The Real Deal Miami

Argentine investors buy Art Deco Berkeley Shore Hotel

According to brokers, they paid nearly the asking price of $13.78M

September 25, 2013 02:00PM

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Berkeley Shore Hotel

Argentine investors Jorge Savloff and Marcelo Tenenbaum acquired the Art Deco Berkeley Shore Hotel in South Beach for an undisclosed sum described as “very close” to the asking price of $13.78 million by Faye Reby and Roberto Pecchi, the Majestic Properties agents who brokered the sale.

They plan to renovate the Berkeley Shore, and add 33 more rooms, a swimming pool and a roof garden.

The seller, Guesch Inc., registered to Gonzalo Torre in Miami Beach, bought the 64-room, three-story hotel at 1610 Collins Ave. in 1991 for $840,000.

The Berkeley Shore was designed by one of Miami’s most well-known Art Deco architects, Albert Anis.

Savloff and Tenenbaum also own a slew of other South Beach hotels, including the Greenview Hotel, Aqua Hotel, Lorraine Hotel, Ocean Reef Hotel, Riviere Hotel and South Beach Hostel. — Emily Schmall

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