Stayed at Dream SoBe for 3 nights over NYE period and considering the price and the location I have no complaints.
The hotel: located on Collins Ave. right behind the Versace mansion, Dream is a really nice boutique hotel in a superb location, in the heart of South Beach. Restaurants, bars, clubs Lincoln Rd, almost everything you need is walking distance.. and the beach is just a block away!
There's also a brand new italian restaurant (Serafina) on the ground floor and a nice place for drinks by the rooftop pool (Highbar).
The room: yes, our Deluxe King was tiny but I knew that when booking. If you're planning to stay here well, travel light as there's almost no space for your bags and clothes. I really loved the funky decor that looked like a good mix of 70s and arabic style. Also liked the huge shower and the Etro amenities.
Looking at the reviews seems that the biggest issues are the lights and the bathroom with the glass door. My room was overlooking 11th street and I used to open the curtains to let the natural light get in, but at night I didn't find the lights control panel difficult at all. Just look at the pictures on the buttons and you'll be fine. Otherwise just ask to one of the guys of the hotel how does the light system work.
About the bathroom: if you understandably want more privacy when sitting on the toilet or having a shower, just close the doors that separate this area from the bedroom. It's easy.
My biggest disappointment about the accomodation was the very poor soundproofing. You can literally hear everything, from the other rooms and from the street. Be aware of this if you're a light sleeper.
Also found the air conditioner a little bit uncomfortable as I'm not used to cold air blowing straight over me while sleeping (I even woke up with a sore throat after the first night).
Anyway, being on a very particular time of the year, I didn't spend a lot of time in my room so I could get over these things.
Service: front desk guys were always nice and helpful. Check-in and check-out were super fast. Can't really understand their mandatory $ 7.99 tax per day. Wouldn't be easier to include the cost of the wifi and the beach services in the price of the room? Whatever.
Overall a nice experience, and it's always good to come back to sunny South Beach.