One of the hottest neighborhoods in Miami real estate continues to be Wynwood. The fashionable blocks in Florida are known for intriguing murals, hip galleries, and imaginative street artists who all gravitate to one of the most active art districts in the world.
So many real estate designers and professionals truly love the area including hotelier Michael Krymchantowski. The successful Brazilian businessman was one of the first to open doors on the streets that once laid out some undesirable abandoned lots. It was not overnight, but rather years of perseverance that brought in financial gain and a stellar reputation as a property developer with Krymwood Flats.
“I started years ago with an Airbnb multifamily building and remodeling each apartment making it a very pleasurable place to stay,” said the owner. “I have done the right thing by making the guests love it. We have hundreds of online positive reviews.”
In 2000, the property started as the first official hotel in the Wynwood neighborhood. Now it is a legendary landmark with tourists and locals alike. The accommodation’s business model is modern and colorful like the surrounding art installations on every corner of the district. Proud of his property that embraces the lively tone of the local streets, it even is decorated in a unique sunset-and-bamboo mural reflective of the region.
“When I found the neighborhood all my friends said I was crazy to finance in this underdeveloped zone,” he stated while talking about the initial investment. “I helped to clean the area. I made it a safe and hip place to stay in Miami.”
Everything about his studio properties that are rented by guests traveling to South Florida sparks originality. The grand hospitality speaks volumes and extends out beyond the corridors of the 21-unit establishment. Krymchantowski’s business continues to grow because people who stay at Krymwood Flats know they are coming for more than a place to sleep at night. They are coming for a lifestyle.
And Krymchantowski’s desire for continued growth in his incredible hotel portfolio is becoming a reality. In 2024, he is expanding with a new short-term rental concept that is due to produce great revenue. The businessman will also continue to help support his local community by creating other affordable places for locals to live and by producing more jobs in the neighborhood. All this will be done with the great spirit of Wynwood continuing to thrive in the near future.