The Real Deal New York

SoFla Market Report: 1 Hotel South Beach up for sale, Little Havana draws multifamily investment … and more

The latest details from TRD South Florida

July 08, 2016 04:30PM
By TRD Miami staff

1 Hotel South Beach

1 Hotel South Beach

From the July issue: Barry Sternlicht’s 1 Hotel South Beach is being marketed for sale, several sources told The Real Deal. The sale of the trophy property at 2341 Collins Avenue could mark a record for the most expensive hotel deal of all time in Miami. If the 426-key hotel sold at $1 million a key, it would beat a record held by the Ritz-Carlton Key Biscayne, which traded hands a year ago for $325 million, translating into $1.076 million per key. [more]