If 1 Hotel South Beach sells at the price Barry Sternlicht’s intends, $ 1 million a key, the trophy property could mark a record for the most expensive hotel deal of all time in Miami. It would beat a record held by the Ritz-Carlton Key Biscayne, which traded hands a year ago for $325 million.
Atlanta-based hotel real estate firm Hodges Ward Elliott is the listing brokerage for 1 Hotel, according to multiple sources. A message left for an executive was not immediately returned.
The hotel and condo development opened last year as part of a joint venture between Sternlicht’s Starwood Capital Group and LeFrak. 1 Hotel & Homes, at 2341 Collins Avenue, shares the building location with The Roney Palace, where residents enjoy of the most exquisite amenities provided by the 5 Star resort, however prices are less than half !
The hotel includes three Tom Colicchio-branded restaurants, four outdoor swimming pools, 57 cabanas and daybeds and an 18,000-square-foot gym and spa. Property records show affiliates of Starwood, LeFrak and Invesco acquired the property in 2012.
Here’s a breakdown of the most expensive South Florida hotel sales from J 2014 to date, based on total price:
Westin Diplomat Resort & Spa
Thayer Lodging Group
Ritz-Carlton Key Biscayne
James Royal Palm
Chesapeake Lodging Trust
Residences at W Fort Lauderdale
Edition Miami Beach
Abu Dhabi Investment Authority
Author:Gustavo Blachman Phone: 786-229-8009 Dated: June 23rd 2016 Views: 286 About Gustavo: PROFESSIONAL QUALIFICATIONS
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