What are the Miami neighborhoods where most condo-hotels are?
South Beach, Miami Beach, Downtown Miami, Sunny Isles, and Fort Lauderdale.
What are some of the biggest and best-known condo-hotels in Miami?
The Fontainebleau II and Fontainebleau III, Miami Beach. The Four Seasons, Downtown Miami. Trump International, Sunny Isles. Ritz Carlton, Key Biscayne. Canyon Ranch, Miami Beach.
What would you say is generally the price difference between condo-hotel units and comparably sized standard condos? This would be not just in Miami but in condo-hotels generally.
Condo hotel prices are running anywhere from 10-30% higher than typical condominiums. The reasons for the higher prices include:
- More amenities like upscale spas and restaurants are offered in condo hotels.
- Condo hotels offer the five star services not typically found in straight condos, like daily maid service and concierge.
- Condo hotels are usually sold 100% furnished, with top of the line furnishings, linens, silverware, art work etc. Condominiums are sold with just bare walls.
- Condo hotels are operated by the top hotel management companies in the world.
The gap between the sizes of condo units vs. condo hotel units is getting smaller. We are seeing very few of the new condo hotel buildings offering units that are under 500 sq. ft.
The above questions were submitted via e-mail by a visitor to www.condohotelcenter.com. The answers were prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units and fractional ownerships in private residence clubs.