Fifty-Seven of Mr. C’s Residences Are Also Hotel Rooms

Where the Project Stands

Terra, the developer led by David Martin, and the Morrison family's Sympatico Real Estate assembled the 1.3-acre site at 320 Lakeview Avenue, and the building page carries the venture's frame. The partners brought in the Mr. C flag, the Cipriani family's hotel brand, with Arquitectonica designing the tower and Meyer Davis the interiors. The joint venture secured construction financing from Tyko Capital, and work is under way toward the marketed year. Deposits land in instalments pegged to construction milestones on the way to closing, so the schedule and the escrow arrangements belong in your reading of the purchase agreement itself.

The sales gallery works for the developer venture. A buyer's own representation sits on the other side of the table, and how our fee is paid on a new development purchase is confirmed in writing before you sign. Our product study measures the unit mix and the amenity load, and the pipeline hub holds the field a buyer should price against before the gallery visit.

Fifteen Days at a Condo-Hotel

The statute gives you fifteen days after signing and receiving the condominium documents to walk away clean, and no sales office can negotiate them away. At a condo-hotel, spend them on the hotel papers first: the rental-program agreement, the projected budget and the tax treatment of the tier you are buying. The papers with legal force are still your unit plan, your square footage and the specification schedule the contract attaches. Renderings and Cipriani glamour are marketing.

Have your attorney weigh the outside completion date against the marketed year, because the remedies in that clause are what you actually hold if the calendar slips. Dates move at every project in the pipeline, and the contract, not the brochure, says what follows. The exit deserves the same reading. Many preconstruction contracts restrict assignment before closing, and at a condo-hotel the later buyer pool narrows too, so have the resale position confirmed in writing before you sign.

The Hotel Question

Fifty-seven residences on floors two through eight are Hotel Residences, furnished to hotel specification by Meyer Davis and Mr. C and eligible to join the hotel's room inventory when their owners are away. Florida law does not allow a homestead exemption on a unit enrolled in a hotel rental program, so the property tax bill runs higher than a conventional condominium's, and homestead eligibility for a purchase through an entity depends on the ownership structure. Revenue projections and management fees come from the developer's sales team, and a Florida CPA familiar with condo-hotel structures should review the position before contract.

The upper floors sit outside the program and operate as standard condominiums, with separate arrivals, lobbies and elevator banks keeping hotel guests and residents apart. Which tier the unit sits in is the first decision here, before floor or line, because it sets the tax treatment and the ownership profile for the life of the holding. Hotel-branded residences also carry a thinner resale market than conventional stock, a point worth weighing against the rental revenue.

The Assessment Question

Projected assessments have not been published. Branded hotel-condo developments in South Florida assess on a per-square-foot basis each month, and monthly assessments at branded developments typically exceed those at traditional condominiums, because the fee funds hotel staffing, food and beverage operations and the full amenity program. The actual figure waits on the budget the condominium association adopts, so request the developer's projected budget during the review period and put the number in your arithmetic before the window closes.

Carrying costs wait for the closing itself. Dues, taxes and insurance all start the day title passes, which argues for budgeting from the delivery date rather than the purchase date. Ask for the full schedule of closing costs before signing, including any developer fee and documentary stamp tax.

What Is Published Now

The building page's open feed carries three published residences this week, in the table below. The asks run from a three-bedroom under $4M to a penthouse near $12M, and the top of the feed sits well above the developer's stated range, which is its own lesson. The developer reprices as residences sell, so the sheet at the gallery governs on the day you visit. No sale has recorded on the open feed in the trailing twelve months.

The Field at the Same Entry

Mr. C's budget band is crowded downtown, and the neighbors make the hotel question concrete. The Berkeley opens at $1.9M on Clear Lake with 193 family residences, flex rooms and 40,000 square feet of amenities across three levels, targeted for 2028. Olara opened at a reported $1.7M on the Intracoastal with 275 residences for the same year. Banyan Tree Residences, the American debut of the Asian wellness-resort brand, matches The Berkeley's entry downtown with 88 residences targeted for 2029. Each of them sells floor area, frontage or programming where Mr. C sells the hotel. Our field study reads the downtown three head to head, and the pipeline hub holds all sixteen projects.