regent
Winter Park, Orlando
For
more information on any of the above properties, please
contact Condo Hotel Center at info@condohotelcenter.com
or call 305-944-3090.
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