Yehezkel buys Hyde Midtown hotel in Miami for $21.8 m

The Related Group and Dezer Development have completed the sale of the hotel in Hyde Midtown, a mixed-use development in Miami. The buyer is Midtown Hotel Investment LLC, which is led by Haim Yehezkel. Yehezkel is the head Elysee Investments, a commercial investment firm in Miami Beach and New York. Changing hands for $21.8 million, the 31-story, hotel-condo development contains 60 hotel rooms along with 410 condominiums. Investor Alex Vadia, who sold the land to Related and Dezer, retained ownership of the ground floor retail space. Selling for just over $363,300 per room key, the buyer financed the deal with a $14.5 million mortgage from Bank of America.