The Real Deal Miami

Boca hotel sells for $9.25M at bankruptcy auction

Winning bidder will most likely renovate it

May 19, 2014 05:15PM

  • Print
701 N.W. 53rd St

701 N.W. 53rd St

The Guest Suites hotel in Boca Raton sold for $9.25 million in a court-ordered bankruptcy auction.

The winning bidder was Boca Hotel Suites. Attorney Alvin Goldstein, who represented the Chapter 11 trustee, told the South Florida Business Journal that Boca Hotel is a Largo-based company managed by Benjamin Mallah. Robert Furr. and U.S. Bankruptcy Judge Paul Hyman approved the results of the auction for the hotel, which is located at 701 N.W. 53rd Street.

Recently, Mallah has been buying up hotels around Tampa Bay and in California. His company is expected to renovate the newly purchased hotel since only 90 of its 183 rooms are in usable condition, according to Goldstein. [SFBJ] Christopher Cameron

  • WannaBeLandlord

    Seems like a good deal. Roughly $50k a door doesn’t seem too shabby.

MENU