The Real Deal Miami

Miami Four Seasons sells at 65 percent off

March 26, 2010 03:59PM

The 221-unit hotel component of the Four Seasons Millennium Tower was purchased Wednesday by a Florida corporation owned by Westbrook Partners for $29.5 million, 65 percent off its most recent assessed value, according to a report from Condo Vultures, the Bal Harbour-based real estate consultancy. The 70-story, 690,000-square-foot tower is one of the tallest in South Florida, with office and retail space, a condominium, condo-hotel and spa in addition to the section that was just sold. The seller of the property, which was assessed for $85.5 million, was FSM Hotel LLC, which was doing business as Four Seasons Hotel Miami. TRD