You know what? Rich people just don't have enough places to comfortably sip their $12 drinks within the confines of perceived exclusivity. Members-only club Soho House, however, has come to the rescue of the huddled masses of Eurotrash and nouveau riche, expanding its properties from London and the Meatpacking District to a new venue in Miami. The Soho Beach House will be part hotel and part condo, with condo units ranging from 400 to 1000 square feet and selling from $550,000 and $1.9 million (for those of you keeping track, that's at least $1375 per square foot for a sliver of property located in the Miami outpost of a New York club where membership fees are $1400 despite the venue being clearly past its heyday). Of the 74 units available, only members of the London and New York clubs may purchase property, though the hotel rooms are open to non-members for around $500 a night. No word on whether the venue will be similarly accessible to Miami's colorful locals, but there are certainly waitstaff positions available.
Luxury Hotel Brand Sets Sights on Miami
July 17, 2006
By Jenny Holland
NEW YORK — Soho House, the exclusive club that even PR powerhouse Samantha Jones in Sex and the City couldn't get into, is planning to open a 74-unit Miami property in 2008.
Soho Beach House, as it will be known, will be part hotel, part condominium development. Only members from the clubs' New York and London locations will be able to buy units in the property, although non-members will be able to book rooms for regular hotel stays.
"You're buying into a little piece of Soho House, the brand," said North America general manager Mark Somen, who is overseeing the launch of the Miami property.
To reach out to the 3500 New York-based members, the club has done some "aggressive" direct marketing, Somen said, including presentations and question-and-answer sessions with Nick Jones, founder of the club, Somen and the developers working on the project.
"We're looking for like-minded people in film, media, fashion, and television."
Miami is the logical place for a Soho Club south, Somen said.
"It says music, it says fashion," he said. "It's a really fun place to be."
The condos, ranging in size from 400 to 1000 square feet, will sell for between $550,000 and $1.9 million, Somen said Monday. For overnight visitors, room rates will be in the $500 range.
Condo hotels, where people buy units in the property and can lease them back to the hotel when they are not using it, have become something of a trend in Miami, according to one real estate broker in the area.
"The benefits to the buyer are large," said Sheldon Green, CEO of Condo Hotel Center, a real estate firm in Miami.
Many of the area's buyers are wealthy baby boomers who want the amenities of a 4 or 5 star hotel but also want to be able to sublet the property out through a rental program, he said.
"They can use it when they want it, then put it in the rental program with the comfort that a brand name like Starwood or Hilton will take good care of it," Green said.