Pharrell, David Grutman and Imperial Companies’ Michael D. Fascitelli and Eric Birnbaum opened the Goodtime Hotel on Washington Avenue in Miami Beach.
After roughly five years and $200 million, the Goodtime Hotel is almost open.
The Washington Avenue hotel, developed by Imperial Companies’ Michael D. Fascitelli and Eric Birnbaum, opens Thursday. The developers brought on star talent to deliver and operate the property: Pharrell Williams, hospitality mogul David Grutman and designer Ken Fulk.
The 266-key hotel, at 601 Washington Avenue, features about 100,000 square feet of public spaces, Grutman’s 30,000-square-foot Strawberry Moon restaurant and pool club, 45,000 square feet of ground floor retail, a gym and library, according to a release.
The project marks the first hotel for Grutman, founder of Groot Hospitality. The developers paid $36 million for the entire Washington Avenue block in 2015, records show. The project was partially financed with a $45 million loan from Bank OZK in early 2018.
“This area of Washington Avenue was in deep need,” Fascitelli said. “It took a lot of money to bring it to this point.”
Design architect Morris Adjmi, NBWW Architect of Record.