Hotels were a hot commodity this year in South Florida. The top ten sales totaled $1.5 billion as investors sought pieces of the South Florida hospitality market, an analysis by The Real Deal shows.
The Reuben brothers snagged the top spot by paying $400 million for the W Hotel South Beach at 2201 Collins Avenue in October. With 175 hotel rooms and 173 condo-hotel units, the sale comes to $1,150 per room. New York developers Aby Rosen and David Edelstein sold the property.
Gencom, led by Karim Alibhai, paid $400 million to Brookfield Asset Management in January to receive a majority stake at the waterfront hotel at 455 Grand Bay Drive in Key Biscayne. Out of the top ten, this took second place and breaks down to $1,374 per room.
In 2023, Trinity Investments and Credit Suisse paid $835 million for the 1,000-room Diplomat Beach Resort in Hollywood to snag that year’s top spot.
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