The Real Deal Miami

South Beach’s Carlton Hotel in foreclosure

May 25, 2010 09:45AM

The Carlton Hotel was built in 1938

The Art Deco Carlton Hotel on South Beach has been named in a
foreclosure action, according to Miami-Dade County Circuit Court records. The suit was filed by an entity formed by a commercial mortgage-backed securities fund to manage the $13 million mortgage
on the property against Carlton Hotel LLC, the records show. The 67-room hotel at 1433 Collins Avenue was built in 1938 and purchased most recently in 2005 for $9.4 million. According to analytics firm Trepp, the company was more
than 90 days late on its mortgage at the end of April. [SFBJ]