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$50M Mixed Use Project Set for Sunny Isles Beach

MIAMI-DSP Developments plans to break ground on the $50 million, 21-story Fantasy on the Ocean in early spring. The tower will contain 198 units that will be rented out as hotel suites when residents are not living there.

By Melissa Bogdany | Updated on January 20, 2003

MIAMI-DSP Developments is planning to build a $50 million, 21-story oceanfront condominium hotel in Sunny Isles Beach, FL, called Fantasy on the Ocean. The project will consist of 198 hotel/condo units. Hilton Hotels will franchise and manage the property, giving residents all the amenities and services of upscale hotel chain, such as housekeeping and a restaurant.

The site of the former Olympia Motel by Haulover Park was recently cleared for the development. Ground-breaking for the condo/hotel is set for early spring, and the project is scheduled to be completed at the end of 2004.

Units, which will range in size from 670 sf to 1,600 sf, cost between $320,000 and $645,000. The penthouse units start at $1.5 million.

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