The Related Group has sold the hotel component of SLS Brickell for $43 million to an entity managed by Francois Faber of Fiduciaire Fernand Faber, who has also signed an agreement with SBE for the continued management of the property. The 55-story development, which was completed by Related Group in 2016 and designed by Arquitectonica, features both a condo component with 450 condos and a hotel component which features 124 hotel rooms. The sale accounts to roughly $347,000 per key, with the rooms designed by Philippe Starck. The building also houses celebrity chef José Andres’ Bazaar Mar and Fi’lia by Michael Schwartz. Other amenities include a gym, spa, 10th floor pool deck, theater room and concierge services. The sale marks the second SBE managed hotel sale by Related Group this development cycle after it sold the Hyde Midtown hotel to Haim Yehezkel’s Midtown Hotel Investment LLC for $21.8 million in April 2018.
The Real Estate Mogul's Guide to South Florida
