Overseas property news - Lenny kravitz to design new miami hotel

Lenny kravitz to design new miami hotel

 

The pop star famous for his lavish lifestyle has agreed to design the suites for Miami's new SLS hotel, further evidence of the urban renewal which is causing the city to lead Florida in housing market recovery.

Kravitz will join lead designer Phillippe Starck to create the second in Sam Nazarian's elite SLS hotel chain, which began life in Beverly Hills. The singer, who runs his own design firm and has already had a hand in the fit-out of the neighbouring Delano hotel, will design the hotel's more exclusive accommodations, including a luxury bungalow and a penthouse suite.

Despite the overall collapse of property prices in Florida, the city of Miami, particularly the hip, modern neighbourhood of South Beach, continues to retain its values relatively well, and the new hotel will no doubt underscore its importance as a destination for American celebrities and sports stars. Rooms at high-yielding neighbour hotels the W and Gansevoort start at $800 a night in peak season.

Since the initial property crash in 2008, sales in Miami have rebounded strongly and though there are still some bargains to be found, it looks to be leading the Floridian housing market recovery. Sales of single family homes increased by 18% year-on-year in December 2010, and were up 70% from December 2008, according to the Miami Association of Realtors.

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