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: 324 About Gustavo: PROFESSIONAL QUALIFICATIONS
• Florida Licensed Real Estate Broker – Owner of Terrabella Realt...
Terrabella Realty is a boutique operation with over 1 Billion dollars of closed sales over the past 12 years, We have experience in the South Florida real estate market and we have developed strategic alliances with Real Estate Firms in foreign countries like, Argentina, Colombia, Venezuela, Mexico, Ecuador, Canada, Russia, France, England and Israel, to name a few. We have over 80 sales associates ready, willing and able to assist on the sale of your property and we are experienced enough to help you price it right.