New York property players hot for hotels down south

With guests willing to spend $1,000 a night, developers in Florida reposition older properties

The St. Regis Bal Harbour sold for a pricey $213 million
The St. Regis Bal Harbour sold for a pricey $213 million

From the South Florida Market Report: Institutional investors and tourists are invading the South Florida hotel market – and for some of them, it’s more than a short-term stay. [more]

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