The Real Deal Miami

MiMo’s Sunshine Motel sells for $3.5 million

December 21, 2012 03:00PM

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The Sunshine Motel in Miami’s MiMo neighborhood has sold for $3.5 million, The Real Deal has learned. Chariff Realty Group’s Lyle Chariff and Mauricio Zapata represented seller 7350 Biscayne Boulevard in the transaction. The 8,000-square-foot property sold for an average of $437 per square foot in an unlisted transaction. The buyer was Cool Hand  Investments, a limited liability company which is managed by John Kunkell, CEO of 50 Eggs Restaurant Group, which is reportedly acquiring the site for its corporate headquarters. The property last sold for $1.45 million. High Street Retail represented the buyer. 50 Eggs owns and operates Miami-area restaurants including Miami Beach’s Yardbird. Chariff said the sale represented a record for a hotel in MiMo. — Alexander Britell

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