WELCOME TO SIXTY SIXTY
Sixty Sixty offers a unique form of condominium ownership on Miami Beach but ownership of a unit at Sixty Sixty comes with many restrictions. Unlike other residential condos on Miami Beach, Sixty Sixty is a Hotel and not a residential condominium. In addition, Sixty Sixty is not your typical Condo Hotel due to the unique ownership structure of the real property (building) as well as the unique condominium documents and by-laws that make up the condominium association at Sixty Sixty.
Prior to considering any purchase of a unit at the Sixty Sixty prospective buyers are encouraged to review all documents related to the building and have a full understanding of the ownership restrictions, limitations, and requirements. Sixty Sixty offers owner\investors the opportunity to purchase a condo unit on Miami Beach and put the unit to work as a Hotel Unit that generates an immediate monthly income to help offset the cost of ownership. The Sixty Sixty Resort offers its owners the opportunity to earn a hassle free income while having a place to enjoy as their own private retreat on Miami Beach. Sixty Sixty owners who are part of the Hotel also have access to the SG Resorts Beachfront Cabanas at SG Resorts sister property, the Casablanca Hotel.
The property is owned by the Hotel Unit (HU) or what the documents refer to as the Share Component of the building. It is the Hotel Unit Owner (HU) that has the responsibility to operate the hotel and maintain the building and property. It is the responsibility of the individual condo owners thru its Association to fund the annual budget created by the HU to operate the hotel and maintain the building and property.
If you look up the legal deed of the property in county records, you will find that the Schecher Group is the legal owner of the property. In addition, all of the building services, utilities, and contracts are for the most part with the Schecher Group. It is the responsibility of the Hotel Unit Owner (HU) to operate the building with funds provided by an annual budget created by the HU and funded by the individual unit owners which are part of the Sixty Sixty Condominium Association.
Unlike most all other residential condominiums where the Association is responsible for the maintenance, service, repair and operation of the property, this responsibility belongs to the HU at Sixty Sixty. The most important thing for prospective owners\investors to understand is that you are buying into a hotel operation which is not a condominium like most all other residential condominiums in Florida. The ownership structure, the condo documents, and just about everything else is different at Sixty Sixty due to its Hotel Classification. This is not a residential condominium where owners buy and live. Sixty Sixty is a Hotel which is controlled by the HU and the building has occupancy restrictions which are enforced by the City of Miami Beach and clearly defined in the Condo Documents.