1 Hotel In South Beach Is For Sale

1 Hotel In South Beach Is For Sale

1 Hotel South Beach

1 Hotel South Beach

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:

HotelCitySale priceSale dateBuyer
Westin Diplomat Resort & SpaHollywood$460MAugust 2014Thayer Lodging Group
Ritz-Carlton Key BiscayneKey Biscayne$325MJune 2015Carey Watermark
James Royal PalmMiami Beach$278MMarch 2015Chesapeake Lodging Trust
Residences at W Fort LauderdaleFort Lauderdale$234MJuly 2014Related Companies
Edition Miami BeachMiami Beach$230MFebruary 2015Abu Dhabi Investment Authority

Gustavo Blachman Headshot
Phone: 786-229-8009
Dated: June 23rd 2016
Views: 407
About Gustavo: PROFESSIONAL QUALIFICATIONS • Florida Licensed Real Estate Broker – Owner of Terrabella Realt...

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