DSP Developments is the developer of the 198-unit tower, which will be franchised and managed by Hilton Hotels and operate as a full-service Hilton. Residents will buy the units, which range from 670 sf to 1,600 sf of living space. Prices range between $345,000 and approximately $645,000, while penthouses start at $1.5 million. The units will go into the hospitality inventory to be rented out by Hilton as luxury hotel suites when they are vacant. Forty-five of the suites will be lockout units, or two adjacent suites with a door in the middle available for residents to buy and possibly rent out half.
"Buyers recognize Hilton Hotel's trademark… Fantasy of the Ocean, with its discerning demographic and the development company behind it, represents the kind of product Hilton Hotels associates with nationally," says Mike Williams, regional marketing director for Hilton.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
