The Lido Park hotel

The Lido Park hotel in Miami Beach has been sold for $3.5 million, according to broker Susan Gale of the Susan Gale Group, who was the only broker on the deal. The 13,600-square-foot property, which was first built in 1934, had been undergoing a series of capital improvements by its owner, a native of France, Gale said. “[Miami Beach] is a very good [hotel] market,” said Gale, whose firm’s hospitality division has handled three hotel transactions in the last six months, including the Blue Ocean in Miami Beach. [more]

On Wednesday night, real estate insiders and local media gathered in Miami Beach’s South Pointe for a first look at the luxury beachfront residences at Ocean House (see party photos and renderings of the project above). The boutique property, located in the heart of the Beach’s SoFi neighborhood at 125 Ocean Drive, is the result of a multi-million dollar redesign project by iStar Financial and is being brokered exclusively by Cervera Real Estate. The Ocean House premiere began at Prime 112 with a cocktail reception. The restaurant’s owner, Myles Chefetz was the first buyer at the project, taking one of Ocean House’s two-story, 6,000-square-foot penthouses. Guests were led across the street for a brief tour of Chefetz’s new two-level property which features ultra-modern furnishings and a private rooftop pool. Units at the property range from one bedroom, one-and-a-half bathrooms to four-bedroom, four-and-a-half bathroom homes, beginning at $821,000. Alison Antrobus, the property’s lead interior designer, has also worked on Prime 112, Prime Italian and Badrutt’s Place. See more in the gallery above. — Daniel Williams 268 Comments

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Even with the real estate downturn, hotels on Miami Beach continue to
pop up, especially smaller, boutique accommodations. The trend is not
limited to South Beach, however, as hotels have been opening in Fort
Lauderdale and downtown Miami. One newcomer is the Prime Hotel, owned
by Myles Chefetz, who owns, with four other restaurants, the
high-priced Prime One Twelve restaurant on Ocean Drive. Two other small
hotels will open on the island soon, including Sense and Villa Italia,
each of which has less than 20 rooms. All three hotels, including
Prime, were designed by Luigi Vitalini, of Coral Gables-based Vitalini
Corazzini Architects. [Miami Herald]